Millstone Fund
- Assets
- $130.7m
- Revenue
- $860.3k
- Investments
- $129.1m
- Employees
- 0
- Location
- Cincinnati, OH
- Founding
- 08/2019
- Data as of
- 09/2023
- EIN
- 83-4320073
Organization Overview
Millstone Fund is located in Cincinnati, OH. The organization was established in 2019. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Millstone Fund is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2023, Millstone Fund generated $860.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (26.8%) each year. All expenses for the organization totaled $3.7m during the year ending 09/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Millstone Fund has awarded 68 individual grants totaling $3,085,500. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alonzo T Folger IV President | 10 | $0 | |
Alonzo T Folger V Vice President | 12 | $36,788 | |
Valerie Folger Treasurer | 10 | $0 | |
Elle S Folger Secretary | 29 | $90,272 | |
Corrie Scaringe Director | 29 | $75,712 | |
Carly Chu Director | 4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fifth Third Bank | 9/29/23 | $200,895 |
Bahl & Gaynor Inc | 9/29/23 | $444,477 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $463,482 |
| Dividends & Interest | $3,277,527 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$2,880,687 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $860,322 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $202,772 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $205,716 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $32,147 |
| Total operating and administrative expenses | $1,099,016 |
| Contributions, gifts, grants paid | $2,591,000 |
| Total expenses and disbursements | $3,690,016 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $77,293 |
| Savings and temporary cash investments | $1,516,387 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $130,657,265 |
| Accounts payable and accrued expenses | $676 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $676 |
Grants Awarded
Over the last fiscal year, Millstone Fund has awarded $2,591,000 in support to 41 organizations.
| Grant Recipient | Amount |
|---|---|
CINCINNATI USA REGIONAL CHAMBER FOUNDATION PURPOSE: BLINK MEGA MURAL | $25,000 |
BEECH ACRES PARENTING CENTER PURPOSE: BEYOND THE CLASSROOM | $50,000 |
FOCUS ON YOUTH INC PURPOSE: THE QUALIFIED BEHAVIORAL HEALTH SPECIALIST PROJECT | $60,000 |
CINCINNATI PLAYHOUSE IN THE PARK PURPOSE: PLAYHOUSE EDUCATIONAL PARTNERSHIP (PEP) | $20,000 |
FREESTORE-FOODBANK INC PURPOSE: CINCINNATI COOKS! | $15,000 |
GREATER CINCINNATI BEHAVIORAL HEALTH SERVICES PURPOSE: GCB CONNECTS | $25,000 |