Degroot Family Foundation
- Assets
- $8.8m
- Revenue
- $305.1k
- Investments
- $8.6m
- Employees
- 0
- Location
- Watervliet, MI
- Founding
- 02/2003
- Data as of
- 12/2022
- EIN
- 06-1654753
Organization Overview
Degroot Family Foundation is located in Watervliet, MI. The organization was established in 2003. 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. Degroot Family 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, Degroot Family Foundation generated $305.1k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.4%) each year. All expenses for the organization totaled $803.8k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Degroot Family Foundation has awarded 140 individual grants totaling $3,999,873. 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.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Shirley Leith President/treasurer | 4.6 | $16,000 | |
Eric Brown - Evb Consulting Secretary | 0.5 | $17,000 | |
Eric M Leith Vice President/director Of | 3 | $16,000 | |
Jessica M Claus Vice President/internation | 3 | $16,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $11,693 |
| Dividends & Interest | $243,531 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $49,923 |
| Capital Gain Net Income | $49,923 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $305,147 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $65,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $17,729 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $4,870 |
| Printing and publications | $600 |
| Other expenses | $5,128 |
| Total operating and administrative expenses | $186,638 |
| Contributions, gifts, grants paid | $617,180 |
| Total expenses and disbursements | $803,818 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,439 |
| Savings and temporary cash investments | $174,205 |
| 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 | $6,689,465 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $95,892 |
| Total assets | $8,833,790 |
| 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, Degroot Family Foundation has awarded $617,180 in support to 23 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN RED CROSS PURPOSE: BIOMEDICAL SERVICES (BLOOD SAVES LIVES) SWMI | $16,000 |
BERRIEN COMMUNITY FOUNDATION PURPOSE: COLOMA-WATERVLIET BACK TO SCHOOL BACKPACK EVENT | $5,000 |
BERRIEN COMMUNITY FOUNDATION PURPOSE: SENIOR CARE PACKAGES | $1,000 |
BIRTH RIGHT OF ST JOSEPH PURPOSE: GENERAL OPERATIONS, NEW RAMP, RAILING AND STAIRS | $15,000 |
BERRIEN COMMUNITY FOUNDATION PURPOSE: DONOR ADVISED FUND | $30,000 |
BOYS & GIRLS CLUB-BENTON HARBOR PURPOSE: BE THERE PROGRAM | $50,000 |