Progressive Insurance Foundation
- Assets
- $7.8m
- Revenue
- $47.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Cleveland, OH
- Founding
- 09/2002
- Data as of
- 12/2020
- EIN
- 30-0013138
Organization Overview
Progressive Insurance Foundation is located in Cleveland, OH. The organization was established in 2002. According to its NTEE Classification (T21) the organization is classified as: Corporate 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. Progressive Insurance 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 12/2020, Progressive Insurance Foundation generated $47.8m in total revenue. All expenses for the organization totaled $18.8m during the year ending 12/2020. While expenses have increased by 74.5% per year over the past 3 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 |
|---|---|---|---|
Lori A Niedest Trustee | 0 | $0 | |
Steven R Kestner Trustee | 0 | $0 | |
John P Sauerland Vice President | 0 | $0 | |
Susan Patricia Griffith President | 0 | $0 | |
James L Kusmer Treasurer | 0 | $0 | |
Peter J Albert Assistant Secretary | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $24,325,652 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $23,497,731 |
| Capital Gain Net Income | $23,497,731 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $47,823,383 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $330,200 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $390,396 |
| Contributions, gifts, grants paid | $18,399,280 |
| Total expenses and disbursements | $18,789,676 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,804,354 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Other assets | $0 |
| Total assets | $7,804,354 |
| 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 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Comcast Nbcuniversal Foundation Philadelphia, PA | $16,720,236 | $25,679,760 |
Herbert H & Grace A Dow Foundation Midland, MI | $575,608,768 | $36,767,282 |
Dte Energy Foundation Detroit, MI | $165,950,300 | $32,183,321 |
Progressive Insurance Foundation Cleveland, OH | $7,804,354 | $47,823,383 |
Arconic Charitable Foundation Pittsburgh, PA | $0 | $10,360,918 |
Brown-Forman Foundation Louisville, KY | $0 | $24,207,060 |
Alcoa Foundation Pittsburgh, PA | $146,938,296 | $5,082,676 |
Third Federal Foundation Cleveland, OH | $35,709,526 | $3,618,702 |
Gii Charities Grand Rapids, MI | $4,065,002 | $6,112,431 |
Star Foundation Bethlehem, PA | $0 | $17,247 |
Westfield Insurance Foundation Westfield Center, OH | $42,931,784 | $4,362,594 |
Giant Eagle Foundation Pittsburgh, PA | $15,044,604 | $6,408,453 |