State Farm Companies Foundation
- Assets
- $9.1m
- Revenue
- $20.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Bloomington, IL
- Founding
- 06/1968
- Data as of
- 12/2022
- EIN
- 36-6110423
Organization Overview
State Farm Companies Foundation is located in Bloomington, IL. The organization was established in 1968. 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. State Farm Companies 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, State Farm Companies Foundation generated $20.2m in total revenue. All expenses for the organization totaled $20.8m during the year ending 12/2022. While expenses have increased by 11.7% 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, State Farm Companies Foundation has awarded 76 individual grants totaling $100,598,868. 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
NOT APPLICABLE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Tipsord Chairman Of The Board And President | 0 | $0 | |
Mary Schmidt Vice President And Secretary | 0 | $0 | |
Dr W H Knight Jr Director | 0 | $0 | |
Pamela B Strobel Director | 0 | $0 | |
Jon C Farney Vice President And Treasurer | 0 | $0 | |
Michele Russo Vice President | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $20,257,736 |
| Interest on Savings | $155,754 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$221,297 |
| Capital Gain Net Income | $18,170,821 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $20,192,193 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $254,737 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $25 |
| Total operating and administrative expenses | $432,330 |
| Contributions, gifts, grants paid | $20,368,374 |
| Total expenses and disbursements | $20,800,704 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,058,702 |
| 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 | $9,058,702 |
| 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 | $731 |
| Total liabilities | $731 |
Grants Awarded
Over the last fiscal year, State Farm Companies Foundation has awarded $22,868,374 in support to 16 organizations.
| Grant Recipient | Amount |
|---|---|
GOOD NEIGHBOR GRANT PROGRAM PART VIA DONOR-ADVISED FUND (CHARITIES AID FOUN PURPOSE: EDUCATION AND CHARITABLE GIVING GRANTS | $1,503,500 |
ARIZONA STATE UNIVERSITY FOUNDATION FOR A NEW AMERICAN UNIVERSITY VIA DONOR PURPOSE: EDUCATION AWARD | $230,000 |
COLLIN COUNTY COMMUNITY COLLEGE DISTRICT FOUNDATION VIA DONOR-ADVISED FUND PURPOSE: EDUCATION AWARD | $105,000 |
DALLAS COUNTY COMMUNITY COLLEGE DISTRICT FOUNDATION INC VIA DONOR-ADVISED F PURPOSE: EDUCATION AWARD | $63,000 |
GEORGIA STATE UNIVERSITY FOUNDATION INC VIA DONOR-ADVISED FUND (CHARITIES A PURPOSE: EDUCATION AWARD | $400,000 |
HEARTLAND COMMUNITY COLLEGE FOUNDATION VIA DONOR-ADVISED FUND (CHARITIES AI PURPOSE: EDUCATION AWARD | $191,500 |