Charley Creek Foundation Inc

Organization Overview

Charley Creek Foundation Inc is located in Wabash, IN. The organization was established in 2002. According to its NTEE Classification (T23) the organization is classified as: Private Operating 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. Charley Creek 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 12/2021, Charley Creek Foundation Inc generated $2.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (40.8%) each year. All expenses for the organization totaled $1.3m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (43.6%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990PF Filing

TAX YEAR

2021

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE CORPORATION'S ARTICLES OF INCORPORATION PROVIDE THAT THE CORPORATION IS ORGANIZED EXCLUSIVELY FOR EDUCATIONAL, CHARITABLE, AND SCIENTIFIC PURPOSES, WITHIN THE MEANING OF SECTION 501(C)(3) OF THE CODE, AS A SECTION 509(A)(3) TYPE I SUPPORTING ORGANIZATION PERFORMING THE FUNCTIONS OR CARRYING OUT THE PURPOSES OF THE HONEYWELL FOUNDATION, INC., EACH OF WHICH IS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3) OF THE CODE & SECTION 170(B)(1)(A)(VI) OF THE CODE. THE HONEYWELL FOUNDATION, INC. IS THE LEADING WABASH, INDIANA-BASED COMMUNITY ENRICHMENT ORGANIZATION WHICH OPERATES PUBLIC PARKS, EVENT SPACES, & ART EXHIBITIONS IN WABASH, INDIANA.


EXCLUSIVELY IN FURTHERANCE OF THE PURPOSES DESCRIBED ABOVE, THE CORPORATION MAY OWN, HOLD, OPERATE (INCLUDING OFFERING TOURS TO THE GENERAL PUBLIC AND MAINTAIN A HISTORIC PROPERTY IN WABASH, INDIANA AND ASSOCIATED TANGIBLE PROPERTY) PROPERTY. IT MAY ALSO ENCOURAGE THE DEVELOPMENT OF TALENTED ARTISTS AND AUTHORS BY OFFERING INSTRUCTION, SCHOLARSHIPS AND FELLOWSHIPS TO SELECTED INDIVIDUALS, SPECIFICALLY INCLUDING BUT NOT LIMITED TO, SPONSORING A MASTER ARTISTS IN RESIDENCE PROGRAM AT ANY PROPERTY OWNED BY THE CORPORATION.THE CORPORATION MAY (I) OWN, HOLD, OPERATE (INCLUDING OFFERING TOURS TO THE GENERAL PUBLIC AND MAINTAIN HISTORIC PROPERTY IN WABASH, INDIANA AND ASSOCIATED TANGIBLE PROPERTY); AND (II) ENCOURAGE THE DEVELOPMENT OF TALENTED ARTISTS AND AUTHORS BY OFFERING INSTRUCTION, SCHOLARSHIPS AND FELLOWSHIPS TO SELECTED INDIVIDUALS, SPECIFICALLYINCLUDING BUT NOT LIMITED TO, SPONSORING A MASTER ARTISTS IN RESIDENCE PROGRAM AT ANY PROPERTY OWNED BY THE CORPORATION.


DURING THE 2020 TAX YEAR, THE CORPORATION OPERATED SOLELY IN FUTHERANCE OF THE ABOVE PURPOSES BY CARRYING ON ACTIVITIES FOR THE BENEFIT OF, PERFORMING THE FUNCTIONS OF, AND/OR CARRYING OUT THE PURPOSES OF THE SUPPORTED ORGANIZATIONS. THE CORPORATION'S DIRECT CHARITABLE ACTIVITIES FOR THE 2020 TAX YEAR INCLUDED (1) MAKING THREE GRANTS TO ITS SUPPORTED ORGANIZATIONS, WHICH ARE SHOWN ON PART XV, FORM 990-PF AND (2) OWNING, RESTORING, PRESERVING, OPERATING, AND MAKING AVAILABLE FOR PUBLIC USE AND DISPLAY THE CHARLEY CREEK INN, WHICH IS A HISTORIC AND ARCHITECTURALLY-SIGNIFICANT HOTEL IN DOWN TOWN WABASH, INDIANA.


THE CORPORATION AND ITS ACTIVITIES ARE OPERATED, SUPERVISED, AND CONTROLLED BY THE SUPPORTED ORGANIZATIONS, BECAUSE THEY CONTROL TWO-THIRDS OF THE VOTES OF THE CORPORATION'S BOARD OF DIRECTORS. THE CORPORATION'S BOARD OF DIRECTORS IS COMPRISED OF SEVEN MEMBERS. EACH OF THE TWO SUPPORTED ORGANIZATIONS MAY APPOINT ONE DIRECTOR (BYLAWS, SECTION 2.03), NONE OF WHOM MAY BE A FAMILY


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Financial Statements

Statement of Revenue
Contributions, Gifts, Grants & Similar $0
Interest on Savings $397,154
Dividends & Interest $497,601
Net Rental Income-$19,551
Net Gain on Sale of Assets $946,161
Capital Gain Net Income $946,161
Net ST Capital Gain $92,071
Income Modifications $0
Profit on Inventory Sales $0
Other Income $5,490
Total Revenue $2,206,406

Grants Awarded

Over the last fiscal year, Charley Creek Foundation Inc has awarded $820,000 in support to 3 organizations.

Grant RecipientAmount

CHARLEY CREEK INN HOSPITALITY CO HONEYWELL FOUNDATION & INDIANA LANDMARKS

PURPOSE: UNRESTRICTED

$800,000

HONEYWELL FOUNDATION

Org PageRecipient Profile

Wabash, IN

PURPOSE: UNRESTRICTED

$10,000

INDIANA LANDMARKS

PURPOSE: UNRESTRICTED

$10,000
View Grant Profile

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