Frank M & Olive E Gilman Foundation Inc
- Assets
- $33.2m
- Revenue
- $2.1m
- Investments
- $32.2m
- Employees
- 0
- Location
- Enfield, NH
- Founding
- 10/1991
- Data as of
- 12/2022
- EIN
- 03-0330527
Organization Overview
Frank M & Olive E Gilman Foundation Inc is located in Enfield, NH. The organization was established in 1991. 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. Frank M & Olive E Gilman Foundation Inc 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, Frank M & Olive E Gilman Foundation Inc generated $2.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (13.6%) each year. All expenses for the organization totaled $2.4m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Frank M & Olive E Gilman Foundation Inc has awarded 17 individual grants totaling $16,058,600. 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
PROVIDES GRANTS TO EDUCATIONAL 501 (C) 3 ORGANIZATIONS THAT PROVIDE SCHOLARSHIPS TO HIGH SCHOOL SENIORS IN WINDSOR AND ORANGE COUNTIES IN VERMONT AND GRAFTON COUNTY IN NH
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elizabeth Jones Secretary | 0 | $0 | |
Brenda Jones Treasurer | 0 | $0 | |
Reginald Jones President | 2 | $0 | |
Joseph Jones Vice-President | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $988,731 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,093,702 |
| Capital Gain Net Income | $1,093,702 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $45,210 |
| Total Revenue | $2,127,643 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $107,374 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $278,355 |
| Total operating and administrative expenses | $388,685 |
| Contributions, gifts, grants paid | $2,031,200 |
| Total expenses and disbursements | $2,419,885 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $902,357 |
| 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 | $16,899,516 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $27,784 |
| Total assets | $33,161,007 |
| 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, Frank M & Olive E Gilman Foundation Inc has awarded $2,031,200 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
NEW HAMPSHIRE CHARITABLE FOUNDATION PURPOSE: EDUCATIONAL ASSISTANCE | $757,200 |
VERMONT STUDENT ASST CORP PURPOSE: EDUCATIONAL ASSISTANCE | $1,274,000 |