The Mary Alice Fortin Foundation
- Assets
- $167.4m
- Revenue
- $8.2m
- Investments
- $156.7m
- Employees
- 0
- Location
- Palm Beach, FL
- Founding
- 06/1986
- Data as of
- 12/2020
- EIN
- 59-2469696
Organization Overview
The Mary Alice Fortin Foundation is located in Palm Beach, FL. The organization was established in 1986. 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. Mary Alice Fortin 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 12/2020, Mary Alice Fortin Foundation generated $8.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (8.0%) each year. All expenses for the organization totaled $15.5m during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2020
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION DOES NOT PERFORM CHARITABLE ACTIVITIES OTHER THAN DIRECT CONTRIBUTIONS TO QUALIFIED CHARITABLE ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Danielle Hickox Moore Pres/treas | 0 | $588,306 | |
Lesly S Smith Director | 0 | $493,667 | |
Susan Stockard Channing Director | 0 | $384,296 | |
Larry Alexander Director | 0 | $129,550 | |
Nick R Cladis Director | 0 | $30,000 | |
Walter L Ross III Director | 0 | $30,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bank Of America | 12/30/21 | $390,528 |
First Republic | 12/30/21 | $57,751 |
Jp Morgan Chase Bank | 12/30/21 | $1,296,813 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $364 |
| Dividends & Interest | $3,543,456 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $4,714,666 |
| Capital Gain Net Income | $4,714,666 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | -$49,123 |
| Total Revenue | $8,209,363 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $1,619,114 |
| Other employee salaries and wages | $54,600 |
| Pension plans, employee benefits | $230,730 |
| Interest | $0 |
| Taxes | $181,588 |
| Depreciation | $55,637 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $45,511 |
| Total operating and administrative expenses | $4,196,316 |
| Contributions, gifts, grants paid | $11,323,500 |
| Total expenses and disbursements | $15,519,816 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $7,316,552 |
| 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 | $40,215,154 |
| Net Land, buildings, and equipment | $3,248,645 |
| Other assets | $143,437 |
| Total assets | $167,401,142 |
| 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 | $240,873 |
| Total liabilities | $240,873 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Leslie L Alexander Foundation Delray Beach, FL | $372,501,228 | $8,282,313 |
Publix Super Markets Charities Inc Lakeland, FL | $259,322,738 | $58,315,085 |
O Wayne Rollins Foundation Atlanta, GA | $468,654,801 | $21,609,282 |
Goizueta Foundation Inc Atlanta, GA | $444,757,286 | $34,966,270 |
The Marie-Josee And Henry R Kravis Foundation West Palm Beach, FL | $65,193,748 | $101,287,799 |
Peter@degeorge Family Foundation Inc Palm Beach Gardens, FL | $1,828,456 | $678,712 |
The Batchelor Foundation Inc Miami Beach, FL | $358,630,434 | $9,326,509 |
Lettie Pate Evans Foundation Inc Atlanta, GA | $69,308,402 | $17,897,458 |
Cornelia T Bailey Charitable Trust West Palm Beach, FL | $355,586,591 | $19,852,168 |
James M Cox Foundation Of Ga Inc Atlanta, GA | $0 | $81,966,247 |
Georgia Power Foundation Inc In Receivership Atlanta, GA | $222,309,509 | $29,809,906 |
Bobbie Bailey Foundation Inc Tucker, GA | $24,485,053 | $1,564,197 |