The Kalo Foundation Of Park Ridge
- Assets
- $1.7m
- Revenue
- $69.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Park Ridge, IL
- Founding
- 03/2007
- Data as of
- 06/2022
- EIN
- 45-0547664
Organization Overview
The Kalo Foundation Of Park Ridge is located in Park Ridge, IL. The organization was established in 2007. According to its NTEE Classification (A80) the organization is classified as: Historical Organizations, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kalo Foundation Of Park Ridge 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 06/2022, Kalo Foundation Of Park Ridge generated $69.9k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.4% each year. All expenses for the organization totaled $91.0k during the year ending 06/2022. 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 Mission:
Part 3 - Line 1
DEDICATED TO PRESERVING THE RICH ARTISTIC LEGACY IN THE CITY OF PARK RIDGE, ILLINOIS
Describe the Organization's Program Activity:
KALO FOUNDATION CONTINUES TO RESTORE THE IANNELLI STUDIO & HERITAGE CENTER, ACQUIRE ARTWORK FOR DISPLAY, SPONSOR EDUCATIONAL SEMINARS, EXHIBITS, TOURS, PUBLICATIONS AND SPECIAL EVENTS TO INCREASE AWARENESS AND APPRECIATION OF THE ARTS AND CRAFTS.
KALO FOUNDATION OFFERED THREE 500 PEGLER SCHOLARSHIPS FOR STUDENT ART WINNERS. ARTISTS SUBMIT ARTWORK FOR THE SCHOLARSHIP WHICH IS REVIEWED AND NOTED UPON BY THE BOARD AND THE LOCAL HIGH SCHOOLS TO DETERMINE THE RECIPIENTS OF THE SCHOLARSHIPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Maria Hrycelak President | Officer | 10 | $0 |
Anne Lunde Recording Se | Officer | 10 | $0 |
Don Mceachern Treasurer | Officer | 10 | $0 |
Vicky Bellisario Vice Preside | Officer | 10 | $0 |
Janelle Marcuccilli Correspondin | Officer | 10 | $0 |
Leigh Sasser Vice Preside | Officer | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $32,967 |
| Investment income | $36,733 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$432 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $669 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $69,937 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $1,000 |
| 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 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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,227 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,902 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $339 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $21,434 |
| Travel | $0 |
| 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 | $48,489 |
| Insurance | $4,561 |
| All other expenses | $0 |
| Total functional expenses | $91,022 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $35,716 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $1,116,778 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,673,162 |
| Accounts payable and accrued expenses | $37 |
| 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 | $37 |
| Net assets without donor restrictions | $1,673,125 |
| 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 |
| Total liabilities and net assets/fund balances | $1,673,125 |