Steele-Reese Foundation- 561
- Assets
- $31.9m
- Revenue
- $4.6m
- Investments
- $30.7m
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 02/1959
- Data as of
- 08/2023
- EIN
- 13-6034763
Organization Overview
Steele-Reese Foundation- 561 is located in Chicago, IL. The organization was established in 1959. 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. Steele-Reese Foundation- 561 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 08/2023, Steele-Reese Foundation- 561 generated $4.6m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 26.6% each year . All expenses for the organization totaled $2.6m during the year ending 08/2023. While expenses have increased by 7.2% 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, Steele-Reese Foundation- 561 has awarded 315 individual grants totaling $7,420,700. 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 |
|---|---|---|---|
Name Not Listed Trustee | 30 | $225,000 | |
William T Buice Co-Trustee | 17 | $40,514 | |
Charles U Buice Co-Trustee | 17 | $40,513 | |
Judy K Owens Director | 17 | $43,500 | |
Linda Tracy Director | 17 | $46,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Eagle Capital Management | 8/30/22 | $102,179 |
Edgewood Management Llc | 8/30/22 | $62,882 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $724,434 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $3,815,179 |
| Capital Gain Net Income | $3,815,179 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $92,114 |
| Total Revenue | $4,631,727 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $395,527 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $38,013 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $8,847 |
| Printing and publications | $0 |
| Other expenses | $8,155 |
| Total operating and administrative expenses | $600,542 |
| Contributions, gifts, grants paid | $2,005,900 |
| Total expenses and disbursements | $2,606,442 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $26,009 |
| Savings and temporary cash investments | $1,214,172 |
| 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 | $1,997,605 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $31,896,464 |
| 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, Steele-Reese Foundation- 561 has awarded $2,005,900 in support to 89 organizations.
| Grant Recipient | Amount |
|---|---|
BREATHITT HIGH SCHOOL MUSIC PURPOSE: GENERAL | $35,000 |
BREATHITT COUNTY PUBLIC LIBRARY PURPOSE: GENERAL | $13,000 |
COWAN COMMUNITY ACTION GROUP INC PURPOSE: GENERAL | $40,000 |
KNOX COUNTY PUBLIC LIBRARY PURPOSE: GENERAL | $21,000 |
LETCHER COUNTY PUBLIC LIBRARY PURPOSE: GENERAL | $40,000 |
JOHNSON COUNTY SCHOOLS PURPOSE: GENERAL | $16,000 |