Gilbert Reese Family Foundation
- Assets
- $32.6m
- Revenue
- $5.1m
- Investments
- $28.1m
- Employees
- 0
- Location
- Newark, OH
- Founding
- 02/1995
- Data as of
- 12/2021
- EIN
- 31-1421173
Organization Overview
Gilbert Reese Family Foundation is located in Newark, OH. The organization was established in 1995. 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. Gilbert Reese Family 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, Gilbert Reese Family Foundation generated $5.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 53.6% each year . All expenses for the organization totaled $1.8m during the year ending 12/2021. While expenses have increased by 15.8% per year over the past 7 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 2016, Gilbert Reese Family Foundation has awarded 63 individual grants totaling $6,158,946. 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 |
|---|---|---|---|
Sarah R Wallace Chair | 5 | $0 | |
John H Wallace President | 2 | $0 | |
Louella Reese Treasurer | 2 | $0 | |
Sally W Heckman Secretary | 2 | $0 | |
Gilbert H Reese Trustee | 2 | $0 | |
Jennifer Roberts Exec Director | 22 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $955,349 |
| Interest on Savings | $14 |
| Dividends & Interest | $708,323 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $3,387,542 |
| Capital Gain Net Income | $3,387,542 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $5,051,228 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $24,143 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $15,720 |
| Total operating and administrative expenses | $199,339 |
| Contributions, gifts, grants paid | $1,645,684 |
| Total expenses and disbursements | $1,845,023 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,925,085 |
| 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 | $5,765,920 |
| Net Land, buildings, and equipment | $205,089 |
| Other assets | $1,351,437 |
| Total assets | $32,624,805 |
| 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, Gilbert Reese Family Foundation has awarded $1,645,684 in support to 15 organizations.
| Grant Recipient | Amount |
|---|---|
NEWARK DEVELOPMENT PARTNERS PURPOSE: NEWARK ARCADE PROJECT | $600,000 |
Newark, OH PURPOSE: ALFORD BUILDING FUND | $300,000 |
GRANVILLE ATHLETIC COMPLEX FUND PURPOSE: PLEDGE WALTER HODGES STADIUM | $250,000 |
Newark, OH PURPOSE: DONATION FOR NEW ZAMBONI | $125,000 |
Newark, OH PURPOSE: EMPOWER CHALLENGE | $113,000 |
Islamorada, FL PURPOSE: DONATION | $65,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
Morgan Family Foundation Yellow Springs, OH | $51,827,477 | $1,582,241 |
Harry M And Violet Turner Charitable Trust Springfield, OH | $29,217,065 | $2,348,308 |
Penske Foundation Inc Bloomfield Hills, MI | $17,008,099 | $10,243,924 |