The Ave Maria Foundation
- Assets
- $4.9m
- Revenue
- $904.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Ann Arbor, MI
- Founding
- 05/1984
- Data as of
- 12/2022
- EIN
- 38-2514364
Organization Overview
The Ave Maria Foundation is located in Ann Arbor, MI. The organization was established in 1984. 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. Ave Maria 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, Ave Maria Foundation generated $904.2k in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $939.6k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Ave Maria Foundation has awarded 12 individual grants totaling $312,299. 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
THE AVE MARIA FOUNDATION (TAMF) COVERS EXPENSES (INCLUDING PRIEST STIPENDS) FOR A CHAPEL THAT OFFERS FOUR DAILY MASSES TO APPROXIMATELY 300 INDIVIDUALS A DAY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas S Monaghan President/director | 40 | $35,568 | |
Jeff Randolph Secretary/director | 20 | $66,101 | |
Paul Roney Treasurer/director | 10 | $94,773 | |
George Forrest Dir Acctg & Tax | 16 | $60,656 | |
Rebecca Zmuda Hr Manager | 20 | $62,842 | |
Eric Van Heusen Scout Coordinator | 40 | $55,734 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $735,400 |
| Interest on Savings | $0 |
| Dividends & Interest | $20,489 |
| 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 | $148,279 |
| Total Revenue | $904,168 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $196,442 |
| Other employee salaries and wages | $112,636 |
| Pension plans, employee benefits | $159,820 |
| Interest | $0 |
| Taxes | $49,738 |
| Depreciation | $5,806 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $102,334 |
| Printing and publications | $12,234 |
| Other expenses | $187,506 |
| Total operating and administrative expenses | $870,808 |
| Contributions, gifts, grants paid | $68,773 |
| Total expenses and disbursements | $939,581 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $806,052 |
| Savings and temporary cash investments | $1,120,827 |
| Net Accounts receivable | $108,228 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $673,823 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $280,000 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $105,760 |
| Other assets | $1,770,889 |
| Total assets | $4,865,579 |
| 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 | $1,770,889 |
| Total liabilities | $1,770,889 |
Grants Awarded
Over the last fiscal year, The Ave Maria Foundation has awarded $68,773 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
AVE MARIA SCHOOL OF LAW PURPOSE: GENERAL SUPPORT | $1,738 |
AVE MARIA UNIVERSITY PURPOSE: GENERAL SUPPORT | $42,477 |
LEGATUS PURPOSE: GENERAL SUPPORT | $22,558 |
ARBORWOMEN HEALTH PURPOSE: GENERAL SUPPORT | $2,000 |