Alro Steel Foundation
- Assets
- $78.1m
- Revenue
- $2.7m
- Investments
- $75.4m
- Employees
- 0
- Location
- Jackson, MI
- Founding
- 07/2005
- Data as of
- 12/2022
- EIN
- 30-0254220
Organization Overview
Alro Steel Foundation is located in Jackson, MI. The organization was established in 2005. 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. Alro Steel 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, Alro Steel Foundation generated $2.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (25.2%) each year. All expenses for the organization totaled $2.5m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Alro Steel Foundation has awarded 12 individual grants totaling $12,001,400. 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 |
|---|---|---|---|
Randal L Glick President/treasurer | 2 | $0 | |
Brian T Glick Secretary | 2 | $0 | |
Carlton L Glick Vice President | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Goldman Sachs & Co Llc | 12/30/22 | $198,452 |
Jpmorgan Chase Bank Na | 12/30/22 | $155,572 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $1,721,096 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $940,334 |
| Capital Gain Net Income | $940,334 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $44,467 |
| Total Revenue | $2,705,897 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $82,440 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $49,682 |
| Total operating and administrative expenses | $486,146 |
| Contributions, gifts, grants paid | $2,000,000 |
| Total expenses and disbursements | $2,486,146 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,743,632 |
| 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 | $19,472,326 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $78,133,021 |
| 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 |
Grants Awarded
Over the last fiscal year, Alro Steel Foundation has awarded $4,000,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF MICHIGAN PURPOSE: ATHLETIC DEPARTMENTATHLETIC DEPARTMENT | $2,000,000 |
UNIVERSITY OF MICHIGAN HEALTH SYSTEM PURPOSE: PEDIATRIC BRAIN CANCER RESEARCH FUND | $2,000,000 |