Besser Foundation
- Assets
- $19.6m
- Revenue
- $2.9m
- Investments
- $18.9m
- Employees
- 0
- Location
- Alpena, MI
- Founding
- 09/1944
- Data as of
- 12/2021
- EIN
- 38-6071938
Organization Overview
Besser Foundation is located in Alpena, MI. The organization was established in 1944. 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. Besser 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, Besser Foundation generated $2.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 29.7% each year . All expenses for the organization totaled $1.1m during the year ending 12/2021. While expenses have increased by 4.7% 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 2015, Besser Foundation has awarded 190 individual grants totaling $6,486,837. 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 |
|---|---|---|---|
Gary Dawley Secretary/tr | 0 | $4,360 | |
James C Park President | 0 | $4,360 | |
Ann Burton Trustee | 0 | $4,360 | |
Chris Mccoy Trustee | 0 | $4,360 | |
Patricia Gardner Vice Preside | 0 | $4,360 | |
Kimberly Park Trustee | 0 | $4,360 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $671 |
| Dividends & Interest | $492,478 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,422,901 |
| Capital Gain Net Income | $2,422,901 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $2,916,050 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $54,430 |
| Other employee salaries and wages | $15,350 |
| Pension plans, employee benefits | $20,742 |
| Interest | $0 |
| Taxes | $41,906 |
| Depreciation | $101 |
| Occupancy | $4,943 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $12,883 |
| Total operating and administrative expenses | $164,980 |
| Contributions, gifts, grants paid | $950,337 |
| Total expenses and disbursements | $1,115,317 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $726,807 |
| 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 | $18,899,650 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $692 |
| Total assets | $19,627,149 |
| Accounts payable and accrued expenses | $2,117 |
| 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 | $114,083 |
| Total liabilities | $116,200 |
Grants Awarded
Over the last fiscal year, Besser Foundation has awarded $950,337 in support to 21 organizations.
| Grant Recipient | Amount |
|---|---|
BESSER MUSEUM PURPOSE: OPERATING EXPENSES | $260,000 |
ALPENA PUBLIC SCHOOLS PURPOSE: STEM GRANT | $134,253 |
Alpena, MI PURPOSE: BUILDING PROJECT | $100,000 |
Alpena, MI PURPOSE: MANUFACTURING EDUCATION | $100,000 |
HABITAT FOR HUMANITY PURPOSE: CAMPAIGN & RESTORATION | $55,000 |
Alpena, MI PURPOSE: OPERATING EXPENSES | $44,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Douglas & Maria Devos Foundation Grand Rapids, MI | $79,921,409 | $9,501,037 |
Fred F Silk Charitable Foundation Louisville, OH | $0 | $2,703,630 |
Jewish Foundation Of Cincinnati Cincinnati, OH | $344,322,004 | $65,111,190 |
Charles F Kettering Foundation Dayton, OH | $413,895,327 | $17,762,033 |
Jay And Jeanie Schottenstein Foundation Columbus, OH | $12,858,446 | $29,259,001 |
The Lozick Family Foundation Pepper Pike, OH | $264,438,182 | $44,457,050 |
Dow Company Foundation Bay City, MI | $175,531,548 | $110,489,699 |
Timken Foundation Of Canton Canton, OH | $32,951,548 | $35,361,538 |
Irving S Gilmore Foundation Kalamazoo, MI | $388,410,325 | $41,180,610 |
Reiman Foundation Inc Pewaukee, WI | $64,480,239 | $12,529,672 |
Siemer Family Foundation Columbus, OH | $55,510,313 | $15,843,554 |
Orphan Foundation Of America Orph Cleveland, OH | $10,515,752 | $16,785,416 |