Mary S & David C Corbin Foundation
- Assets
- $18.5m
- Revenue
- $577.8k
- Investments
- $18.0m
- Employees
- 0
- Location
- Akron, OH
- Founding
- 04/1970
- Data as of
- 12/2022
- EIN
- 23-7052280
Organization Overview
Mary S & David C Corbin Foundation is located in Akron, OH. The organization was established in 1970. 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. Mary S & David C Corbin 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, Mary S & David C Corbin Foundation generated $577.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (6.7%) each year. All expenses for the organization totaled $1.2m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Mary S & David C Corbin Foundation has awarded 230 individual grants totaling $3,362,650. 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 |
|---|---|---|---|
Robert C Berk President/secretary | 5 | $4,000 | |
Robert M Bonchack Vice President | 4 | $4,000 | |
Thomas M Welsh Trustee | 3 | $4,000 | |
R Mark Wernig Trustee | 4 | $4,000 | |
Michael A Sweeney Treasurer | 4 | $4,000 | |
Laura B Culp Trustee | 4 | $4,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $118 |
| Dividends & Interest | $406,601 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $169,300 |
| Capital Gain Net Income | $167,449 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,801 |
| Total Revenue | $577,820 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $25,000 |
| Other employee salaries and wages | $69,704 |
| Pension plans, employee benefits | $2,091 |
| Interest | $0 |
| Taxes | $57,318 |
| Depreciation | $774 |
| Occupancy | $15,535 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $52,010 |
| Total operating and administrative expenses | $232,568 |
| Contributions, gifts, grants paid | $947,000 |
| Total expenses and disbursements | $1,179,568 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $12,406 |
| Savings and temporary cash investments | $456,141 |
| 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 | $5,770 |
| Other assets | $1,141 |
| Total assets | $18,471,573 |
| Accounts payable and accrued expenses | $425 |
| 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 | $425 |
Grants Awarded
Over the last fiscal year, Mary S & David C Corbin Foundation has awarded $1,430,000 in support to 82 organizations.
| Grant Recipient | Amount |
|---|---|
AKRON ART MUSEUM PURPOSE: CORBIN GALLERY EXHIBITIONS AND RELATED PROGRAMMING | $25,000 |
AKRON CANTON REGIONAL FOODBANK PURPOSE: FOOD SOURCING AND DISTRIBUTION PROGRAM | $20,000 |
AKRON COMMUNITY SERVICE CENTER AND URBAN LEAGUE PURPOSE: AFTERSCHOOL ACADEMY | $15,000 |
AKRON CHILDREN'S MUSEUM PURPOSE: FINISH "SOUNDS OF MUSIC" EXHIBIT | $10,000 |
AKRON MARATHON CORPORATION PURPOSE: ONE INTERN SALARY | $7,500 |
AKRON ROUNDTABLE PURPOSE: PROGRAM SUPPORT | $500 |