Asante Foundation Inc
- Assets
- $160.0m
- Revenue
- $9.0m
- Investments
- $153.4m
- Employees
- 0
- Location
- South Bend, IN
- Founding
- 10/2005
- Data as of
- 12/2023
- 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 12/2023, Asante Foundation Inc generated $9.0m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $16.9m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Asante Foundation Inc has awarded 209 individual grants totaling $38,460,304. 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 |
|---|---|---|---|
Thomas F Veldman Director/president | 4 | $0 | |
Connie V Joines Director/vp & Asst. Secretary | 2 | $0 | |
Sharon Edmonds Director/vp & Treasurer | 2 | $0 | |
Nancy Ickler Exec. Director & Secretary | 40 | $220,000 | |
Anita J Veldman Director/vp | 2 | $0 | |
Michael A Joines Director/vp | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Jpmorgan Chase Bank Na | 12/30/23 | $191,320 |
Merrill Lynch | 12/30/23 | $361,357 |
Goldman Sachs & Co | 12/30/23 | $226,479 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,186 |
| Interest on Savings | $380,372 |
| Dividends & Interest | $3,234,034 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $5,088,177 |
| Capital Gain Net Income | $5,088,177 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $285,965 |
| Total Revenue | $8,989,734 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $308,335 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $76,080 |
| Interest | $0 |
| Taxes | $147,609 |
| Depreciation | $0 |
| Occupancy | $27,194 |
| Travel, conferences, and meetings | $8,353 |
| Printing and publications | $0 |
| Other expenses | $895,002 |
| Total operating and administrative expenses | $2,305,013 |
| Contributions, gifts, grants paid | $14,567,953 |
| Total expenses and disbursements | $16,872,966 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $6,641,800 |
| 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 | $37,153,687 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $160,023,461 |
| 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 | $55,000 |
| Total liabilities | $55,000 |
Grants Awarded
Over the last fiscal year, Asante Foundation Inc has awarded $14,567,953 in support to 58 organizations.
| Grant Recipient | Amount |
|---|---|
3HOPEFUL HEARTS PURPOSE: SOCIAL SERVICES | $53,000 |
A ROSIE PLACE (O'HANA HERITAGE FOUNDATION INC) PURPOSE: HEALTH | $100,000 |
BOYS & GIRLS CLUBS OF BLOOMINGTON PURPOSE: SOCIAL SERVICES | $64,400 |
BOYS & GIRLS CLUBS OF LARIMER COUNTY PURPOSE: SOCIAL SERVICES | $500,000 |
BOYS AND GIRLS CLUB OF ST JOSEPH COUNTY INC PURPOSE: HEALTH | $236,325 |
BROADWAY CHRISTIAN PARISH UMC PURPOSE: SOCIAL SERVICES | $10,000 |