Wege Foundation
- Assets
- $288.0m
- Revenue
- $24.8m
- Investments
- $108.0m
- Employees
- 0
- Location
- Grand Rapids, MI
- Founding
- 07/1967
- Data as of
- 12/2020
- EIN
- 38-6124363
Organization Overview
Wege Foundation is located in Grand Rapids, MI. The organization was established in 1967. 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. Wege 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 12/2020, Wege Foundation generated $24.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (7.7%) each year. All expenses for the organization totaled $22.7m during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Van Putten President, CEO | 40 | $372,749 | |
Kathleen Furtado Treasurer | 40 | $141,655 | |
Emily Aleman-Mcalpine Program Officer | 40 | $132,087 | |
Leslie Young Program Associate | 40 | $91,032 | |
Emily Mathein Program Associate | 40 | $66,152 | |
Jonathan M Wege Chair, Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Prime Buchholz & Associates | 12/30/21 | $242,484 |
Honigman | 12/30/21 | $55,961 |
Varnum Llp | 12/30/21 | $115,047 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $853,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $4,394,701 |
| Net Rental Income | $400 |
| Net Gain on Sale of Assets | $19,488,559 |
| Capital Gain Net Income | $19,488,559 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $53,289 |
| Total Revenue | $24,789,949 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $512,265 |
| Other employee salaries and wages | $273,857 |
| Pension plans, employee benefits | $198,207 |
| Interest | $21,277 |
| Taxes | $706,850 |
| Depreciation | $100,211 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $13,803 |
| Printing and publications | $0 |
| Other expenses | $443,684 |
| Total operating and administrative expenses | $4,440,105 |
| Contributions, gifts, grants paid | $18,308,984 |
| Total expenses and disbursements | $22,749,089 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,501,110 |
| Savings and temporary cash investments | $7,466,671 |
| 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 | $2,317,606 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $25,232,230 |
| Net Land, buildings, and equipment | $499,492 |
| Other assets | $168,306,115 |
| Total assets | $288,045,575 |
| Accounts payable and accrued expenses | $12,307 |
| Grants payable | $14,939,869 |
| 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 | $14,952,176 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
Bader Philanthropies Inc Milwaukee, WI | $26,809,232 | $30,829,351 |
The Cummins Foundation Inc Columbus, IN | $50,145,455 | $23,676,992 |
The Samuel And Jean Frankel Jewish Heritage Foundation Troy, MI | $178,134,480 | $24,091,324 |