Geneseo Foundation
- Assets
- $24.0m
- Revenue
- $1.1m
- Investments
- $23.0m
- Employees
- 0
- Location
- Geneseo, IL
- Founding
- 04/1977
- Data as of
- 03/2024
- EIN
- 36-6079604
Organization Overview
Geneseo Foundation is located in Geneseo, IL. The organization was established in 1977. 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. Geneseo 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 03/2024, Geneseo Foundation generated $1.1m 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 (40.6%) each year. All expenses for the organization totaled $1.7m during the year ending 03/2024. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Geneseo Foundation has awarded 205 individual grants totaling $5,750,303. 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
2024
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION AWARDS SCHOLARSHIPS TO WORTHY GRADUATES OF GENESEO HIGH SCHOOL. THERE WERE APPROXIMATELY 140 RECIPIENTS.
THE FOUNDATION AWARDS SCHOLARSHIPS TO OTHER WORTHY STUDENTS. THERE WERE APPROXIMATELY 28 RECIPIENTS.
THE FOUNDATION DONATES TO THE GENESEO COMMUNITY SCHOOL DISTRICT FOR VARIOUS NEEDS
THE FOUNDATION DONATES TO FRIENDS OF HENNEPIN CANAL FOR VARIOUS PROJECTS TO PRESERVE, PROTECT, AND ENHANCE THE PARK EXPERIENCE AT THE HENNEPIN CANAL STATE PARK.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brandon Sieben Foundation Manager | 1 | $0 | |
Brett Lohman Foundation Manager | 1 | $0 | |
Eric Johnson Foundation Manager | 1 | $0 | |
Jeffrey Lang Foundation Manager | 1 | $0 | |
John T Greenwood Foundation Manager | 1 | $0 | |
Michael Gernant Foundation Manager | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $58,522 |
| Interest on Savings | $58,005 |
| Dividends & Interest | $707,545 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $295,966 |
| Capital Gain Net Income | $295,966 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,120,038 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $87,618 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $26,275 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $2,115 |
| Total operating and administrative expenses | $122,946 |
| Contributions, gifts, grants paid | $1,560,034 |
| Total expenses and disbursements | $1,682,980 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $993,539 |
| Savings and temporary cash investments | $0 |
| 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 | $7,485 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $25,000 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $23,968,504 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $413,502 |
| 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 | $413,502 |
Grants Awarded
Over the last fiscal year, Geneseo Foundation has awarded $1,560,034 in support to 58 organizations.
| Grant Recipient | Amount |
|---|---|
THE VILLAGE FLORIST PURPOSE: CHARITABLE CONTRIBUTION | $280 |
ROTARY CLUB OF GENESEO PURPOSE: CHARITABLE CONTRIBUTION | $1,000 |
THE GOOD SHEPHERD FOUNDATION OF HENRY COUNTY PURPOSE: CHARITABLE CONTRIBUTION | $1,000 |
KIWANIS CLUB OF GENESEO PURPOSE: CHARITABLE CONTRIBUTION | $1,000 |
HILLCREST HOME PURPOSE: CHARITABLE CONTRIBUTION | $1,000 |
GENESEO PERFORMING ARTS COUNCIL PURPOSE: CHARITABLE CONTRIBUTION | $1,000 |