Cronin Foundation
- Assets
- $12.1m
- Revenue
- $882.5k
- Investments
- $12.0m
- Employees
- 0
- Location
- Marshall, MI
- Founding
- 04/1990
- Data as of
- 12/2022
- EIN
- 38-2908362
Organization Overview
Cronin Foundation is located in Marshall, MI. The organization was established in 1990. 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. Cronin 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, Cronin Foundation generated $882.5k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 58.6% each year . All expenses for the organization totaled $920.6k during the year ending 12/2022. While expenses have increased by 1.8% 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, Cronin Foundation has awarded 41 individual grants totaling $2,395,870. 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 FOUNDATION'S ONLY ACTIVITY IS MAKING GRANTS WHICH DO NOT REQUIRE SIGNIFICANT INVOLVEMENT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark O'connell President | 0.2 | $0 | |
David J Degraw Vice President | 0.2 | $0 | |
Ronald J Degraw Secretary/treasurer | 1.75 | $0 | |
Joseph Caron Board Member | 0.2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $56,256 |
| Interest on Savings | $0 |
| Dividends & Interest | $448,437 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $377,840 |
| Capital Gain Net Income | $376,808 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $882,533 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $20,189 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $130 |
| Total operating and administrative expenses | $71,204 |
| Contributions, gifts, grants paid | $849,370 |
| Total expenses and disbursements | $920,574 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $29,340 |
| Savings and temporary cash investments | $49,255 |
| 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 | $12,050,778 |
| 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, Cronin Foundation has awarded $849,370 in support to 15 organizations.
| Grant Recipient | Amount |
|---|---|
OAKLAWN HOSPITAL PURPOSE: BALANCE OF 2022 & ADVANCE OF 2023GRANT | $350,000 |
CITY OF MARSHALL-TERRA NOVA COLLECTIVE PURPOSE: CONCERT SERIES | $3,000 |
BRASS BAND OF BATTLE CREEK PURPOSE: BAND PERFORMANCES AT MARSHALL MIDDLE SCHOOL | $15,000 |
KIDS 'N' STUFF CHILDREN'S MUSEUM PURPOSE: EXHIBITS FOR CHILDREN'S MUSEUM | $10,000 |
EAST END STUDIO & GALLEY PURPOSE: BUILDING FACADE | $16,590 |
MARSHALL PUBLIC SCHOOLS PURPOSE: INDUSTRIAL ARTS MACHINES AND SUPPORTING PARTS | $52,280 |