Ally Charitable Foundation
- Assets
- $71.4m
- Revenue
- $10.3m
- Investments
- $67.7m
- Employees
- 0
- Location
- Charlotte, NC
- Founding
- Data as of
- 12/2022
- EIN
- 84-4571035
Organization Overview
Ally Charitable Foundation is located in Charlotte, NC. According to its NTEE Classification (T21) the organization is classified as: Corporate 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. Ally Charitable Foundation 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 12/2022, Ally Charitable Foundation generated $10.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (33.6%) each year. All expenses for the organization totaled $11.2m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Ally Charitable Foundation has awarded 421 individual grants totaling $24,255,941. 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Rizer President | 30 | $0 | |
Jan Bergeson Vice President | 5 | $0 | |
Jacqueline Howard Secretary | 5 | $0 | |
Samuel Little Treasurer | 5 | $0 | |
Joyce Daniels Assistant Secretary | 5 | $0 | |
Mary French Assistant Secretary | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $8,441,471 |
| Interest on Savings | $11,015 |
| Dividends & Interest | $1,685,467 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$7,968 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $197,050 |
| Total Revenue | $10,327,035 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $23,581 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $23,581 |
| Contributions, gifts, grants paid | $11,142,765 |
| Total expenses and disbursements | $11,166,346 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,413,099 |
| Savings and temporary cash investments | $0 |
| 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 | $291,902 |
| Total assets | $71,357,693 |
| Accounts payable and accrued expenses | $33,414 |
| Grants payable | $6,577,016 |
| 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 | $6,610,430 |
Grants Awarded
Over the last fiscal year, Ally Charitable Foundation has awarded $12,549,416 in support to 192 organizations.
| Grant Recipient | Amount |
|---|---|
100 BLACK MEN OF GREATER DETROIT INC PURPOSE: PROJECT SUCCESS MENTORING PROGRAM | $25,000 |
ASPIRE COMMUNITY CAPITAL PURPOSE: COMMUNITY BUSINESS ACADEMY & BUSINESS ACCELERATOR SERVICES FOR ENTREPRENEURS | $40,000 |
BIG BROTHERS BIG SISTERS OF CENTRAL CAROLINAS PURPOSE: BIG BROTHER BIG SISTER PARTNERSHIP BEYOND SCHOOL WALLS | $38,000 |
BIG BROTHERS BIG SISTERS OF METROPOLITAN DETROIT PURPOSE: SITE-BASED MENTORING PROJECT | $28,000 |
CHARLOTTE FAMILY HOUSING PURPOSE: GENERAL OPERATING SUPPORT FOR CHARLOTTE FAMILY HOUSING | $30,000 |
COMMUNITIES IN SCHOOLS OF CHARLOTTE-MECKLENBURG PURPOSE: ACCESS AND PATHWAYS TO POST-SECONDARY SUCCESS | $50,000 |