Fownes Foundation
- Assets
- $2.3m
- Revenue
- $142.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Oakmont, PA
- Founding
- 05/1992
- Data as of
- 12/2022
- EIN
- 25-1657831
Organization Overview
Fownes Foundation is located in Oakmont, PA. The organization was established in 1992. According to its NTEE Classification (A99) the organization is classified as: Arts, Culture & Humanities N.E.C., under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fownes 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, Fownes Foundation generated $142.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (17.7%) each year. All expenses for the organization totaled $60.1k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (31.8%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO RESTORE AND PRESERVE NATIONALLY RECOGNIZED, HISTORICALLY SIGNIFICANT GOLF SITES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROJECT TO RESTORE AND PRESERVE A HISTORICALLY SIGNIFICANT GOLF COURSE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
C William Griffin President | OfficerTrustee | 1 | $0 |
Robert H Shoop Jr Vice President & Secretary | OfficerTrustee | 1 | $0 |
James R Douglass Vice President & Treasurer | OfficerTrustee | 1 | $0 |
Michael Sriprasert Board Member | Trustee | 1 | $0 |
G Nicholas Beckwith III Board Member | Trustee | 1 | $0 |
Carol Semple Thompson Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
June Price Interiors Ltd Construction | 12/30/15 | $731,131 |
J Palumbo Contracting Corporation Construction | 12/30/15 | $317,352 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $101,080 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $39,975 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $141,055 |
| Total Program Service Revenue | $0 |
| Investment income | $145 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $3,846 |
| Net Rental Income | $8,817 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$13,561 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,696 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $141,998 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $20,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $11,056 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,152 |
| Fees for services: Accounting | $10,925 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $2,070 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,770 |
| All other expenses | $0 |
| Total functional expenses | $60,103 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $435,476 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $18,527 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $80,448 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,681,806 |
| Investments—publicly traded securities | $3,199 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $125,658 |
| Total assets | $2,345,114 |
| Accounts payable and accrued expenses | $158,155 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $158,155 |
| Net assets without donor restrictions | $2,171,959 |
| Net assets with donor restrictions | $15,000 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,345,114 |
Grants Awarded
Over the last fiscal year, Fownes Foundation has awarded $75,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ALLEGHENY COUNTRY CLUB PURPOSE: MEMORIALIZATION PROJECT | $25,000 |
COBBS CREEK RESTORATION & COMMUNITY FOUNDATION PURPOSE: CAPITAL PROJECT | $50,000 |