The Greater Clark Foundation Inc
- Assets
- $40.8m
- Revenue
- $12.3m
- Investments
- $32.9m
- Employees
- 3
- Location
- Winchester, KY
- Founding
- 11/1945
- Data as of
- 06/2023
- 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 06/2023, 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 06/2023, Greater Clark Foundation Inc generated $12.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 38.6% each year . All expenses for the organization totaled $2.1m during the year ending 06/2023. While expenses have increased by 1.2% per year over the past 7 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 2015, Greater Clark Foundation Inc has awarded 143 individual grants totaling $3,003,453. 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
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 |
|---|---|---|---|
Darren Henry Director, Chair | 1 | $0 | |
Syndy Deese Director, Vice-Chair | 1 | $0 | |
Eric Hudson Director, Treasurer | 1 | $0 | |
Jen Algire Secretary, President & CEO | 40 | $296,625 | |
Lee Coleman Director (resigned 03/23) | 1 | $0 | |
Leola Hampton Director | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Russell Investments | 6/29/22 | $189,137 |
Earlyworks Llc | 6/29/22 | $58,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $2,999,078 |
| Interest on Savings | $0 |
| Dividends & Interest | $407,798 |
| Net Rental Income | -$223,473 |
| Net Gain on Sale of Assets | $8,750,948 |
| Capital Gain Net Income | $7,146,484 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $725 |
| Total Revenue | $12,259,630 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $296,625 |
| Other employee salaries and wages | $116,955 |
| Pension plans, employee benefits | $169,841 |
| Interest | $0 |
| Taxes | $137,433 |
| Depreciation | $327,228 |
| Occupancy | $91,030 |
| Travel, conferences, and meetings | $61,367 |
| Printing and publications | $0 |
| Other expenses | $79,745 |
| Total operating and administrative expenses | $1,645,807 |
| Contributions, gifts, grants paid | $486,519 |
| Total expenses and disbursements | $2,132,326 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $469,354 |
| 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 | $6,276 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $7,275,004 |
| Other assets | $186,845 |
| Total assets | $40,833,921 |
| Accounts payable and accrued expenses | $200,545 |
| 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 | $90,094 |
| Total liabilities | $290,639 |
Grants Awarded
Over the last fiscal year, The Greater Clark Foundation Inc has awarded $512,483 in support to 18 organizations.
| Grant Recipient | Amount |
|---|---|
APPALSHOP PURPOSE: SUPPORT RURAL EXCHANGE | $5,000 |
APPALACHIA FUNDERS NETWORK PURPOSE: FUNDING PARTNER CONTRIBUTION | $500 |
BLUE GRASS COMMUNITY FOUNDATION PURPOSE: WINCHESTER MINORITY LEADERSHIP INITIATIVE | $25,000 |
GRANTMAKERS IN HEALTH PURPOSE: FUNDING PARTNER CONTRIBUTION | $3,250 |
BLUE GRASS COMMUNITY FOUNDATION PURPOSE: WINCHESTER MINORITY LEADERSHIP INITIATIVE | $25,000 |
KENTUCKY NONPROFIT NETWORK INC PURPOSE: FUNDING PARTNER CONTRIBUTION | $2,500 |