The Greater Clark Foundation Inc
- Assets
- $43.8m
- Revenue
- $928.3k
- Investments
- $35.4m
- Employees
- 3
- Location
- Winchester, KY
- Founding
- 11/1945
- Data as of
- 06/2021
- EIN
- 61-0475632
Organization Overview
The Greater Clark Foundation Inc is located in Winchester, KY. The organization was established in 1945. According to its NTEE Classification (E22) the organization is classified as: General Hospitals, under the broad grouping of Health Care and related organizations. As of 06/2022, Greater Clark Foundation Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Clark 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 06/2021, Greater Clark Foundation Inc generated $928.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (5.7%) each year. All expenses for the organization totaled $2.0m during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Greater Clark Foundation Inc has awarded 157 individual grants totaling $2,884,211. 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
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION IS CURRENTLY RESTORING THE FORMER HOSPITAL CAMPUS AND LAND INTO PARK AND RECREATIONAL AREAS (PROJECT 1107) FOR THE SOCIO-ECONOMIC, HEALTH AND WELL BEING OF CITIZENS IN ITS MISSION AREA. REMINENT PARCELS OF LAND FROM THE FORMER 501(C)(3) HOSPITAL, WHICH INCLUDED BUILDINGS WERE ABANDONED FOR PARK USE. DIRECT EXPENSE INCLUDES PARK CONCEPTION CONSULTATION, DESIGN AND GROUNDS MAINTENANCE.
TO ACHIEVE ITS EXEMPT PURPOSE AND DEPLOY ITS ASSETS EFFICIENTLY AS IT TRANSITIONS FROM A HOSPITAL DESCRIBED IN 170(B)(1)(A)(III) TO A 509(A)(2) ORGANIZATION, THE VOLUNTEER BOARD OF DIRECTORS ENGAGED IN A VARIETY OF STRATEGIES INCLUDING GRANTS AND OTHER PROGRAMS TO ACCOMPLISH ITS MISSION. THE ORGANIZATION IS ASSISTING, PROMOTING AND EDUCATING FOR A VARIETY OF OTHER PROGRAMS WHICH INCLUDE THE PLACE MAKING, CIVIC ENGAGEMENT,AND CAPACITY BUILDING, AMBITION GRANTS, AND OTHER PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jen Algire President/ceo, Secretary | 40 | $258,500 | |
Rosalinda Gay Dirrector, Chair | 1 | $0 | |
Darren Henry Director, Vice-Chair | 1 | $0 | |
Syndy Deese Director, Treasurer | 1 | $0 | |
Lee Coleman Director | 1 | $0 | |
Eric Hudson Director | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Earlyworks Llc | 6/29/22 | $58,000 |
Russell Investments | 6/29/22 | $189,137 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $2,185 |
| Dividends & Interest | $79,376 |
| Net Rental Income | $18,810 |
| Net Gain on Sale of Assets | $749,442 |
| Capital Gain Net Income | $3,574,969 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $910 |
| Total Revenue | $928,298 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $281,419 |
| Other employee salaries and wages | $140,292 |
| Pension plans, employee benefits | $79,268 |
| Interest | $0 |
| Taxes | $160,917 |
| Depreciation | $266,006 |
| Occupancy | $59,462 |
| Travel, conferences, and meetings | $4,189 |
| Printing and publications | $0 |
| Other expenses | $69,496 |
| Total operating and administrative expenses | $1,413,554 |
| Contributions, gifts, grants paid | $617,320 |
| Total expenses and disbursements | $2,030,874 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $399,367 |
| 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 | $11,045 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $7,916,016 |
| Other assets | $0 |
| Total assets | $43,755,320 |
| Accounts payable and accrued expenses | $197,809 |
| Grants payable | $10,000 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $199,397 |
| Total liabilities | $407,206 |
Grants Awarded
Over the last fiscal year, The Greater Clark Foundation Inc has awarded $554,438 in support to 15 organizations.
| Grant Recipient | Amount |
|---|---|
LEGACY GREENSCAPE PURPOSE: OPERATING GRANTS | $325,000 |
LEGACY GREENSCAPE PURPOSE: ENDOWMENT GRANT | $100,000 |
PROGRESS LEX INC DBA CIVICLEX PURPOSE: EVALUATION & FEASIBILITY OF CIVICLEX ADAPTATIONS | $65,000 |
HABITAT FOR HUMANITY OF MADISON & CLARK COUNTY PURPOSE: LUMBER FOR THE LINCOLN STREET URBAN RENEWAL PROJECT | $10,000 |
WINCHESTER-CLARK COUNTY PARK & RECREATION PURPOSE: COVID-19 SUMMER CAMP | $10,000 |
NSPIRE INC PURPOSE: PARK COMMUNITY CREDIT UNION PHILANTHROPY - TO DETERMINE FEASIBILITY FOR EXPANDING PCCU CHARTER INTO APPALACHIAN KY WITH THE EXPRESS GOAL OF REDUCING RESIDENTS RELIANCE ON PREDATORY FINANCIAL INSTITUTIONS | $10,000 |
Endowment Analysis
| Beg. Balance | $4,871,645 |
| Earnings | $120,218 |
| Admin Expense | $84,096 |
| Other Expense | $131,237 |
| Ending Balance | $4,776,530 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Livingston Hospital And Healthcare Services Inc Salem, KY | $11,764,039 | $22,423,570 |
Barnesville Hospital Association Inc Barnesville, OH | $13,746,955 | $20,495,277 |
Cumberland County Hospital Association Inc Burkesville, KY | $27,206,653 | $23,152,789 |
St Marys Warrick Hospital Inc St Louis, MO | $9,424,300 | $16,745,363 |
Grafton City Hospital Inc Grafton, WV | $12,579,232 | $20,111,333 |
Community Hospital Of Staunton Staunton, IL | $32,595,948 | $20,788,343 |
St Vincent Clay Hospital Inc St Louis, MO | $12,816,129 | $21,118,417 |
Genesis Medical Center Aledo Aledo, IL | $16,196,609 | $17,740,710 |
Macon County General Hospital Inc Lafayette, TN | $17,643,586 | $20,536,652 |
Hshs Good Shepherd Hospital Inc Shelbyville, IL | $31,163,416 | $16,379,613 |
Uofl Health-Shelbyville Inc Louisville, KY | $17,393,919 | $16,689,423 |
Northwestern Memorial Healthcare Dekalb, IL | $61,241,872 | $21,268,372 |