Michael T Assarian Foundation
- Assets
- $988.5k
- Revenue
- $26.9k
- Investments
- $451.7k
- Employees
- 0
- Location
- Detroit, MI
- Founding
- 12/2015
- Data as of
- 12/2022
- EIN
- 38-7090484
Organization Overview
Michael T Assarian Foundation is located in Detroit, MI. The organization was established in 2015. 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. Michael T Assarian 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, Michael T Assarian Foundation generated $26.9k 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 (14.0%) each year. All expenses for the organization totaled $75.9k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (4.8%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Michael T Assarian Foundation has awarded 103 individual grants totaling $449,003. 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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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $17,096 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $9,846 |
| Capital Gain Net Income | $9,846 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $26,942 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $19,457 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $447 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $19,904 |
| Contributions, gifts, grants paid | $56,000 |
| Total expenses and disbursements | $75,904 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $536,839 |
| 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 | $451,656 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $988,495 |
| 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, Michael T Assarian Foundation has awarded $56,000 in support to 13 organizations.
| Grant Recipient | Amount |
|---|---|
MUSCULAR DYSTROPHY ASSOCIATION PURPOSE: SUMMER CAMP PROGRAMS | $2,800 |
ART ROAD PURPOSE: GENERAL SUPPORT | $1,120 |
LEGACY CHM PURPOSE: CLOSED HEAD INJURY & | $8,400 |
DETROIT INSTITUTE OF ART PURPOSE: GENERAL SUPPORT | $2,800 |
VISTA MARIA PURPOSE: GENERAL SUPPORT | $2,800 |
THE DETROIT INSTITUTE FOR PURPOSE: GENERAL SUPPORT | $4,480 |