Silverwing Foundation
- Assets
- $23.4m
- Revenue
- $4.1m
- Investments
- $20.5m
- Employees
- 0
- Location
- Ada, MI
- Founding
- 10/2005
- Data as of
- 12/2023
- EIN
- 20-2110480
Organization Overview
Silverwing Foundation is located in Ada, MI. The organization was established in 2005. 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. Silverwing 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, Silverwing Foundation generated $4.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (17.6%) each year. All expenses for the organization totaled $2.9m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (15.0%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nan Van Andel President | 20 | $150,000 | |
James Rosloniec Treasurer | 20 | $140,763 | |
Leigh Tilkin Director | 5 | $25,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $571,353 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $3,505,011 |
| Capital Gain Net Income | $5,650,633 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $30,923 |
| Total Revenue | $4,107,287 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $315,763 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $16,743 |
| Interest | $0 |
| Taxes | $107,804 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $76,974 |
| Total operating and administrative expenses | $536,823 |
| Contributions, gifts, grants paid | $2,366,362 |
| Total expenses and disbursements | $2,903,185 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,812,870 |
| 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 | $0 |
| Total assets | $23,361,902 |
| Accounts payable and accrued expenses | $62,952 |
| 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 | $62,952 |