Charles P & Margaret E Polk Foundation
- Assets
- $21.1m
- Revenue
- $3.2m
- Investments
- $10.7m
- Employees
- 0
- Location
- Millersburg, PA
- Founding
- 05/1961
- Data as of
- 12/2021
- EIN
- 23-6296772
Organization Overview
Charles P & Margaret E Polk Foundation is located in Millersburg, PA. The organization was established in 1961. 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. Charles P & Margaret E Polk 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, Charles P & Margaret E Polk Foundation generated $3.2m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.0%) each year. All expenses for the organization totaled $4.2m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATE AND MAINTAIN LOW-INCOME APARTMENT COMPLEXES AND AN ASSISTED LIVING PERSONAL CARE FACILITY FOR QUALIFYING ELDERLY PERSONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Crystal L Altland Administrator | 40 | $91,816 | |
Angela Kohler Asst Administrator | 40 | $66,712 | |
Troy Boyer Maintenance | 40 | $60,011 | |
Judy Lahr Worker | 40 | $56,724 | |
David Hawley Chairman | 5 | $24,000 | |
Judy Paul Secretary | 10 | $17,500 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $10,572 |
| Interest on Savings | $8 |
| Dividends & Interest | $214,060 |
| Net Rental Income | $116,901 |
| Net Gain on Sale of Assets | $626,672 |
| Capital Gain Net Income | $625,721 |
| Net ST Capital Gain | $84,908 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,706,310 |
| Total Revenue | $3,217,560 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $127,860 |
| Other employee salaries and wages | $1,854,115 |
| Pension plans, employee benefits | $312,198 |
| Interest | $30,064 |
| Taxes | $384,076 |
| Depreciation | $433,478 |
| Occupancy | $247,213 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $639,025 |
| Total operating and administrative expenses | $4,173,821 |
| Contributions, gifts, grants paid | $5,000 |
| Total expenses and disbursements | $4,178,821 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $95,964 |
| Savings and temporary cash investments | $1,001,007 |
| 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 | $6,595 |
| Net Investments - land, buildings, equipment | $2,146,084 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $7,164,135 |
| Other assets | $0 |
| Total assets | $21,104,999 |
| Accounts payable and accrued expenses | $19,136 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $1,224,196 |
| Other liabilities | $0 |
| Total liabilities | $1,243,332 |
Grants Awarded
Over the last fiscal year, Charles P & Margaret E Polk Foundation has awarded $105,970 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ESTATE OF ALLEN SHAFFER PURPOSE: RETURN OF PRINCIPAL | $100,970 |
GRACE UNITED METHODIST CHURCH PURPOSE: VOLUNTARY DONATION | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
John R Oishei Foundation Buffalo, NY | $294,151,477 | $18,357,929 |
Lor Foundation Inc West Chester, PA | $352,392,197 | $12,888,892 |
Grable Foundation Pittsburgh, PA | $386,701,292 | $35,946,563 |
Connelly Foundation West Conshohocken, PA | $387,913,026 | $27,891,431 |
The Abell Foundation Inc Baltimore, MD | $398,354,670 | $42,510,470 |
American Express Foundation New York, NY | $66,234,265 | $62,922,703 |
Essel Foundation Inc Purchase, NY | $100,106,056 | $12,292,478 |
Beth And Ravenel Curry Foundation New York, NY | $0 | $44,744,046 |
Kz Family Foundation New York, NY | $10,936,301 | $30,139,672 |
The Freeman Foundation P-01644-00-7 New York, NY | $343,405,683 | $35,941,951 |
Hearst Foundation Inc New York, NY | $439,249,947 | $42,040,987 |
Fred F Silk Charitable Foundation Louisville, OH | $0 | $2,703,630 |