Joe And Mary Ann Cromeans Charitable Foundation Trust
- Assets
- $21.2m
- Revenue
- $653.3k
- Investments
- $20.2m
- Employees
- 0
- Location
- Orange Beach, AL
- Founding
- Data as of
- 12/2021
- EIN
- 85-1191628
Organization Overview
Joe And Mary Ann Cromeans Charitable Foundation Trust is located in Orange Beach, AL. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Joe And Mary Ann Cromeans Charitable Foundation Trust 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 12/2021, Joe And Mary Ann Cromeans Charitable Foundation Trust generated $653.3k in total revenue. All expenses for the organization totaled $766.7k during the year ending 12/2021.
Since 2020, Joe And Mary Ann Cromeans Charitable Foundation Trust has awarded 18 individual grants totaling $497,500. 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 |
|---|---|---|---|
Joe Gray Cromeans Jr Trustee/chairman | 40 | $165,000 | |
Jennifer M Blanchard Distribution Committee | 20 | $40,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $29 |
| Dividends & Interest | $494,617 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $158,633 |
| Capital Gain Net Income | $158,633 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $653,279 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $205,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $17,038 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $118 |
| Total operating and administrative expenses | $366,727 |
| Contributions, gifts, grants paid | $400,000 |
| Total expenses and disbursements | $766,727 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $58,945 |
| Savings and temporary cash investments | $911,733 |
| 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 | $21,170,085 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
Grants Awarded
Over the last fiscal year, Joe And Mary Ann Cromeans Charitable Foundation Trust has awarded $400,000 in support to 13 organizations.
| Grant Recipient | Amount |
|---|---|
Mobile, AL PURPOSE: SCHOLARSHIPS | $50,000 |
Mobile, AL PURPOSE: SCHOLARSHIPS | $50,000 |
VANDERBILT UNIVERSITY PURPOSE: SCHOLARSHIPS | $50,000 |
Montevallo, AL PURPOSE: SCHOLARSHIPS | $35,000 |
UNIVERSITY OF ALABAMA AT BIRMINGHAM PURPOSE: SCHOLARSHIPS | $35,000 |
UNIVERSITY OF ALABAMA IN HUNTSVILLE PURPOSE: SCHOLARSHIPS | $35,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Arthur M Blank Family Foundation Atlanta, GA | $365,187,486 | $84,889,977 |
Pyramid Peak Foundation Memphis, TN | $230,284,852 | $119,724,559 |
The Frederick A Deluca Foundation Inc Pompano Beach, FL | $724,648,898 | $109,039,821 |
Ted Arison Family Found Aventura, FL | $489,424,665 | $63,628,275 |
Arison Arts Foundation Coral Gables, FL | $423,071,215 | $88,937,143 |
Poses Family Foundation Miami Beach, FL | $501,022,398 | $55,408,716 |
Jim Moran Foundation Inc Deerfield Beach, FL | $191,270,194 | $47,763,594 |
John Bulow Campbell Foundation Atlanta, GA | $793,659,742 | $103,345,098 |
Poplar Foundation Memphis, TN | $149,801,224 | $18,419,294 |
Kovner Foundation Jupiter, FL | $0 | $19,441,586 |
Naples Children And Education Naples, FL | $64,560,487 | $12,642,425 |
Plough Foundation Memphis, TN | $29,124,366 | $7,604,937 |