Benton Community Foundation Inc
- Assets
- $8.5m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 3
- Location
- Fowler, IN
- Founding
- 08/2004
- Data as of
- 12/2022
- EIN
- 26-0074023
Organization Overview
Benton Community Foundation Inc is located in Fowler, IN. The organization was established in 2004. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2022, Benton Community Foundation Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Benton Community Foundation Inc 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, Benton Community Foundation Inc generated $1.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.6% each year. All expenses for the organization totaled $640.5k during the year ending 12/2022. While expenses have increased by 3.7% per year over the past 8 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.
Since 2014, Benton Community Foundation Inc has awarded 58 individual grants totaling $1,185,611. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF BENTON COMMUNITY FOUNDATION IS TO ENHANCE THE QUALITY OF LIFE IN BENTON COUNTY THROUGH CIVIC LEADERSHIP, PHILANTHROPY, AND CHARITABLE ECONOMIC DEVELOPMENT INITIATIVES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COMMUNITY GRANTS - PROVIDE GRANTS AND TECHNICAL ASSISTANCE TO IMPROVE THE LIVES OF BENTON COUNTY RESIDENTS. THESE COMMUNITY GRANTS INCLUDE THE DOLLY PARTON IMAGINATION LIBRARY WHICH INCREASES LITERACY FOR NEARLY 200 TODDLERS IN BENTON COUNTY AND THE COUNCIL FOR ACADEMIC EXCELLENCE WHICH AWARDS 500 SCHOLARSHIPS FOR STUDENTS FOR EXCELLENT ACADEMIC ACHIEVEMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Barbara Creek President | OfficerTrustee | 3 | $0 |
Katrina Molter Secretary | OfficerTrustee | 3 | $0 |
John Kretzmeier Director | Trustee | 1 | $0 |
Robert Hasser Director | Trustee | 2 | $0 |
Joe Senesac Director | Trustee | 1 | $0 |
Jessica Strasburger Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $955,260 |
| Noncash contributions included in lines 1a–1f | $3,384 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $955,260 |
| Total Program Service Revenue | $6,500 |
| Investment income | $340,082 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$15,356 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,286,486 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $242,272 |
| Grants and other assistance to domestic individuals. | $122,073 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $64,100 |
| Compensation of current officers, directors, key employees. | $18,176 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $44,105 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,453 |
| Payroll taxes | $8,776 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $22 |
| Fees for services: Accounting | $13,885 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $23,484 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $8,026 |
| Information technology | $15,362 |
| Royalties | $0 |
| Occupancy | $3,384 |
| Travel | $970 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,213 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,900 |
| Insurance | $4,887 |
| All other expenses | $2,841 |
| Total functional expenses | $640,544 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $116,945 |
| Savings and temporary cash investments | $684,730 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,200 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $5,055 |
| Net Land, buildings, and equipment | $9,694 |
| Investments—publicly traded securities | $7,635,557 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,453,181 |
| Accounts payable and accrued expenses | $24,014 |
| Grants payable | $164,362 |
| 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 | $188,376 |
| Net assets without donor restrictions | $4,507,294 |
| Net assets with donor restrictions | $3,757,511 |
| 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 | $8,453,181 |
Grants Awarded
Over the last fiscal year, Benton Community Foundation Inc has awarded $149,525 in support to 13 organizations.
| Grant Recipient | Amount |
|---|---|
BENTON COMMUNITY SCHOOL CORPORATION PURPOSE: READING & WRITING | $10,025 |
OTTERBEIN PUBLIC LIBRARY PURPOSE: ESPORTS FOR YOUTH | $8,500 |
BORROWED TIME EAP PURPOSE: EQUINE THERAPY | $25,000 |
PRAIRIE PRESERVATION GUILD LTD PURPOSE: FOWLER THEATRE | $15,000 |
TOWN OF BOSWELL PURPOSE: BASKETBALL COURT | $13,000 |
BOSWELL-GRANT TOWNSHIP FIRE DEPT PURPOSE: MATCHING GRANT | $10,000 |