The Mary Alice Fortin Foundation
- Assets
- $194.7m
- Revenue
- $16.4m
- Investments
- $183.6m
- Employees
- 0
- Location
- Palm Beach, FL
- Founding
- 06/1986
- Data as of
- 12/2022
- 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 12/2022, Mary Alice Fortin Foundation generated $16.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $18.5m during the year ending 12/2022. While expenses have increased by 8.8% 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 2022, Mary Alice Fortin Foundation has awarded 247 individual grants totaling $13,055,200. 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
2022
Describe the Organization's Program Activity:
THE FOUNDATION DOES NOT PERFORM CHARITABLE ACTIVITIES OTHER THAN DIRECT CONTRIBUTIONS TO QUALIFIED CHARITABLE ORGANIZATIONS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed President & Treasurer | 20 | $610,606 | |
Name Not Listed Director | 20 | $513,576 | |
Name Not Listed Director | 20 | $400,025 | |
Name Not Listed Director | 10 | $30,000 | |
Name Not Listed Director | 10 | $132,537 | |
Name Not Listed Secretary | 10 | $30,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bank Of America | 12/30/21 | $390,528 |
Jp Morgan Chase Bank | 12/30/21 | $1,296,813 |
First Republic | 12/30/21 | $57,751 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $3,300,000 |
| Interest on Savings | $3 |
| Dividends & Interest | $4,081,641 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $6,680,776 |
| Capital Gain Net Income | $6,680,776 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $2,340,108 |
| Total Revenue | $16,402,528 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $2,020,744 |
| Other employee salaries and wages | $59,050 |
| Pension plans, employee benefits | $44,491 |
| Interest | $0 |
| Taxes | $813,837 |
| Depreciation | $55,820 |
| Occupancy | $14,509 |
| Travel, conferences, and meetings | $33,662 |
| Printing and publications | $0 |
| Other expenses | $431,725 |
| Total operating and administrative expenses | $5,412,430 |
| Contributions, gifts, grants paid | $13,055,200 |
| Total expenses and disbursements | $18,467,630 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $7,948,494 |
| 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 | $44,273,145 |
| Net Land, buildings, and equipment | $3,144,166 |
| Other assets | $0 |
| Total assets | $194,717,025 |
| 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 |
Grants Awarded
Over the last fiscal year, The Mary Alice Fortin Foundation has awarded $13,055,200 in support to 247 organizations.
| Grant Recipient | Amount |
|---|---|
211 PALM BEACHES TREASURE COAST PURPOSE: GENERAL SUPPORT FOR PROGRAMS | $12,000 |
ACHIEVEMENT CENTERS FOR CHILDREN AND FAMILIES PURPOSE: GENERAL SUPPORT FOR PROGRAMS | $66,500 |
ADAPTIVE DESIGN ASSOCIATION PURPOSE: GENERAL SUPPORT FOR PROGRAMS | $15,000 |
ADOPT-A-FAMILY OF THE PALM BEACHES PURPOSE: GENERAL SUPPORT FOR PROGRAMS | $45,000 |
AMERICAN FRIENDS OF BRITISH ART PURPOSE: GENERAL SUPPORT FOR PROGRAMS | $1,000 |
ADULT RESOURCE ALLIANCE OF YELLOWSTONE COUNTY PURPOSE: GENERAL SUPPORT FOR PROGRAMS | $10,000 |