Third Federal Foundation
- Assets
- $29.0m
- Revenue
- $2.9m
- Investments
- $25.7m
- Employees
- 0
- Location
- Cleveland, OH
- Founding
- 11/2007
- Data as of
- 12/2023
- EIN
- 20-8467212
Organization Overview
Third Federal Foundation is located in Cleveland, OH. The organization was established in 2007. According to its NTEE Classification (T21) the organization is classified as: Corporate 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. Third Federal 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, Third Federal Foundation generated $2.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (13.9%) each year. All expenses for the organization totaled $5.3m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Third Federal Foundation has awarded 1,044 individual grants totaling $38,162,110. 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 |
|---|---|---|---|
Marc A Stefanski Chairman & Director | 5 | $0 | |
Emily Thome President | 40 | $299,316 | |
Daniel Weir Director | 5 | $0 | |
John Marino Director | 5 | $0 | |
Robert A Fiala Director | 5 | $0 | |
Terri Owens-Johnson Director | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $663 |
| Dividends & Interest | $1,998,747 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $917,533 |
| Capital Gain Net Income | $917,533 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $2,916,943 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $299,316 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $46,365 |
| Interest | $0 |
| Taxes | $41,381 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $3,524 |
| Printing and publications | $0 |
| Other expenses | $78,296 |
| Total operating and administrative expenses | $588,166 |
| Contributions, gifts, grants paid | $4,680,421 |
| Total expenses and disbursements | $5,268,587 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,182,849 |
| Savings and temporary cash investments | $6,625 |
| 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 | $14,307,088 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $110,784 |
| Total assets | $29,028,686 |
| 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, Third Federal Foundation has awarded $4,680,421 in support to 112 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICA SCORES CLEVELAND PURPOSE: CHARITABLE PURPOSE | $85,000 |
ABE BROWN MINISTRIES PURPOSE: CHARITABLE PURPOSE | $2,500 |
ANOTHER CHANCE OF OHIO PURPOSE: CHARITABLE PURPOSE | $50,000 |
ARTS IMPACT MIDDLE SCHOOL PURPOSE: CHARITABLE PURPOSE | $30,000 |
BESSIE'S ANGELS PURPOSE: CHARITABLE PURPOSE | $10,000 |
BLESSING HOUSE PURPOSE: CHARITABLE PURPOSE | $500 |