The Growmark Foundation
- Assets
- $3.9m
- Revenue
- $269.3k
- Investments
- $3.5m
- Employees
- 0
- Location
- Bloomington, IL
- Founding
- 11/2001
- Data as of
- 12/2023
- EIN
- 37-1401632
Organization Overview
The Growmark Foundation is located in Bloomington, IL. The organization was established in 2001. According to its NTEE Classification (T30) the organization is classified as: Public 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. Growmark 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 12/2023, Growmark Foundation generated $269.3k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $2.5m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Growmark Foundation has awarded 655 individual grants totaling $5,100,318. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
NO DIRECT ACTIVITIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bradley Drake Director | 0 | $0 | |
Wade Mittelstadt Director | 0 | $0 | |
Karmy Kays Director | 0 | $0 | |
Bill Covey Director | 0 | $0 | |
Barry Schmidt Director | 0 | $0 | |
Mark Weilbacher Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $3,400 |
| Interest on Savings | $146,312 |
| 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 | $119,565 |
| Total Revenue | $269,277 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,358 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $15,728 |
| Total operating and administrative expenses | $17,086 |
| Contributions, gifts, grants paid | $2,505,692 |
| Total expenses and disbursements | $2,522,778 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $124,589 |
| Savings and temporary cash investments | $291,902 |
| 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 | $3,489,787 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $24,352 |
| Total assets | $3,930,630 |
| Accounts payable and accrued expenses | $9,021 |
| 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 | $9,021 |
Grants Awarded
Over the last fiscal year, The Growmark Foundation has awarded $2,505,692 in support to 180 organizations.
| Grant Recipient | Amount |
|---|---|
CONESTOGA COLLEGE FOUNDATION PURPOSE: FOR STUDENT SCHOLARSHIPS | $2,000 |
AGRIBUSINESS ASSOCIATION OF IOWA PURPOSE: FOR SUPPORT OF AGRICULTURAL ACTIVITIES | $1,000 |
WESTERN UNIVERSITY FOUNDATION PURPOSE: FOR STUDENT SCHOLARSHIPS | $2,000 |
ALZHEIMER'S ASSOCIATION PURPOSE: FOR SUPPORT OF COMMUNITY CHARITABLE ACTIVITIES | $100 |
AGRICULTURE FUTURE OF AMERICA PURPOSE: FOR SUPPORT OF AGRICULTURAL ACTIVITIES | $110,000 |
AMERICAN CANCER SOCIETY PURPOSE: FOR SUPPORT OF COMMUNITY CHARITABLE ACTIVITIES | $2,550 |