Greater Milwaukee Foundation Inc
- Assets
- $1.1b
- Revenue
- $151.8m
- Investments
- $443.2m
- Employees
- 67
- Location
- Milwaukee, WI
- Founding
- 10/1942
- Data as of
- 12/2021
- EIN
- 39-6036407
Organization Overview
Greater Milwaukee Foundation Inc is located in Milwaukee, WI. The organization was established in 1942. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2021, Greater Milwaukee Foundation Inc employed 67 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Milwaukee 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 12/2021, Greater Milwaukee Foundation Inc generated $151.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.3% each year . All expenses for the organization totaled $72.6m during the year ending 12/2021. While expenses have increased by 5.2% 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 2020, Greater Milwaukee Foundation Inc has awarded 2,164 individual grants totaling $173,978,372. 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.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
INSPIRING PHILANTHROPY, SERVING DONORS, STRENGTHENING COMMUNITIES, NOW AND FOR FUTURE GENERATIONS.
Describe the Organization's Program Activity:
INSPIRING PHILANTHROPY, SERVING DONORS, STRENGHTHENING COMMUNITIES, NOW AND FOR FUTURE GENERATIONS.FOR OVER 100 YEARS. THE GREATER MILWAUKEE FOUNDATION HAS HELPED INDIVIDUALS AND FAMILIES COMMITTED TO PHILANTHROPY LEAVE A LEGACY, AND BUILD A STRONGER AND MORE VIBRANT COMMUNITY- NOW AND FOR FUTURE GENERATIONS. THANKS TO THE GENEROUS, ONGOING INVESTMENTS OUR DONORSMAKE, WE AS A COMMUNITY FOUNDATION ARE ABLE TO STRONGLY INFLUENCE AND IMPACT OUR REGION THROUGH OUR DISCRETIONARY GRANTMAKING.
INSPIRING PHILANTHROPY, SERVING DONORS, STRENGHTHENING COMMUNITIES, NOW AND FOR FUTURE GENERATIONS.FOR OVER 100 YEARS. THE GREATER MILWAUKEE FOUNDATION HAS HELPED INDIVIDUALS AND FAMILIES COMMITTED TO PHILANTHROPY LEAVE A LEGACY, AND BUILD A STRONGER AND MORE VIBRANT COMMUNITY- NOW AND FOR FUTURE GENERATIONS. THANKS TO THE GENEROUS, ONGOING INVESTMENTS OUR DONORSMAKE, WE AS A COMMUNITY FOUNDATION ARE ABLE TO STRONGLY INFLUENCE AND IMPACT OUR REGION THROUGH OUR DISCRETIONARY GRANTMAKING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ellen Gilligan President | Officer | 40 | $305,069 |
Ken Robertson Secretary/treasurer | Officer | 40 | $204,960 |
Danae Davis Executive Director-Mke Suc | 40 | $185,874 | |
Kathryn Dunn VP Of Comm. Invest. | Officer | 40 | $185,172 |
Kristen Mekemson VP Devel/phil Services | 40 | $167,588 | |
Janel Hiens VP Community Impact | 40 | $143,840 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
New Venture Fund Grantmaking | 12/30/21 | $531,302 |
Colonial Consulting Invst Consulting | 12/30/21 | $454,747 |
Teig Waley-smith Project Management | 12/30/21 | $224,571 |
Bdo Fma Llc Software Consulting | 12/30/21 | $178,494 |
New Venture Fund Grantmaking | 12/30/21 | $531,302 |
Colonial Consulting Invst Consulting | 12/30/21 | $454,747 |
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 | $52,263,334 |
| Noncash contributions included in lines 1a–1f | $15,346,001 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $52,263,334 |
| Total Program Service Revenue | $0 |
| Investment income | $20,592,538 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $78,304,852 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $151,763,598 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $59,744,994 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $810,911 |
| Compensation of current officers, directors, key employees. | $552,442 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,572,328 |
| Pension plan accruals and contributions | $327,248 |
| Other employee benefits | $665,546 |
| Payroll taxes | -$439,150 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $87,608 |
| Fees for services: Accounting | $161,036 |
| Fees for services: Lobbying | $55,892 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,283,514 |
| Fees for services: Other | $2,164,300 |
| Advertising and promotion | $86,577 |
| Office expenses | $187,298 |
| Information technology | $350,887 |
| Royalties | $0 |
| Occupancy | $504,608 |
| Travel | $6,616 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $160,611 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $55,640 |
| Insurance | $0 |
| All other expenses | $14,956 |
| Total functional expenses | $72,595,421 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $44,494,700 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,828,965 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $12,286,692 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $889,050 |
| Net Land, buildings, and equipment | $212,190 |
| Investments—publicly traded securities | $604,426,450 |
| Investments—other securities | $443,153,769 |
| Investments—program-related | $1,415,143 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,114,706,959 |
| Accounts payable and accrued expenses | $5,099,818 |
| Grants payable | $19,205,354 |
| 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 | $87,833 |
| Total liabilities | $24,393,005 |
| Net assets without donor restrictions | $1,090,313,954 |
| Net assets with donor restrictions | $0 |
| 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 | $1,114,706,959 |
Grants Awarded
Over the last fiscal year, Greater Milwaukee Foundation Inc has awarded $116,945,458 in support to 1,424 organizations.
| Grant Recipient | Amount |
|---|---|
Wauwatosa, WI PURPOSE: THE PURCHASE OF NEW PROPERTIES AND REQUISITE RENOVATIONS AS WELL OPERATIONAL NEEDS ASSOCIATED WITH ITS REOPENING AND EXPANSION | $5,276,351 |
Wauwatosa, WI PURPOSE: THE PURCHASE OF NEW PROPERTIES AND REQUISITE RENOVATIONS AS WELL OPERATIONAL NEEDS ASSOCIATED WITH ITS REOPENING AND EXPANSION | $5,276,351 |
Milwaukee, WI PURPOSE: A SPECIAL DISTRIBUTION FOR SUSTAINING SUPPORT | $3,943,920 |
Milwaukee, WI PURPOSE: A SPECIAL DISTRIBUTION FOR SUSTAINING SUPPORT | $3,943,920 |
Milwaukee, WI PURPOSE: DEBT ELIMINATION MATCHING GRANT | $1,540,832 |
Milwaukee, WI PURPOSE: DEBT ELIMINATION MATCHING GRANT | $1,540,832 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Greater Milwaukee Foundation Inc has recieved totaling $2,000.
| Awarding Organization | Amount |
|---|---|
Gebhardt Foundation Inc Milwaukee, WI PURPOSE: GENERAL SUPPORT | $2,000 |
Endowment Analysis
| Beg. Balance | $945,393,714 |
| Earnings | $127,331,649 |
| Admin Expense | $7,864,960 |
| Net Contributions | $52,183,314 |
| Other Expense | $2,828,193 |
| Grants | $59,733,519 |
| Ending Balance | $1,054,482,005 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Minneapolis Foundation Minneapolis, MN | $763,755,990 | $141,518,502 |
Mount Sinai Community Foundation Chicago, IL | $11,409,546 | $72,991,931 |
Community Foundation For Southeast Michigan Detroit, MI | $1,124,768,291 | $250,946,101 |
Greater Milwaukee Foundation Inc Milwaukee, WI | $1,114,706,959 | $151,763,598 |
Thrivent Charitable Impact & Investing Appleton, WI | $809,708,853 | $138,812,775 |
Community Fdn Of Greater Des Moines Des Moines, IA | $756,930,676 | $144,988,273 |
Greater Green Bay Community Foundation Inc Green Bay, WI | $158,723,657 | $42,186,646 |
Community Foundation For The Fox Valley Region Inc Appleton, WI | $500,269,949 | $60,999,391 |
Madison Community Foundation Madison, WI | $285,628,719 | $40,248,600 |
Elks National Foundation Inc Chicago, IL | $936,472,552 | $62,047,958 |
Battle Creek Community Foundation Battle Creek, MI | $135,380,333 | $32,635,612 |
Kalamazoo Community Foundation Kalamazoo, MI | $677,092,659 | $78,067,850 |