Glenstone Foundation
- Assets
- $0.0
- Revenue
- $1.9b
- Investments
- $515.8m
- Employees
- 0
- Location
- Potomac, MD
- Founding
- 07/2007
- Data as of
- 12/2021
- EIN
- 20-5938416
Organization Overview
Glenstone Foundation is located in Potomac, MD. The organization was established in 2007. According to its NTEE Classification (A40) the organization is classified as: Visual Arts, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Glenstone 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 12/2021, Glenstone Foundation generated $1.9b in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 32.3% each year . All expenses for the organization totaled $43.2m during the year ending 12/2021. While expenses have increased by 23.6% per year over the past 5 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 2017, Glenstone Foundation has awarded 58 individual grants totaling $27,125,073. 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
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
GLENSTONE FOUNDATION WAS CREATED AS A NON-PROFIT CORPORATION TO SUPPORT PUBLIC AND EDUCATIONAL EXHIBITIONS OF ART, TO PROMOTE THE STUDY, IMPROVEMENT AND ADVANCEMENT OF THE ARTS, AND TO FOSTER RESEARCH OF ART.THE FOUNDATION, WHICH INCLUDES A MUSEUM OF CONTEMPORARY ART AND OUTDOOR SCULPTURES, IS LOCATED IN MONTGOMERY COUNTY, MD, NEAR WASHINGTON, DC AND PROVIDES A CONTEMPLATIVE, INTIMATE SETTING FOR EXPERIENCING WORKS OF ART, ARCHITECTURE, AND NATURE. OPEN TO THE PUBLIC FOUR DAYS WEEKLY, THE MUSEUM PRESENTS SELECTIONS FROM AN ART COLLECTION OF SIGNIFICANT DEPTH AND BREADTH, AS WELL AS MONUMENTAL OUTDOOR SCULPTURES WITHIN ITS LANDSCAPE. ADMISSION IS FREE TO ALL VISITORS AND ITS SCHOOL PROGRAM ALSO PROVIDES TRANSPORTATION FOR LOCAL STUDENTS. AN ACTIVE LOAN PROGRAM MAKES ITS ARTWORK AVAILABLE TO MUSEUMS AROUND THE WORLD. THE FOUNDATION DOES NOT ACCEPT GRANT APPLICATIONS.
THE FOUNDATION ENGAGES DIVERSE COMMUNITIES WITHIN OUR GEOGRAPHIC AREAS OF FOCUS BY CREATING LASTING POSITIVE PSYCHOLOGICAL, EMOTIONAL, SOCIAL, AND ECONOMIC IMPACT OVER TIME, BY SUPPORTING THE COMMUNITIES OR PARTNERING WITH OTHER ORGANIZATIONS TO SUPPORT THEM. OBJECTIVES INCLUDE: YOUTH ENGAGEMENT - FACILITATE ACCESS TO INFORMATION AND OPPORTUNITIES FOR FUTURE GENERATIONS THROUGH YOUTH ENGAGEMENT INITIATIVES AND PARTNERSHIPS. HEALTH & WELLBEING - THROUGH CIVIC ENGAGEMENT, ENHANCE AND EXCHANGE KNOWLEDGE, SKILLS AND EXPERTISE THAT IMPROVES THE PUBLIC HEALTH AND WELL-BEING OF TARGET COMMUNITIES. INEQUALITY - SUPPORT ORGANIZATIONS THROUGH PARTNERSHIPS TO ADVANCE RESEARCH AND PROGRAMS TO ADDRESS INEQUITIES, REDUCE POVERTY, PROTECT HUMAN RIGHTS AND PROVIDE EQUITABLE ACCESS TO RESOURCES. ENVIRONMENTAL JUSTICE - THROUGH RESEARCH AND PARTNERSHIPS SUPPORT ORGANIZATIONS ADVANCE EQUITABLE POLICIES THAT ADDRESS THE IMPACT OF CLIMATE CHANGE PRIMARILY ON MINORITY COMMUNITIES.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mitchell P Rales Chairman/director | 30 | $0 | |
Emily W Rales President | 50 | $0 | |
C Scott Brannan Vice Pres./treasurer/director | 20 | $0 | |
Rachel L S Plumley Secretary/director | 10 | $0 | |
Anthony Cerveny Chief Operating Officer | 50 | $289,772 | |
Heather F Nolan Director Of Finance | 50 | $143,501 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The Whiting-turner Contracting Company | 12/30/22 | $3,385,059 |
Katten Muchin Llp | 12/30/22 | $2,938,801 |
Tanenholz & Associates Pllc | 12/30/22 | $1,233,429 |
Crozier Fine Arts | 12/30/22 | $1,114,737 |
Wf Wilson & Sons Inc | 12/30/22 | $1,114,174 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,887,406,255 |
| Interest on Savings | $313,863 |
| Dividends & Interest | $3,826,175 |
| Profit on Inventory Sales | -$60,885 |
| Other Income | $30,000 |
| Total Revenue | $1,895,507,815 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $409,469 |
| Pension plans, employee benefits | $1,640,404 |
| Depreciation | $10,172,174 |
| Occupancy | $593,271 |
| Travel, conferences, and meetings | $41,298 |
| Printing and publications | $35,400 |
| Total operating and administrative expenses | $34,726,681 |
| Contributions, gifts, grants paid | $8,510,012 |
| Total expenses and disbursements | $43,236,693 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $36,690 |
| Investments—mortgage loans | $0 |
| Investments—other | $185,061,569 |
| Other assets | $1,818,264,669 |
| Mortgages and other notes payable | $219,914,123 |
| Other liabilities | $0 |
Grants Awarded
Over the last fiscal year, Glenstone Foundation has awarded $6,320,299 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
FOUNDATION FOR CONTEMPORARY ARTS PURPOSE: SUPPORT THE ARTS | $50,000 |
CITY KIDS WILDERNESS PROJECT PURPOSE: FEED THE HUNGRY | $4,068 |
ANYONE CAN FLY FOUNDATION INC PURPOSE: FEED THE HUNGRY | $17,635 |
UNITED WAY OF NATIONAL CAPITAL AREA PURPOSE: GENERAL SUPPORT | $6,986 |
ARS NOVA WORKSHOP INC PURPOSE: SUPPORT THE ARTS | $200 |
NATIONAL GALLERY OF ART PURPOSE: SUPPORT THE ARTS | $727,500 |