Salem Community Foundation Inc
- Assets
- $39.1m
- Revenue
- $3.5m
- Investments
- $0.0
- Employees
- 2
- Location
- Salem, OH
- Founding
- 07/1966
- Data as of
- 12/2022
- EIN
- 34-1001130
Organization Overview
Salem Community Foundation Inc is located in Salem, OH. The organization was established in 1966. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2022, Salem Community Foundation Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Salem Community 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 12/2022, Salem Community Foundation Inc generated $3.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (7.2%) each year. All expenses for the organization totaled $2.4m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (7.2%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Salem Community Foundation Inc has awarded 79 individual grants totaling $12,034,012. 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
BETTERMENT OF THE LOCAL COMMUNITY BY DISBURSEMENT OF GRANTS TO A VARIETY OF ORGANIZATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN CARRYING OUT THE EXEMPT PURPOSES, THE BETTERMENT OF THE COMMUNITY WAS ACHIEVED THROUGH THE DISBURSEMENT OF GRANTS TO A VARIETY OF ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
George Ws Hays Secretary | Officer | 0.2 | $0 |
Gary E Moffett Treasurer | Officer | 0.2 | $0 |
Robert S Mcculloch III Vice President | Officer | 0.2 | $0 |
John E Tonti President | Officer | 15 | $0 |
Deborah B Mcculloch Director | Trustee | 0.2 | $0 |
Richard K Lutsch Director | Trustee | 0.2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,200,830 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,200,830 |
| Total Program Service Revenue | $0 |
| Investment income | $1,407,087 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$162,970 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,456,677 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,156,675 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $101,520 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $7,926 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,150 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $95,703 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $27,325 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,283 |
| Insurance | $3,908 |
| All other expenses | $0 |
| Total functional expenses | $2,402,560 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $53,645 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $6,824 |
| Investments—publicly traded securities | $39,089,508 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $39,149,977 |
| Accounts payable and accrued expenses | $2,219 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,219 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $38,093,641 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $1,054,117 |
| Total liabilities and net assets/fund balances | $39,149,977 |
Grants Awarded
Over the last fiscal year, Salem Community Foundation Inc has awarded $903,945 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
Salem, OH PURPOSE: Operating Expenses and Equipment, Bond and Interst Payments, Additional Lap Lane for Score Board | $622,822 |
Kent, OH PURPOSE: Scholarships and Rural Scholars Program | $139,490 |
Salem, OH PURPOSE: Revovations to front lobby, adjoining rooms and ADA restrooms | $54,000 |
Salem, OH PURPOSE: Supports 20 social service agencies within Northern Columbiana County | $40,000 |
Salem, OH PURPOSE: Back to school clothing for local area needy children, Computers and networking equipment | $32,633 |
Salem, OH PURPOSE: McCulloch Park restoration project | $15,000 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Salem Community Foundation Inc has recieved totaling $126,942.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $70,000 |
Salem Rotary Foundation Salem, OH PURPOSE: SALEM ROTARY ENDOWMENT FUND | $18,000 |
Louis Mattevi Trust 6859012100 Chicago, IL PURPOSE: GENERAL | $13,801 |
T Rowe Price Program For Charitable Giving Inc Baltimore, MD PURPOSE: GENERAL OPERATING | $10,000 |
Sobotka Foundation Inc Atlanta, GA PURPOSE: DONATION | $10,000 |
Mckesson Foundation Dallas, TX PURPOSE: CHARITABLE | $5,000 |
Endowment Analysis
| Beg. Balance | $13,764,661 |
| Earnings | -$239,318 |
| Admin Expense | -$261,230 |
| Net Contributions | $841,337 |
| Grants | -$734,049 |
| Ending Balance | $10,648,545 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lancaster County Community Foundation Lancaster, PA | $92,463,036 | $19,491,842 |
The Community Foundatio Of Louisville Depository Inc Louisville, KY | $29,429,716 | $18,203,702 |
Stark Community Foundation Inc Canton, OH | $373,666,840 | $68,744,620 |
Muskegon County Community Foundation Muskegon, MI | $247,862,579 | $28,555,582 |
Greater Kanawha Valley Foundation Charleston, WV | $329,426,372 | $27,972,481 |
Community Foundation Of Greater Flint Flint, MI | $212,857,243 | $17,865,297 |
Ann Arbor Area Community Foundation Ann Arbor, MI | $219,428,649 | $31,760,954 |
Community Foundation Of St Joseph County Inc South Bend, IN | $247,009,993 | $29,572,898 |
Community Foundation Of Greater Johnstown Johnstown, PA | $89,313,800 | $19,729,908 |
Fremont Area Community Foundation Fremont, MI | $291,559,908 | $22,142,594 |
Grand Haven Area Community Foundation Inc Grand Haven, MI | $189,481,921 | $23,464,810 |
The Community Foundation Of Louisville Corporate Depository In Louisville, KY | $17,663,337 | $10,177,129 |