Garrett Family Foundation
- Assets
- $2.9m
- Revenue
- $56.4k
- Investments
- $2.9m
- Employees
- 0
- Location
- Lake Forest, IL
- Founding
- 12/2005
- Data as of
- 12/2022
- EIN
- 20-3662445
Organization Overview
Garrett Family Foundation is located in Lake Forest, IL. 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. Garrett 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, Garrett Family Foundation generated $56.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (6.9%) each year. All expenses for the organization totaled $385.2k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Garrett Family Foundation has awarded 157 individual grants totaling $1,624,402. 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott T Garrett Trustee | 1 | $0 | |
Susan E Garrett Trustee | 1 | $0 | |
Brett Garrett Trustee | 1 | $0 | |
Elizabeth Garrett Mettler Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $183 |
| Dividends & Interest | $58,675 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$2,450 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $56,408 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $6,013 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $70 |
| Total operating and administrative expenses | $24,166 |
| Contributions, gifts, grants paid | $360,991 |
| Total expenses and disbursements | $385,157 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $58,838 |
| Savings and temporary cash investments | $0 |
| 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 | $2,924,552 |
| 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, Garrett Family Foundation has awarded $360,991 in support to 27 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN RED CROSS PURPOSE: CHARITY'S EXEMPT PURPOSE | $1,000 |
A SAFE PLACE PURPOSE: CHARITY'S EXEMPT PURPOSE | $5,100 |
BRAVO WAUKEGAN PURPOSE: CHARITY'S EXEMPT PURPOSE | $5,000 |
CENTER FOR ILLINOIS POLITICS PURPOSE: CHARITY'S EXEMPT PURPOSE | $150,000 |
ERIE FAMILY HEALTH FOUNDATION PURPOSE: CHARITY'S EXEMPT PURPOSE | $17,500 |
CHICAGO FURNITURE BANK PURPOSE: CHARITY'S EXEMPT PURPOSE | $150 |