Herbert V Prochnow Educational Foundation Inc
- Assets
- $9.4m
- Revenue
- $784.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Madison, WI
- Founding
- 06/1984
- Data as of
- 10/2021
- EIN
- 39-1466758
Organization Overview
Herbert V Prochnow Educational Foundation Inc is located in Madison, WI. The organization was established in 1984. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Herbert V Prochnow Educational Foundation Inc 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 10/2021, Herbert V Prochnow Educational Foundation Inc generated $784.3k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.5% each year. All expenses for the organization totaled $264.7k during the year ending 10/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO INITIATE, FUND, MARKET AND IMPLEMENT PROGRAMS AND ACTIVITIES WHICH SUPPORT THE MISSION OF THE GRADUATE SCHOOL OF BANKING, INC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE HERBERT V. PROCHNOW EDUCATIONAL FOUNDATION, INC. SUPPORTS RESEARCH IN BANKING AND EDUCATION AND SPONSORS A NUMBER OF EDUCATIONAL PROGRAMS INTENDED TO BENEFIT THE BANKING INDUSTRY. IN 2021, RECIPIENTS USED 96 SCHOLARSHIPS TO THE BANKING SCHOOL AND 12 TO THE HUMAN RESOURCES SCHOOL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kirby A Davidson President & CEO | OfficerTrustee | 4 | $24,354 |
Max Cook Treasurer Of The Board | OfficerTrustee | 1 | $0 |
Doug Wareham Chair Of The Board | OfficerTrustee | 1 | $0 |
Amber Van Til Immediate Past Chair Of The Board | OfficerTrustee | 1 | $0 |
Lorrie Trogden Vice Chair Of The Board | OfficerTrustee | 1 | $0 |
Ballard W Cassady Jr Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $261,088 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $523,246 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $784,334 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $154,865 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $40,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,782 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $53,393 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $6,642 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $264,682 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $25,773 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,963 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $478 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $9,379,438 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $9,416,652 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $9,395,652 |
| Net assets with donor restrictions | $21,000 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $9,416,652 |
Grants Awarded
Over the last fiscal year, Herbert V Prochnow Educational Foundation Inc has awarded $800,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Madison, WI PURPOSE: SUPPORT THE OPERATIONS OF GRADUATE SCHOOL OF BANKING | $375,000 |
Madison, WI PURPOSE: SUPPORT THE OPERATIONS OF GRADUATE SCHOOL OF BANKING | $375,000 |
Madison, WI PURPOSE: DONATION MADE IN HONOR OF JAMES JOHANNES AND SUPPORT UW FOUNDATION. | $25,000 |
Madison, WI PURPOSE: DONATION MADE IN HONOR OF JAMES JOHANNES AND SUPPORT UW FOUNDATION. | $25,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Herbert V Prochnow Educational Foundation Inc has recieved totaling $400,000.
| Awarding Organization | Amount |
|---|---|
Graduate School Of Banking Inc Madison, WI PURPOSE: CONTRIBUTION TO SUPPORTING ORGANIZATION. | $400,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Western Michigan University Foundation Kalamazoo, MI | $431,026,780 | $43,479,998 |
Ics Support Organization Inc Franklin, WI | $552,959,577 | $28,861,342 |
Michigan State University Foundation East Lansing, MI | $535,425,307 | $55,850,938 |
University Of Northern Iowa Foundation Cedar Falls, IA | $173,378,893 | $31,725,389 |
Illinois State University Foundation Normal, IL | $269,993,016 | $34,747,700 |
National Assistance Foundation Des Moines, IA | $16,519,301 | $16,875,706 |
Southern Illinois University Foundation Carbondale, IL | $260,208,288 | $31,565,742 |
University Research Park Inc Madison, WI | $162,117,796 | $19,527,506 |
Eastern Michigan University Foundation Ypsilanti, MI | $82,145,619 | $14,420,618 |
Michigan Tech Fund Houghton, MI | $217,061,508 | $42,674,434 |
Northern Illinois University Foundation Dekalb, IL | $169,106,712 | $31,131,654 |
Grand Rapids Community College Foundation Grand Rapids, MI | $37,079,013 | $9,829,978 |