The Verna E Mckibben Memorial Foundation
- Assets
- $352.1k
- Revenue
- $99.1k
- Investments
- $330.4k
- Employees
- 0
- Location
- Detroit, MI
- Founding
- 10/1999
- Data as of
- 04/2022
- EIN
- 31-6608261
Organization Overview
The Verna E Mckibben Memorial Foundation is located in Detroit, MI. The organization was established in 1999. 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. Verna E Mckibben Memorial 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 04/2022, Verna E Mckibben Memorial Foundation generated $99.1k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 36.9% each year . All expenses for the organization totaled $30.3k during the year ending 04/2022. While expenses have increased by 2.8% per year over the past 4 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Comerica Bank Trust N A Co-Trustee | 2 | $3,026 | |
Joel R Aberth Co-Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $8,725 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $90,352 |
| Capital Gain Net Income | $90,352 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $99,077 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $3,026 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $403 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $100 |
| Total operating and administrative expenses | $9,320 |
| Contributions, gifts, grants paid | $21,000 |
| Total expenses and disbursements | $30,320 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $21,691 |
| 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 | $352,110 |
| 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, The Verna E Mckibben Memorial Foundation has awarded $21,000 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
Norton, OH PURPOSE: SUPPORT FOR DAILY OPERATION | $6,000 |
Norton, OH PURPOSE: SUPPORT FOR DAILY OPERATION | $5,000 |
Akron, OH PURPOSE: SUPPORT FOR DAILY OPERATION | $3,000 |
New Franklin, OH PURPOSE: SUPPORT FOR DAILY OPERATION | $3,000 |
Akron, OH PURPOSE: SUPPORT FOR DAILY OPERATION | $2,000 |
Uniontown, OH PURPOSE: SUPPORT FOR DAILY OPERATION | $2,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
John Joseph Sigstein Foundation Inc Huntington, IN | $0 | $2,327,854 |
Herrick Foundation Detroit, MI | $135,749,323 | $10,836,296 |
Wexner Foundation New Albany, OH | $6,442,852 | $9,976,190 |
We Energies Foundation Inc Milwaukee, WI | $74,423,525 | $6,027,785 |
The Samuel And Jean Frankel Fine Arts Foundation Bloomfield Hills, MI | $136,493,173 | $6,844,673 |
Bill & Julia Van Domelen Foundation Kalamazoo, MI | $132,053,109 | $12,849,321 |
Hcs Foundation Cleveland, OH | $105,976,263 | $7,902,405 |
Manoogian Simone Foundation Dearborn, MI | $47,087,292 | $4,923,874 |
Consumers Energy Foundation Jackson, MI | $77,869,075 | $10,169,744 |
The Ceres Trust Milwaukee, WI | $8,473,497 | $7,541,315 |
New Jci Foundation Inc Milwaukee, WI | $45,616,522 | $3,307,387 |
Marge & Charles J Schott Foundation Cincinnati, OH | $96,968,868 | $11,169,832 |