Illinois Tool Works Foundation
- Assets
- $0.0
- Revenue
- $8.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Glenview, IL
- Founding
- 09/1956
- Data as of
- 12/2022
- EIN
- 36-6087160
Organization Overview
Illinois Tool Works Foundation is located in Glenview, IL. The organization was established in 1956. 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. Illinois Tool Works 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, Illinois Tool Works Foundation generated $8.3m in total revenue. All expenses for the organization totaled $8.7m during the year ending 12/2022. While expenses have increased by 2.7% per year over the past 4 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Illinois Tool Works Foundation has awarded 161 individual grants totaling $34,572,033. 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
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Katie Lawler President | 0.1 | $0 | |
Rosemary Matzl Secretary | 0.1 | $0 | |
Michael Larsen Director | 0.1 | $0 | |
Chris O'herlihy Director | 0.1 | $0 | |
E Scott Santi Director | 0.1 | $0 | |
Jennifer Schott Director | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $8,339,751 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| 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 | $8,339,751 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $418 |
| Total operating and administrative expenses | $418 |
| Contributions, gifts, grants paid | $8,667,956 |
| Total expenses and disbursements | $8,668,374 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| 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 | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $0 |
| 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, Illinois Tool Works Foundation has awarded $8,667,956 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
NATIONAL MERIT SCHOLARSHIP CORP PURPOSE: UNRESTRICTED - GENERAL USE | $186,834 |
SCHOLARSHIP AMERICA PURPOSE: UNRESTRICTED - GENERAL USE | $496,880 |
THE BLACKBAUD GIVING FUND PURPOSE: UNRESTRICTED - GENERAL USE | $5,183,040 |
UNITED WAY OF METRO CHICAGO INC PURPOSE: UNRESTRICTED - GENERAL USE | $2,801,202 |