American Foundation Corporation
- Assets
- $24.4m
- Revenue
- $274.9k
- Investments
- $23.9m
- Employees
- 0
- Location
- Cleveland, OH
- Founding
- 02/1974
- Data as of
- 12/2022
- EIN
- 23-7348126
Organization Overview
American Foundation Corporation is located in Cleveland, OH. The organization was established in 1974. 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. American Foundation Corporation 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, American Foundation Corporation generated $274.9k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.5% each year. All expenses for the organization totaled $2.0m during the year ending 12/2022. While expenses have increased by 1.2% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dwight B Corning President / | 0 | $0 | |
Mary V Murfey V. Pres. / D | 0 | $0 | |
Nadine J Martin Asst Secr/as | 0 | $0 | |
Maria G Muth Secr. / Trea | 0 | $0 | |
Frank Ryan V President | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $29,556 |
| Dividends & Interest | $435,773 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$190,473 |
| Capital Gain Net Income | $21,595 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $274,856 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $18,575 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $148,687 |
| Total operating and administrative expenses | $331,048 |
| Contributions, gifts, grants paid | $1,631,017 |
| Total expenses and disbursements | $1,962,065 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $24,110 |
| Savings and temporary cash investments | $362,114 |
| 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 | $3,406,722 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $34,472 |
| Total assets | $24,351,205 |
| 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 |