Chipstone Foundation
- Assets
- $73.0m
- Revenue
- $5.1m
- Investments
- $68.9m
- Employees
- 0
- Location
- Milwaukee, WI
- Founding
- 01/1967
- Data as of
- 12/2022
- EIN
- 39-6096593
Organization Overview
Chipstone Foundation is located in Milwaukee, WI. The organization was established in 1967. According to its NTEE Classification (T23) the organization is classified as: Private Operating 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. Chipstone 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, Chipstone Foundation generated $5.1m in total revenue. The organization has seen a slow decline revenue. Over the past 4 years, revenues have fallen by an average of (2.3%) each year. All expenses for the organization totaled $5.6m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
MAINTENANCE OF COLLECTION & FOX POINT FACILITY, CURATORIAL & EXHIBITION FUNCTIONS FOR AMERICAN COLLECTIONS GALLERIES, MILWAUKEE ART MUSEUM; PUBLICATION OF CERAMICS IN AMERICA
JOURNAL AND AMERICAN FURNITURE JOURNAL. THE MOST RECENT PUBLISHING IS MATERIAL INTELLIGENCE IN 2022; ACQUISITION OF WORKS FOR THE COLLECTION, WEB SITE OUTREACH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
W David Knox II Chair, Pres(ceo), Treas, Dir | 55 | $594,411 | |
Charles F Hummel Director | 3 | $10,500 | |
John S Mcgregor Director | 3 | $12,500 | |
Jonathan Prown Executive Dir & Chief Curator | 55 | $286,388 | |
Jacquelyn A Sarich Off Adm, VP Admin & Asst Sec | 40 | $136,046 | |
Edward S Cooke Jr Director | 2 | $7,500 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Robert R Hunter | 12/30/22 | $100,383 |
Luke Beckerdite Llc | 12/30/22 | $73,333 |
Wynne Patterson Inc | 12/30/22 | $126,667 |
Luke Beckerdite Llc | 12/30/22 | $0 |
Tighe Contracting Inc | 12/30/22 | $341,755 |
Wynne Patterson Inc | 12/30/22 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $1,883,968 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $3,560,497 |
| Capital Gain Net Income | $3,515,440 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | -$334,325 |
| Total Revenue | $5,110,140 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $1,147,345 |
| Other employee salaries and wages | $242,707 |
| Pension plans, employee benefits | $346,195 |
| Interest | $48,514 |
| Taxes | $587,240 |
| Depreciation | $28,171 |
| Occupancy | $140,736 |
| Travel, conferences, and meetings | $59,990 |
| Printing and publications | $5,115 |
| Other expenses | $1,868,470 |
| Total operating and administrative expenses | $5,080,222 |
| Contributions, gifts, grants paid | $503,752 |
| Total expenses and disbursements | $5,583,974 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,912,125 |
| 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 | $21,124,486 |
| Net Land, buildings, and equipment | $68,411 |
| Other assets | $201,744 |
| Total assets | $73,041,949 |
| 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 |