Jean M R Smith Foundation
- Assets
- $7.3m
- Revenue
- $378.6k
- Investments
- $7.0m
- Employees
- 0
- Location
- Bad Axe, MI
- Founding
- 04/1997
- Data as of
- 12/2022
- EIN
- 38-3323030
Organization Overview
Jean M R Smith Foundation is located in Bad Axe, MI. The organization was established in 1997. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Jean M R Smith 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, Jean M R Smith Foundation generated $378.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (14.1%) each year. All expenses for the organization totaled $539.6k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Jean M R Smith Foundation has awarded 218 individual grants totaling $1,093,054. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marion Herrington Secretary | 1 | $0 | |
John Schwedler Vice Pres | 0.5 | $1,200 | |
Rosemary Esch Vp/exec Dir | 16 | $31,750 | |
David Cooke President | 2.5 | $0 | |
Marc Hill Treasurer | 1 | $1,200 | |
Amanda Rapp Member | 1 | $1,200 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,700 |
| Interest on Savings | $0 |
| Dividends & Interest | $236,339 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $140,552 |
| Capital Gain Net Income | $140,552 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $378,591 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $35,350 |
| Other employee salaries and wages | $15,966 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $24,294 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $1,630 |
| Printing and publications | $0 |
| Other expenses | $9,663 |
| Total operating and administrative expenses | $166,982 |
| Contributions, gifts, grants paid | $372,666 |
| Total expenses and disbursements | $539,648 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $368,644 |
| 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 | $7,319,571 |
| Accounts payable and accrued expenses | $677 |
| 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 | $677 |
Grants Awarded
Over the last fiscal year, Jean M R Smith Foundation has awarded $372,666 in support to 75 organizations.
| Grant Recipient | Amount |
|---|---|
HURON COUNTY IMAGINATION LIBRARY PURPOSE: GRANT FOR OPERATIIONS & IMPROVEMENT | $1,800 |
MADONNA UNIVERSITY PURPOSE: GRANT FOR GENERAL OPERATIONS | $1,200 |
POINTE AUX BARQUES LIGHTHOUSE SOCIE PURPOSE: GRANT FOR OPERATIONS & IMPROVEMENTS | $600 |
COUNCIL OF MICHIGAN FOUNDATIONS PURPOSE: GRANT FOR GENERAL OPERATIONS | $3,900 |
JAYLEN BARANSKI PURPOSE: SCHOLARSHIP | $619 |
ELLIE BENDER PURPOSE: SCHOLARSHIP | $2,162 |