Clemens Foundation
- Assets
- $20.5m
- Revenue
- $453.5k
- Investments
- $19.4m
- Employees
- 0
- Location
- Alsea, OR
- Founding
- 03/1961
- Data as of
- 12/2022
- EIN
- 93-6023941
Organization Overview
Clemens Foundation is located in Alsea, OR. The organization was established in 1961. 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. Clemens 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, Clemens Foundation generated $453.5k 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 (29.9%) each year. All expenses for the organization totaled $1.8m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Lowther President/board Member | 0 | $0 | |
Steven Lowther Vice-Pres/board Member | 0 | $0 | |
Fred Lowther Treasurer/secretary/board Member | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $434 |
| Dividends & Interest | $435,038 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $14,288 |
| Capital Gain Net Income | $14,288 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $3,784 |
| Total Revenue | $453,544 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $48,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $81,780 |
| Depreciation | $5,347 |
| Occupancy | $17,659 |
| Travel, conferences, and meetings | $4,669 |
| Printing and publications | $0 |
| Other expenses | $6,713 |
| Total operating and administrative expenses | $168,449 |
| Contributions, gifts, grants paid | $1,665,310 |
| Total expenses and disbursements | $1,833,759 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $424,579 |
| Savings and temporary cash investments | $452,545 |
| 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 | $153 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $211,916 |
| Other assets | $0 |
| Total assets | $20,502,169 |
| 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 | $1,363 |
| Total liabilities | $1,363 |
Grants Awarded
Over the last fiscal year, Clemens Foundation has awarded $1,665,310 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
COLLEGE TUITION SCHOLARSHIP GRANTS - DETAILS AVAILABLE UPON REQUEST PURPOSE: SCHOLARSHIPS | $1,645,110 |
PEACE LUTHERAN CHURCH PURPOSE: EDUCATION | $10,000 |
ALSEA SCHOOL DISTRICT PURPOSE: EDUCATION | $10,200 |