Ideal Industries Foundation
- Assets
- $5.0m
- Revenue
- $357.3k
- Investments
- $4.7m
- Employees
- 0
- Location
- Sycamore, IL
- Founding
- 05/1987
- Data as of
- 12/2022
- EIN
- 36-3449960
Organization Overview
Ideal Industries Foundation is located in Sycamore, IL. The organization was established in 1987. 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. Ideal Industries 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 12/2022, Ideal Industries Foundation generated $357.3k 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 (3.6%) each year. All expenses for the organization totaled $418.1k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Ideal Industries Foundation has awarded 268 individual grants totaling $2,209,762. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE PART XV-LINE 3A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kent Wrenn Director | 1 | $0 | |
Jordan Gladden Director | 1 | $0 | |
Shannon Schmittle Recording Secretary | 1 | $0 | |
Nicole Juday Rhoads Executive Chairman | 1 | $162,000 | |
Sheila Johnsen Vice President & Treasurer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $257,625 |
| Interest on Savings | $14 |
| Dividends & Interest | $122,852 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$23,239 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $357,252 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $162,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $8,267 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $8,943 |
| Total operating and administrative expenses | $196,675 |
| Contributions, gifts, grants paid | $221,452 |
| Total expenses and disbursements | $418,127 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,901 |
| Savings and temporary cash investments | $247,288 |
| 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 | $4,726,565 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $4,988,754 |
| 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 | $1,994 |
| Total liabilities | $1,994 |
Grants Awarded
Over the last fiscal year, Ideal Industries Foundation has awarded $221,452 in support to 26 organizations.
| Grant Recipient | Amount |
|---|---|
ADVENTURE WORKS PURPOSE: GENERAL OPERATING SUPPORT | $16,000 |
CASA PURPOSE: GENERAL OPERATING SUPPORT | $16,000 |
ANEW PURPOSE: GENERAL OPERATING SUPPORT | $5,000 |
AMERICAN RED CROSS PURPOSE: CHARITABLE | $25,770 |
CHICAGO WOMEN IN THE TRADES PURPOSE: GENERAL OPERATING SUPPORT | $5,000 |
DEKALB COUNTY COMMUNITY FOUNDATION PURPOSE: GENERAL OPERATING SUPPORT | $1,250 |