Ray & Peg Hirvonen Charitable Foundation
- Assets
- $2.2m
- Revenue
- $94.2k
- Investments
- $1.9m
- Employees
- 0
- Location
- Marquette, MI
- Founding
- 04/1994
- Data as of
- 12/2021
- EIN
- 31-1388018
Organization Overview
Ray & Peg Hirvonen Charitable Foundation is located in Marquette, MI. The organization was established in 1994. According to its NTEE Classification (T50) the organization is classified as: Philanthropy, Charity & Voluntarism Promotion, 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. Ray & Peg Hirvonen Charitable 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 12/2021, Ray & Peg Hirvonen Charitable Foundation generated $94.2k 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 (9.8%) each year. All expenses for the organization totaled $180.7k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Ray & Peg Hirvonen Charitable Foundation has awarded 252 individual grants totaling $989,256. 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 |
|---|---|---|---|
Linda Hirvonen President | 1 | $0 | |
Matt Hirvonen Vice President | 1 | $0 | |
Mark Hirvonen Secretary | 1 | $0 | |
Ray Hirvonen Treasurer | 1 | $0 | |
Erik Hirvonen Allkins Director | 0 | $0 | |
Kyle Hirvonen Allkins Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $94,168 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $94,168 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $10,458 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $373 |
| Total operating and administrative expenses | $12,745 |
| Contributions, gifts, grants paid | $168,000 |
| Total expenses and disbursements | $180,745 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $325,418 |
| 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 | $2,175,824 |
| 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, Ray & Peg Hirvonen Charitable Foundation has awarded $168,000 in support to 42 organizations.
| Grant Recipient | Amount |
|---|---|
Big Bay, MI PURPOSE: PROGRAM SUPPORT, INCLUDING COVID & VIRTUAL CAMPING COSTS | $10,000 |
Marquette, MI PURPOSE: CAPITAL - ELECTRICAL UPGRADES | $10,000 |
PETER WHITE PUBLIC LIBRARY FDN PURPOSE: PROGRAM SUPPORT - GENERAL OPERATIONS | $10,000 |
Hancock, MI PURPOSE: ONGOING SUPPORT FOR SCHOLARSHIPS | $10,000 |
MARQUETTE REGIONAL HISTORY MUSEUM PURPOSE: PROGRAM SUPPORT FOR OPERATIONS | $10,000 |
PUBLIC TV 13 PURPOSE: UNDERWRITE HIGH SCHOOL BOWL SHOW | $7,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ohio Shared Information Services Inc Cincinnati, OH | $9,673,672 | $26,206,516 |
Joseph & Florence Mandel Family Foundation - Weinberg Family Fund Cleveland, OH | $181,897,996 | $22,134,878 |
The@joseph And Florence Mandel Family Foundation-Michele M And Cleveland, OH | $143,259,703 | $19,572,691 |
Psalms Foundation Cincinnati, OH | $2,676,117 | $10,777,846 |
Charity Motors Inc Detroit, MI | $2,508,278 | $4,106,535 |
Detroit Association Of Black Organizations Dabo Inc Detroit, MI | $174,773 | $1,935,579 |
Veterans Outreach Youngstown, OH | $937,209 | $2,263,977 |
Holl Trust B Presbyterian Home Milwaukee, WI | $34,163,292 | $4,097,383 |
Detroit Lions Charities Allen Park, MI | $661,259 | $1,820,325 |
Urban Alliance Kalamazoo, MI | $4,306,989 | $1,678,413 |
Lifelab Kids Foundation Ferndale, MI | $1,630,763 | $1,826,227 |
Group Plan Commission Cleveland, OH | $1,424,769 | $1,513,172 |