Gorman Fam Foundation Inc
- Assets
- $4.7m
- Revenue
- $130.9k
- Investments
- $4.0m
- Employees
- 0
- Location
- Bristol, CT
- Founding
- Data as of
- 12/2023
- EIN
- 30-6684352
Organization Overview
Gorman Fam Foundation Inc is located in Bristol, CT. 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. Gorman Fam 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 12/2023, Gorman Fam Foundation Inc generated $130.9k in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 28.6% each year . All expenses for the organization totaled $264.4k during the year ending 12/2023. While expenses have increased by 12.7% per year over the past 2 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 2022, Gorman Fam Foundation Inc has awarded 21 individual grants totaling $389,329. 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 |
|---|---|---|---|
John J Gorman President | 0 | $0 | |
Ellyssa L Eror Vice Preside | 0 | $0 | |
Olivia Z Gorman Secretary | 0 | $0 | |
Mary E Gorman Treasurer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $4,770 |
| Dividends & Interest | $147,029 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$20,868 |
| Capital Gain Net Income | $32,014 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $130,931 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $2,422 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $39,380 |
| Total operating and administrative expenses | $45,817 |
| Contributions, gifts, grants paid | $218,629 |
| Total expenses and disbursements | $264,446 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,581 |
| Savings and temporary cash investments | $664,277 |
| 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 | $4,664,087 |
| 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, Gorman Fam Foundation Inc has awarded $218,629 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
WELLESLEY COLLEGE PURPOSE: CHARITABLE CONTRIBUTION | $40,000 |
FIRST CONG CHURCH OF SUNDERLAND PURPOSE: CHARITABLE CONTRIBUTION | $10,000 |
SOUTHERN SCHOLARS INITIATIVE INC PURPOSE: CHARITABLE CONTRIBUTION | $20,000 |
CARLETON COLLEGE PURPOSE: CHARITABLE CONTRIBUTION | $30,000 |
MISS PROTER'S SCHOOL PURPOSE: CHARITABLE CONTRIBUTION | $50,000 |
CHOATE ROSEMARY SCHOOL PURPOSE: CHARITABLE CONTRIBUTION | $25,000 |