Andover Foundation Inc
- Assets
- $503.6k
- Revenue
- $15.3k
- Investments
- $493.3k
- Employees
- 0
- Location
- Andover, OH
- Founding
- 06/1994
- Data as of
- 12/2023
- EIN
- 34-1731179
Organization Overview
Andover Foundation Inc is located in Andover, OH. The organization was established in 1994. According to its NTEE Classification (T70) the organization is classified as: Federated Giving Programs, 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. Andover 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 12/2023, Andover Foundation Inc generated $15.3k in total revenue. This represents relatively stable growth, over the past 3 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $23.0k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
AWARD SCHOLARSHIPS TO COLLEGE STUDENTS.
MAKE DONATION TO ANDOVER PUBLIC LIBRARY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Larry D Loveland President | 0 | $0 | |
Susan E Hill V-President | 0 | $0 | |
Richard B Kotila Secretary | 0 | $0 | |
Richard J Mole CPA Treasurer | 0 | $0 | |
Patricia A Carnahan Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $195 |
| Dividends & Interest | $15,147 |
| 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 | $15,342 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $204 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $757 |
| Total operating and administrative expenses | $961 |
| Contributions, gifts, grants paid | $22,000 |
| Total expenses and disbursements | $22,961 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,959 |
| Savings and temporary cash investments | $1,296 |
| 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 | $68,174 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $503,585 |
| 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, Andover Foundation Inc has awarded $22,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
VARIOUS SCHOLARSHIP RECIPIENTS PURPOSE: DISTRIBUTIONS TO COLLEGE SCHOLARSHIPS AS SPECIFIED IN ORGANIZATION'S BYLAWS | $20,000 |
ANDOVER PUBLIC LIBRARY PURPOSE: DONATION TO PUBLIC CHARITY AS SPECIFIED IN ORGANIZATION'S BYLAWS | $2,000 |