Galencher Nagy Foundation Inc
- Assets
- $1.1m
- Revenue
- $143.9k
- Investments
- $921.7k
- Employees
- 0
- Location
- Bloomfield Hills, MI
- Founding
- 01/1997
- Data as of
- 12/2023
- EIN
- 38-3319580
Organization Overview
Galencher Nagy Foundation Inc is located in Bloomfield Hills, MI. The organization was established in 1997. 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. Galencher Nagy Foundation 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 12/2023, Galencher Nagy Foundation Inc generated $143.9k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 21.2% each year . All expenses for the organization totaled $78.1k during the year ending 12/2023. While expenses have increased by 0.7% per year over the past 8 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 2016, Galencher Nagy Foundation Inc has awarded 107 individual grants totaling $339,473. 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
THE FOUNDATION ACCOMPLISHES ITS CHARITABLE PURPOSES BY CONTRIBUTING TO ORGANIZATIONS THAT SERVE ITS MISSION. WE HAVE CONTRIBUTED TO 8 UNIQUE ORGANIZATIONS DURING 2023 TOTALING $65,615.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Valerie Ellis Pres & Director | 10 | $0 | |
Lauren Ellis Vice President | 2 | $0 | |
Paul Ellis Treasurer | 2 | $0 | |
Jennifer Gibson Secretary | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $1,377 |
| Dividends & Interest | $19,389 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $123,167 |
| Capital Gain Net Income | $123,167 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $143,933 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,258 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $618 |
| Total operating and administrative expenses | $12,519 |
| Contributions, gifts, grants paid | $65,615 |
| Total expenses and disbursements | $78,134 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $124,506 |
| Savings and temporary cash investments | $50,360 |
| 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 | $921,723 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,096,589 |
| 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, Galencher Nagy Foundation Inc has awarded $65,615 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
CAMP CHRISTOPHER PURPOSE: DISTRIBUTION TO A QUALIFIED CHARITY | $2,000 |
EL BATHEL BAPTIST CHURCH PURPOSE: DISTRIBUTION TO A QUALIFIED CHARITY | $8,000 |
SCAMP PURPOSE: DISTRIBUTION TO A QUALIFIED CHARITY | $16,000 |
ROYALVIEW ELEMENTARY SCHOOL PURPOSE: DISTRIBUTION TO A QUALIFIED CHARITY | $1,003 |
SISTERS TEACHING YOUNG LADIES EXCEL PURPOSE: DISTRIBUTION TO A QUALIFIED CHARITY | $8,000 |
FRANKLIN HIGH SCHOOL PURPOSE: DISTRIBUTION TO A QUALIFIED CHARITY | $22,612 |