Jerome Foundation Inc
- Assets
- $108.8m
- Revenue
- $6.4m
- Investments
- $108.2m
- Employees
- 0
- Location
- Saint Paul, MN
- Founding
- 07/1964
- Data as of
- 04/2023
- EIN
- 41-6035163
Organization Overview
Jerome Foundation Inc is located in Saint Paul, MN. The organization was established in 1964. 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. Jerome 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 04/2023, Jerome Foundation Inc generated $6.4m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 10.8% each year . All expenses for the organization totaled $8.9m during the year ending 04/2023. While expenses have increased by 6.6% per year over the past 8 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 2016, Jerome Foundation Inc has awarded 2,785 individual grants totaling $78,474,062. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
GENERAL GRANTS PROGRAM AND SERVICE PROGRAM: THE FOUNDATION AWARDS GRANTS TO ORGANIZATIONS IN MINNESOTA AND NEW YORK CITY TO COMMISSION, PRODUCE, PRESENT OR EXHIBIT EMERGING ARTISTS THROUGH THE GENERAL GRANTS PROGRAM. ORGANIZATIONS SERVING ARTISTS IN DANCE, LITERATURE, MEDIA, MULTIDISCIPLINE ARTS, MUSIC, THEATER, AND VISUAL ARTS ARE ALL SUPPORTED. THE FOUNDATION ALSO DONATES TIME AND RELATED EXPENSES OF STAFF TO OTHER NONPROFIT ORGANIZATIONS, INDIVIDUAL ARTISTS, GOVERNMENT AGENCIES AND NONPROFIT TASK FORCES AND COMMITTEES AS DEEMED APPROPRIATE AND AS ALLOWED BY CONFLICT OF INTEREST POLICIES.
NEW YORK CITY FILM, VIDEO, AND DIGITAL PRODUCTION GRANT PROGRAM: ($475,671)NEW YORK CITY FILM, VIDEO, AND DIGITAL PRODUCTION GRANTS ARE AWARDED TO EMERGING FILM, VIDEO AND DIGITAL ARTISTS TO PRODUCE SPECIFIC PROPOSED FILM PROJECTS. THE PROGRAM SUPPORTS NARRATIVE, EXPERIMENTAL, ANIMATED AND DOCUMENTARY FILM GENRES, WITH GRANTS AWARDED TO THE FILM DIRECTOR(S) WHO RETAINS ULTIMATE CREATIVE CONTROL. NEW YORK CITY FILMMAKERS ARE JUDGED ANNUALLY AND GRANTS AWARDED IN SEPARATE GRANTS COMPETITIONS.MINNESOTA FILM, VIDEO, AND DIGITAL PRODUCTION GRANT PROGRAM: ($90,030)MINNESOTA FILM, VIDEO, AND DIGITAL PRODUCTION GRANTS ARE AWARDED TO EMERGING FILM, VIDEO AND DIGITAL ARTISTS TO PRODUCE SPECIFIC PROPOSED FILM PROJECTS. THE PROGRAM SUPPORTS NARRATIVE, EXPERIMENTAL, ANIMATED AND DOCUMENTARY FILM GENRES, WITH GRANTS AWARDED TO THE FILM DIRECTOR(S) WHO RETAINS ULTIMATE CREATIVE CONTROL. MINNESOTA FILMMAKERS ARE JUDGED ANNUALLY AND GRANTS AWARDED IN SEPARATE GRANTS COMPETITIONS.
TRAVEL AND STUDY GRANT PROGRAM : TRAVEL AND STUDY GRANTS ARE AWARDED TO ALLOW EMERGING ARTISTS AND MINNESOTA-BASED ARTS ADMINISTRATORS TO TRAVEL FOR PURPOSES OF PROFESSIONAL DEVELOPMENT, RESEARCH AND ARTISTIC ENRICHMENT. SPECIFIC DISCIPLINES ARE SUPPORTED IN ALTERNATING YEARS: IN 2016, ARTISTS IN LITERATURE, DANCE AND FILM/VIDEO/DIGITAL PRODUCTION WERE SUPPORTED.
COMPOSER/SOUND ARTIST FELLOWSHIP PROGRAM:THE COMPOSER/SOUND ARTIST FELLOWSHIP PROGRAM SUPPORTS CREATIVE INVESTIGATION AND PROFESSIONAL DEVELOPMENT FOR MUSIC COMPOSERS AND SOUND ARTISTS. INTRODUCED AS A PILOT PROGRAM IN 2016, THIS PROGRAM, LIKE THE TRAVEL AND STUDY GRANTS, PRIORITIZES RESEARCH AND INVESTIGATION BUT IS NOT NECESSARILY LINKED TO PRODUCTION OF A SPECIFIC WORK.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eleanor Savage President & CEO | 45 | $307,728 | |
Kate Barr Chair | 2 | $0 | |
Daniel Alexander Jones Vice Chair | 1.5 | $0 | |
Richard Scott Secretary & Treasurer | 1 | $0 | |
Helga Davis Director | 1 | $0 | |
Lori Pourier Director | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Korn Ferry | 4/29/23 | $117,630 |
Clifton Larson Allen | 4/29/23 | $70,762 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $25 |
| Interest on Savings | $0 |
| Dividends & Interest | $2,440,884 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $3,915,983 |
| Capital Gain Net Income | $3,915,983 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $28,730 |
| Total Revenue | $6,385,622 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $362,066 |
| Other employee salaries and wages | $312,126 |
| Pension plans, employee benefits | $78,248 |
| Interest | $0 |
| Taxes | $133,034 |
| Depreciation | $41,453 |
| Occupancy | $85,949 |
| Travel, conferences, and meetings | $25,710 |
| Printing and publications | $2,560 |
| Other expenses | $108,790 |
| Total operating and administrative expenses | $1,700,495 |
| Contributions, gifts, grants paid | $7,162,936 |
| Total expenses and disbursements | $8,863,431 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $15,558 |
| Net Accounts receivable | $75 |
| 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 | $52,639 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $108,207,742 |
| Net Land, buildings, and equipment | $180,917 |
| Other assets | $309,980 |
| Total assets | $108,766,911 |
| Accounts payable and accrued expenses | $113,015 |
| Grants payable | $4,926,636 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $543,146 |
| Total liabilities | $5,582,797 |
Grants Awarded
Over the last fiscal year, Jerome Foundation Inc has awarded $12,878,986 in support to 344 organizations.
| Grant Recipient | Amount |
|---|---|
ANANYA DANCE THEATRE PURPOSE: SUPPORT FOR DANCE ORGANIZATION WORKING WITH EARLY CAREER ARTISTS | $32,500 |
ARTS FOR ART PURPOSE: SUPPORT FOR MUSIC ORGANIZATION WORKING WITH EARLY CAREER ARTISTS | $72,000 |
ANDERSON CENTER FOR INTERDISCIPLINARY STUDIES PURPOSE: SUPPORT FOR ARTS ORGANIZATION WORKING WITH EARLY CAREER ARTISTS | $24,000 |
ASIAN AMERICAN WRITERS' WORKSHOP PURPOSE: SUPPORT FOR LITERATURE ORGANIZATION WORKING WITH EARLY CAREER ARTISTS | $45,000 |
ARTSPACE PROJECTS INC PURPOSE: FISCAL SPONSOR FOR THE COWLES CENTER, SUPPORTING ITS GENERATING ROOM PROGRAM AND SUNSETTING | $50,000 |
BRONX ACADEMY OF ART AND DANCE (BAAD) PURPOSE: SUPPORT FOR PEPATIAN / BAAD!S DANCING FUTURES RESIDENCY PROGRAM | $39,000 |