Asante Foundation Inc
- Assets
- $170.5m
- Revenue
- $16.4m
- Investments
- $162.4m
- Employees
- 0
- Location
- South Bend, IN
- Founding
- 10/2005
- Data as of
- 12/2021
- EIN
- 20-3554641
Organization Overview
Asante Foundation Inc is located in South Bend, IN. The organization was established in 2005. 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. Asante 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 12/2021, Asante Foundation Inc generated $16.4m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 35.1% each year . All expenses for the organization totaled $9.9m during the year ending 12/2021. While expenses have increased by 36.1% 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, Asante Foundation Inc has awarded 101 individual grants totaling $13,902,443. 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 |
|---|---|---|---|
Nancy Ickler Exec. Director & Secretary | 40 | $200,000 | |
Marcia S Veldman Director & Program Officer | 12 | $18,290 | |
Thomas F Veldman Director/president | 4 | $0 | |
Connie V Joines Director/vp & Asst. Secretary | 2 | $0 | |
Sharon Edmonds Director/vp & Treasurer | 2 | $0 | |
Anita J Veldman Director/vp | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Merrill Lynch | 12/30/21 | $390,825 |
Goldman Sachs & Co | 12/30/21 | $334,498 |
Jpmorgan Chase Bank Na | 12/30/21 | $197,210 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,634 |
| Interest on Savings | $590,900 |
| Dividends & Interest | $3,416,648 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $12,008,299 |
| Capital Gain Net Income | $12,008,299 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $364,817 |
| Total Revenue | $16,382,298 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $218,290 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $63,153 |
| Interest | $0 |
| Taxes | $210,991 |
| Depreciation | $0 |
| Occupancy | $26,280 |
| Travel, conferences, and meetings | $4,398 |
| Printing and publications | $0 |
| Other expenses | $402,223 |
| Total operating and administrative expenses | $1,880,976 |
| Contributions, gifts, grants paid | $8,061,569 |
| Total expenses and disbursements | $9,942,545 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $8,089,596 |
| 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 | $33,862,858 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $170,490,031 |
| 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, Asante Foundation Inc has awarded $8,061,569 in support to 44 organizations.
| Grant Recipient | Amount |
|---|---|
CATHOLIC RELIEF SERVICES--USCCB PURPOSE: SOCIAL SERVICES, EDUCATION | $1,500,000 |
SAINT JOSEPH HIGH SCHOOL PURPOSE: EDUCATION | $1,202,000 |
South Bend, IN PURPOSE: SOCIAL SERVICES | $551,622 |
Mishawaka, IN PURPOSE: SOCIAL SERVICES, HEALTH | $500,000 |
Fort Collins, CO PURPOSE: EDUCATION, SOCIAL SERVICES | $474,199 |
South Bend, IN PURPOSE: SOCIAL SERVICES | $328,263 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Anthony Pritzker Fam Foundation Chicago, IL | $0 | $37,184,888 |
Robert And Adele Schiff Family Foundation Inc Milwaukee, WI | $226,331,394 | $18,541,997 |
Paula And Rodger Riney Foundation St Louis, MO | $118,536,395 | $1,770,419 |
Pritzker Traubert Foundation Chicago, IL | $0 | $14,671,849 |
Fund For Wisconsin Scholars Inc Madison, WI | $273,321,225 | $22,010,196 |
John W Anderson Foundation Valparaiso, IN | $342,409,938 | $34,395,256 |
Motorola Solutions Foundation Chicago, IL | $427,877 | $12,200,078 |
The Walsh Foundation Chicago, IL | $179,756,510 | $18,008,076 |
Herbert Simon Family Foundation Indianapolis, IN | $26,075,189 | $9,696,254 |
Saul Zaentz Charitable Foundation Glenview, IL | $31,204,978 | $8,995,660 |
The John And Kathleen Schreiber Foundation Lake Forest, IL | $89,899,268 | $85,376,815 |
Colonel Il James N Pritzker Charitable Distribution Fund Chicago, IL | $104,212,573 | $19,788,937 |