Bill & Lois Smith Family Foundation
- Assets
- $4.5m
- Revenue
- $682.1k
- Investments
- $4.4m
- Employees
- 0
- Location
- Allegan, MI
- Founding
- 01/2000
- Data as of
- 12/2022
- EIN
- 38-3472742
Organization Overview
Bill & Lois Smith Family Foundation is located in Allegan, MI. The organization was established in 2000. 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. Bill & Lois Smith Family 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, Bill & Lois Smith Family Foundation generated $682.1k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 38.4% each year . All expenses for the organization totaled $290.7k during the year ending 12/2022. While expenses have increased by 6.4% per year over the past 7 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, Bill & Lois Smith Family Foundation has awarded 120 individual grants totaling $1,230,200. 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 |
|---|---|---|---|
Wesley H Smith President, T | 0 | $0 | |
Lois J Smith Vice Preside | 0 | $0 | |
Cassandra J Atkins Secretary, T | 0 | $0 | |
Wesley H Smith Treasurer, T | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $467,638 |
| Interest on Savings | $1,577 |
| Dividends & Interest | $91,291 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $121,599 |
| Capital Gain Net Income | $121,056 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $682,105 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $614 |
| Taxes | $2,410 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $40 |
| Total operating and administrative expenses | $52,725 |
| Contributions, gifts, grants paid | $238,000 |
| Total expenses and disbursements | $290,725 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1 |
| Savings and temporary cash investments | $126,175 |
| Net Accounts receivable | $182 |
| 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 | $4,385,462 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $4,511,820 |
| 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, Bill & Lois Smith Family Foundation has awarded $238,000 in support to 20 organizations.
| Grant Recipient | Amount |
|---|---|
BILLY GRAHAM EVANGELICAL ASSOC PURPOSE: OPERATIONS | $25,000 |
CAMP BEECHPOINT INC PURPOSE: OPERATIONS | $40,000 |
CHILD EVANGELISM FELLOWSHIP PURPOSE: OPERATIONS | $6,000 |
LOVE INC PURPOSE: OPERATIONS | $10,000 |
FIRST BAPTIST CHURCH PURPOSE: OPERATIONS | $36,000 |
SALVATION ARMY PURPOSE: OPERATIONS | $8,000 |