Albert W Cherne Foundation
- Assets
- $11.7m
- Revenue
- $223.7k
- Investments
- $10.5m
- Employees
- 0
- Location
- Fountain Hill, AZ
- Founding
- 01/1969
- Data as of
- 12/2023
- EIN
- 23-7005356
Organization Overview
Albert W Cherne Foundation is located in Fountain Hill, AZ. The organization was established in 1969. 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. Albert W Cherne 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, Albert W Cherne Foundation generated $223.7k 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 (25.4%) each year. All expenses for the organization totaled $230.9k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Albert W Cherne Foundation has awarded 60 individual grants totaling $2,152,000. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
NOT APPLICABLE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
A William Cherne President/director | 1 | $0 | |
M Judith Hardebeck Vp/sec/treas/dir | 1 | $0 | |
Elizabeth B Cherne Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $850 |
| Dividends & Interest | $156,035 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $66,807 |
| Capital Gain Net Income | $66,807 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $11 |
| Total Revenue | $223,703 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $4,435 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $143 |
| Total operating and administrative expenses | $8,358 |
| Contributions, gifts, grants paid | $222,500 |
| Total expenses and disbursements | $230,858 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $31,959 |
| Savings and temporary cash investments | $1,176,630 |
| 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 | $11,748,712 |
| 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, Albert W Cherne Foundation has awarded $222,500 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
ALLIANCE DEFENDING FREEDOM PURPOSE: PROGRAM SUPPORT | $15,000 |
HATS & MITTENS ASSOCIATION PURPOSE: PROGRAM SUPPORT | $10,000 |
FRANK KOLLER LIBRARY PURPOSE: PROGRAM SUPPORT | $5,000 |
HILLSDALE COLLEGE PURPOSE: PROGRAM SUPPORT | $50,000 |
HISTORIC IRONWOOD THEATER PURPOSE: PROGRAM SUPPORT | $2,500 |
RISEN CHRIST CATHOLIC SCHOOL PURPOSE: PROGRAM SUPPORT | $110,000 |