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 12/2023, 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 represents relatively stable growth, over the past 3 years the organization has increased revenue by an average of 7.3% each year. All expenses for the organization totaled $72.6m during the year ending 12/2021. While expenses have increased by 2.7% per year over the past 3 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 2,884 individual grants totaling $247,973,464. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dave Drury Board Member | Trustee | 0 | $0 |
Mary Ellen Stanek Board Member | Trustee | 0 | $0 |
Paul Jones Board Chair | OfficerTrustee | 0 | $0 |
Gregory Oberland Board Member | Trustee | 0 | $0 |
Wendy Bosworth Board Member (retired 6/22) | Trustee | 0 | $0 |
Cecelia Gore Board Member | Trustee | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
New Venture Fund Grantmaking | 12/30/22 | $652,832 |
Crewcial Partners Invst Consulting | 12/30/22 | $432,794 |
Athena Communications Marketing/branding | 12/30/22 | $220,125 |
Campbell & Co Fundraising | 12/30/22 | $139,500 |
Catchafire Inc Grantee Capacity Bdg | 12/30/22 | $120,000 |
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 $73,995,092 in support to 720 organizations.
| Grant Recipient | Amount |
|---|---|
CITY OF SOUTH MILWAUKEE PURPOSE: MASTER PLANNING | $10,000,000 |
DR JAMES CAMERON LEGACY FOUNDATION PURPOSE: THE PURPOSE OF ESTABLISHING AN ENDOWED FUND | $5,027,450 |
HISTORIC HAYMARKET MILWAUKEE PURPOSE: THE NEW BUILDING CAMPAIGN | $2,700,000 |
METROPOLITAN MILWAUKEE ASSOCIATION OF COMMERCE (M PURPOSE: THE APPRENTICESHIP PROGRAM | $1,945,000 |
SOUTH MILWAUKEE INDUSTRIAL MUSEUM PURPOSE: SUSTAINING SUPPORT | $1,763,000 |
SEAS FOUNDATION LTD PURPOSE: FUND LIQUIDATION | $1,702,635 |