Grace E Buchanan Memorial Fuund Inc
- Assets
- $920.9k
- Revenue
- $42.0k
- Investments
- $452.2k
- Employees
- 0
- Location
- Monmouth, IL
- Founding
- 01/1986
- Data as of
- 12/2021
- EIN
- 37-1098842
Organization Overview
Grace E Buchanan Memorial Fuund Inc is located in Monmouth, IL. The organization was established in 1986. According to its NTEE Classification (A80) the organization is classified as: Historical Organizations, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Grace E Buchanan Memorial Fuund 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, Grace E Buchanan Memorial Fuund Inc generated $42.0k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.3%) each year. All expenses for the organization totaled $38.5k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (2.1%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROMOTE EDUCATION CONCERNING, PARTICIPATION IN, AND THE ENJOYMENT OF FINE ARTS(INCLUDING BUT NOT LIMITED TO, THE ARTS OF PAINTING, DRAWING AND SCULPTURE, MUSIC AND CERAMICS) AND TO PROMOTE THE DISPLAY OF SUCH ART OBJECTS AND MUSICAL PERFORMANCES IN WARREN COUNTY, ILLINOIS; TO PROMOTE THE SPREAD OF KNOWLEDGE OF THE FINE ARTS, AND THE CREATION, APPRECIATION AND PARTICIPATION IN THE ARTS, AS CREATORS, PERFORMERS OR OBSERVERS, BY THE GENERAL PUBLIC AND PARTICULARLY BY RESIDENTS OF WARREN COUNTY, ILLINOIS; TO EMPLOY ON A TEMPORARY, PART TIME OR FULL TIME BASIS SUCH PROFESSIONAL, SEMI-PROFESSIONAL OR AMATEUR ARTISIANS WHO THE TRUSTEES CONSIDER WILL ADVANCE THE EDUCATIONAL AND CHARITABLE PURPOSES HERIN SET FORTH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Aaron Jensen Treasurer | 2 | $0 | |
Colleen Cramblet President | 2 | $0 | |
Michael Pearson Director | 1 | $0 | |
Alan Kulczewski Director | 1 | $0 | |
Mark Wilhardt Director | 1 | $0 | |
Jamie Martin Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $24,876 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $17,089 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $41,965 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $909 |
| Depreciation | $897 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,718 |
| Total operating and administrative expenses | $3,949 |
| Contributions, gifts, grants paid | $34,535 |
| Total expenses and disbursements | $38,484 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $288,916 |
| Savings and temporary cash investments | $150,000 |
| 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 | $28,345 |
| Other assets | $1,468 |
| Total assets | $920,923 |
| Accounts payable and accrued expenses | $11 |
| 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 | $11 |
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