Ray & Peg Hirvonen Charitable Foundation
- Assets
- $13.8m
- Revenue
- $11.9m
- Investments
- $11.8m
- Employees
- 0
- Location
- Marquette, MI
- Founding
- 04/1994
- Data as of
- 12/2022
- 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 12/2022, Ray & Peg Hirvonen Charitable Foundation generated $11.9m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 67.2% each year . All expenses for the organization totaled $226.0k during the year ending 12/2022. While expenses have increased by 4.4% 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 2015, Ray & Peg Hirvonen Charitable Foundation has awarded 291 individual grants totaling $1,212,256. 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 | $11,540,810 |
| Interest on Savings | $5,692 |
| Dividends & Interest | $313,769 |
| 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 | $11,860,271 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $949 |
| Total operating and administrative expenses | $2,955 |
| Contributions, gifts, grants paid | $223,000 |
| Total expenses and disbursements | $225,955 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,031,662 |
| 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 | $13,810,140 |
| 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 $223,000 in support to 39 organizations.
| Grant Recipient | Amount |
|---|---|
BAY CLIFF HEALTH CAMP PURPOSE: PROGRAM SUPPORT, INCLUDING COVID & VIRTUAL CAMPING COSTS | $10,000 |
LAKE SUPERIOR LIFE HOME HEALTH HOSP PURPOSE: PROGRAM SUPPORT | $3,000 |
MARQUETTE CITY BAND INC PURPOSE: UNDERWRITE SUMMER BAND PROFORMANCES | $1,000 |
MARQUETTE BEAUTIFICATION RESTORATIO PURPOSE: PROGRAM SUPPORT - PETUNIA PANDEMONIUM & FR MARQUETTE STATUE RESTORATION | $10,000 |
MARQUETTE MARITIME MUSEUM PURPOSE: CAPITAL - ELECTRICAL UPGRADES | $10,000 |
MARQUETTE REGIONAL HISTORY MUSEUM PURPOSE: PROGRAM SUPPORT FOR OPERATIONS | $10,000 |