Gladys Turk Foundation
- Assets
- $1.3m
- Revenue
- $69.0k
- Investments
- $1.1m
- Employees
- 0
- Location
- Los Angeles, CA
- Founding
- 03/1965
- Data as of
- 12/2023
- EIN
- 95-6111858
Organization Overview
Gladys Turk Foundation is located in Los Angeles, CA. The organization was established in 1965. 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. Gladys Turk 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 12/2023, Gladys Turk Foundation generated $69.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (9.8%) each year. All expenses for the organization totaled $159.0k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (2.8%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Gladys Turk Foundation has awarded 31 individual grants totaling $1,537,550. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
DONATION TO UCLA TO FURTHER THE MUSIC PROGRAMS AT THE UNIVERSITY
DONATION TO THE UNIVERSITY OF SOUTHERN CALFORNIA TO FURTHER THE MUSIC DEPARTMENT
DONATION TO THE MUSIC CENTER OF LOS ANGELES TO FURTHER THE MUSIC PROGRAMS.
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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $5,772 |
| Dividends & Interest | $39,654 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$68,104 |
| Capital Gain Net Income | $1,754 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $91,723 |
| Total Revenue | $69,045 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $2,503 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $2,151 |
| Total operating and administrative expenses | $9,039 |
| Contributions, gifts, grants paid | $150,000 |
| Total expenses and disbursements | $159,039 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $20,570 |
| Savings and temporary cash investments | $110,076 |
| 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 | $2,136 |
| Total assets | $1,278,220 |
| 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, Gladys Turk Foundation has awarded $150,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
UCLA SCHOOL OF ARTS PURPOSE: VOCAL ARTS | $100,000 |
UNIVERSITY OF SOUTHERN CALIF PURPOSE: VOCAL ARTS | $30,000 |
YALE SCHOOL OF THE ARTS PURPOSE: VOCAL ARTS | $20,000 |