Wetsman Foundation
- Assets
- $2.6m
- Revenue
- $212.3k
- Investments
- $2.5m
- Employees
- 0
- Location
- Birmingham, MI
- Founding
- 06/1962
- Data as of
- 12/2021
- EIN
- 38-6056692
Organization Overview
Wetsman Foundation is located in Birmingham, MI. The organization was established in 1962. 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. Wetsman 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 12/2021, Wetsman Foundation generated $212.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (12.0%) each year. All expenses for the organization totaled $227.2k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (2.8%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Wetsman Foundation has awarded 226 individual grants totaling $2,178,510. 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 |
|---|---|---|---|
William M Wetsman President | 0 | $0 | |
Janis B Wetsman VP / Treasur | 0 | $0 | |
Adam F Wetsman Vp/asst Secr | 0 | $0 | |
David J Wetsman Vp/secr./ass | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $19,553 |
| Dividends & Interest | $42,276 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $101,015 |
| Capital Gain Net Income | $101,015 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $49,412 |
| Total Revenue | $212,256 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,572 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $24 |
| Total operating and administrative expenses | $24,160 |
| Contributions, gifts, grants paid | $202,998 |
| Total expenses and disbursements | $227,158 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $72,835 |
| Savings and temporary cash investments | $75,475 |
| 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 | $10,036 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | -$653 |
| Total assets | $2,613,098 |
| 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, Wetsman Foundation has awarded $202,998 in support to 26 organizations.
| Grant Recipient | Amount |
|---|---|
Detroit, MI PURPOSE: UNRESTRICTED CHARITABLE GIFT | $115,048 |
JEWISH FEDERATION OF METRO DETROIT PURPOSE: UNRESTRICTED CHARITABLE GIFT | $25,000 |
THE MUSIC CENTER PURPOSE: UNRESTRICTED CHARITABLE GIFT | $10,000 |
Los Angeles, CA PURPOSE: UNRESTRICTED CHARITABLE GIFT | $7,500 |
PLANNED PARENTHOOD MID PURPOSE: UNRESTRICTED CHARITABLE GIFT | $5,000 |
Baltimore, MD PURPOSE: UNRESTRICTED CHARITABLE GIFT | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
George Gund Foundation Cleveland, OH | $524,945,754 | $120,923,136 |
Lumina Foundation For Education Inc Indianapolis, IN | $0 | $124,727,424 |
The Robert D And Patricia E Kern Family Foundation Inc Waukesha, WI | $717,991,169 | $43,480,423 |
The Meijer Foundation Grand Rapids, MI | $118,103,895 | $43,970,388 |
Nationwide Foundation Columbus, OH | $86,187,581 | $42,470,606 |
Ford Motor Co Fund Dearborn, MI | $173,752,828 | $51,364,996 |
Farmer Family Foundation Cincinnati, OH | $165,004,074 | $63,392,827 |
American Electric Power Foundation Columbus, OH | $61,577,266 | $10,199,855 |
Anthem Foundation Inc Indianapolis, IN | $153,394,091 | $25,472,782 |
U S Bancorp Foundation Milwaukee, WI | $68,350,907 | $6,892,078 |
Dean & Barbara White Family Foundation Inc Merrillville, IN | $792,865,434 | $81,802,743 |
Wilson Sheehan Foundation Springfield, OH | $57,339,515 | $15,119,930 |