John T Gorman Foundation
- Assets
- $204.0m
- Revenue
- $7.8m
- Investments
- $195.6m
- Employees
- 0
- Location
- Portland, ME
- Founding
- 09/1995
- Data as of
- 12/2022
- EIN
- 01-0498551
Organization Overview
John T Gorman Foundation is located in Portland, ME. The organization was established in 1995. 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. John T Gorman 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, John T Gorman Foundation generated $7.8m in total revenue. All expenses for the organization totaled $11.9m during the year ending 12/2022. While expenses have increased by 4.1% per year over the past 4 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, John T Gorman Foundation has awarded 431 individual grants totaling $22,942,258. 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 |
|---|---|---|---|
Nicole Witherbee Ex Officio President, Ceo, & Director | 40 | $346,761 | |
Michael Bevilacqua Cfo/treasurer, Chief Operating Officer | 40 | $278,852 | |
Anthony Cipollone Ex Officio President, Ceo, & Director (part Year) | 40 | $88,865 | |
Anne Dinsmore Director | 1.5 | $0 | |
Maggie Christie Keohan Director | 2 | $0 | |
Richard W Petersen Director | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cambridge Associates | 12/30/22 | $367,612 |
Northern Trust Company | 12/30/22 | $131,912 |
Organizational Consulting & Leadership Group | 12/30/22 | $104,940 |
Abt Associates | 12/30/22 | $54,692 |
Lyla Kaylene Mitchell | 12/30/22 | $72,884 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $827,630 |
| Dividends & Interest | $455,610 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $6,524,844 |
| Capital Gain Net Income | $5,548,503 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $7,808,084 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $762,447 |
| Other employee salaries and wages | $597,837 |
| Pension plans, employee benefits | $172,860 |
| Interest | $0 |
| Taxes | $18,379 |
| Depreciation | $70,254 |
| Occupancy | $177,178 |
| Travel, conferences, and meetings | $86,661 |
| Printing and publications | $0 |
| Other expenses | $126,901 |
| Total operating and administrative expenses | $3,262,468 |
| Contributions, gifts, grants paid | $8,663,448 |
| Total expenses and disbursements | $11,925,916 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $539,693 |
| Savings and temporary cash investments | $5,265,898 |
| 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 | $750,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $606,902 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $90,022,308 |
| Net Land, buildings, and equipment | $350,978 |
| Other assets | $841,472 |
| Total assets | $203,958,570 |
| Accounts payable and accrued expenses | $622,651 |
| 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 | $1,554,654 |
| Total liabilities | $2,177,305 |
Grants Awarded
Over the last fiscal year, John T Gorman Foundation has awarded $8,663,448 in support to 148 organizations.
| Grant Recipient | Amount |
|---|---|
ADOPTIVE AND FOSTER FAMILIES OF MAINE INC PURPOSE: FINANCIAL ASSISTANCE TO PROVIDE FOOD, HEATING AND UTILITIES, AND BEDS OR CRIBS | $10,000 |
AMERICAN PUBLIC HUMAN SERVICES ASSOCIATION PURPOSE: WHOLE FAMILY APPROACH TO JOBS; STRENGTHENING FAMILY WELL-BEING AND ECONOMIC MOBILITY | $3,000 |
ALZHEIMER'S DISEASE AND RELATED DISORDERS ASSOCIATION PURPOSE: 24/7 HELPLINE TO PROVIDE INFORMATION, REFERRALS, AND CARE CONSULTATIONS | $16,500 |
ANDROSCOGGIN HEAD START AND CHILD CARE DBA PROMISE EARLY EDUCATION CENTER PURPOSE: TO PROVIDE PROMISE FOOD PANTRY FAMILIES WITH NEEDED NON-FOOD ITEMS | $9,000 |
AROOSTOOK COUNTY ACTION PROGRAM PURPOSE: TO SUPPORT THE FAMILY SAFETY PROGRAM | $15,000 |
AROOSTOOK AREA AGENCY ON AGING PURPOSE: TO SUPPORT THE ONLINE ELDER LAW RISK DETECTOR TOOL | $20,000 |