Mary S & David C Corbin Foundation
- Assets
- $19.1m
- Revenue
- $2.6m
- Investments
- $18.1m
- Employees
- 0
- Location
- Akron, OH
- Founding
- 04/1970
- Data as of
- 12/2021
- 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 12/2021, Mary S & David C Corbin Foundation generated $2.6m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 53.6% each year . All expenses for the organization totaled $1.1m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Mary S & David C Corbin Foundation has awarded 148 individual grants totaling $1,932,650. 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 M Bonchack Vice President | 4 | $4,000 | |
Robert C Berk President/secretary | 5 | $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 | $250 |
| Dividends & Interest | $378,564 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,257,295 |
| Capital Gain Net Income | $2,257,295 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $2,636,109 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $27,000 |
| Other employee salaries and wages | $67,020 |
| Pension plans, employee benefits | $2,011 |
| Interest | $0 |
| Taxes | $30,844 |
| Depreciation | $964 |
| Occupancy | $14,340 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $54,892 |
| Total operating and administrative expenses | $206,640 |
| Contributions, gifts, grants paid | $929,750 |
| Total expenses and disbursements | $1,136,390 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $12,239 |
| Savings and temporary cash investments | $930,354 |
| 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 | $6,544 |
| Other assets | $1,229 |
| Total assets | $19,073,272 |
| Accounts payable and accrued expenses | $376 |
| 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 | $376 |
Grants Awarded
Over the last fiscal year, Mary S & David C Corbin Foundation has awarded $929,750 in support to 72 organizations.
| Grant Recipient | Amount |
|---|---|
Akron, OH PURPOSE: AKRON FACULTY RENOVATION | $120,000 |
SUMMA HEALTH SYSTEMS PURPOSE: PROGRAM SUPPORT | $50,000 |
Cleveland, OH PURPOSE: INVESTMENT IN THE ORCHESTRA, BLOSSOM MUSIC FESTIVAL | $40,000 |
AMERICAN NATIONAL RED CROSS - GREATER AKRON AND MAHONING VALLEY CHAPTER PURPOSE: DISASTER CYCLE SERVICES | $40,000 |
HABITAT FOR HUMANITY OF SUMMIT COUNTY PURPOSE: IMAGINE IMPACT COMMUNITY AWARENESS CAMPAIGN | $40,000 |
Akron, OH PURPOSE: CORBIN GALLERY EXHIBITIONS AND RELATED PROGRAMMING | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Douglas & Maria Devos Foundation Grand Rapids, MI | $79,921,409 | $9,501,037 |
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 |
Fred F Silk Charitable Foundation Louisville, OH | $0 | $2,703,630 |
Jewish Foundation Of Cincinnati Cincinnati, OH | $344,322,004 | $65,111,190 |
Charles F Kettering Foundation Dayton, OH | $413,895,327 | $17,762,033 |
Jay And Jeanie Schottenstein Foundation Columbus, OH | $12,858,446 | $29,259,001 |
Susquehanna Foundation Bala Cynwyd, PA | $640,733,550 | $61,262,452 |
The Lozick Family Foundation Pepper Pike, OH | $264,438,182 | $44,457,050 |
Humana Foundation Inc Louisville, KY | $467,311,073 | $9,744,567 |
Dow Company Foundation Bay City, MI | $175,531,548 | $110,489,699 |