Gheens Foundation Inc
- Assets
- $156.8m
- Revenue
- $13.8m
- Investments
- $141.1m
- Employees
- 0
- Location
- Louisville, KY
- Founding
- 08/1959
- Data as of
- 10/2022
- EIN
- 61-6031406
Organization Overview
Gheens Foundation Inc is located in Louisville, KY. The organization was established in 1959. 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. Gheens 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 10/2022, Gheens Foundation Inc generated $13.8m in total revenue. The organization has seen a slow decline revenue. Over the past 4 years, revenues have fallen by an average of (2.2%) each year. All expenses for the organization totaled $10.4m during the year ending 10/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Gheens Foundation Inc has awarded 632 individual grants totaling $29,610,282. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Barry G Allen President/treasurer | 40 | $257,000 | |
Michael B Mountjoy Trustee/chair/ceo | 9 | $90,250 | |
Phoebe A Wood Trustee/inv Committee Ch | 2 | $31,167 | |
Lori H Flanery Trustee/audit Committee Chair | 2 | $31,167 | |
John R Crockett III Trustee/secretary/comp Comm Chair | 2 | $27,167 | |
Carolyn Tandy Trustee | 1.5 | $23,167 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $2,704 |
| Dividends & Interest | $2,721,791 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $7,349,577 |
| Capital Gain Net Income | $7,349,577 |
| Net ST Capital Gain | $0 |
| Income Modifications | $150,000 |
| Profit on Inventory Sales | $0 |
| Other Income | $3,754,104 |
| Total Revenue | $13,828,176 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $485,918 |
| Other employee salaries and wages | $140,837 |
| Pension plans, employee benefits | $71,312 |
| Interest | $0 |
| Taxes | $183,000 |
| Depreciation | $0 |
| Occupancy | $44,542 |
| Travel, conferences, and meetings | $38,281 |
| Printing and publications | $0 |
| Other expenses | $401,018 |
| Total operating and administrative expenses | $1,420,303 |
| Contributions, gifts, grants paid | $8,959,089 |
| Total expenses and disbursements | $10,379,392 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $15,590,596 |
| 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 | $36,142 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $141,096,222 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $105,947 |
| Total assets | $156,828,907 |
| Accounts payable and accrued expenses | $831 |
| Grants payable | $2,610,000 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $98,585 |
| Total liabilities | $2,709,416 |
Grants Awarded
Over the last fiscal year, Gheens Foundation Inc has awarded $7,848,832 in support to 179 organizations.
| Grant Recipient | Amount |
|---|---|
Louisville, KY PURPOSE: CHEF SPACE | $500,000 |
Louisville, KY PURPOSE: THE GHEENS INSTITUTE: SUPPORTING STUDENT SUCCESS IN STEM-H | $300,000 |
Louisville, KY PURPOSE: HOMEOWNERSHIP PRESERVATION - REPAIR AFFAIR | $300,000 |
Louisville, KY PURPOSE: GENERAL OPERATIONS | $250,000 |
Louisville, KY PURPOSE: EDUCATION - GENERAL OPERATIONS | $200,000 |
Louisville, KY PURPOSE: SPORTS AND LEARNING COMPLEX | $200,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Claws Foundation Reston, VA | $37,055,234 | $1,734,426 |
Abbvie Foundation North Chicago, IL | $72,211,109 | $4,010,058 |
Jack Kent Cooke Foundation Lansdowne, VA | $883,502,508 | $42,942,790 |
Hall Family Foundation Kansas City, MO | $1,171,646,854 | $87,869,006 |
Caterpillar Foundation Peoria, IL | $93,606,659 | $54,411,827 |
Circle Of Service Foundation Chicago, IL | $697,372,085 | $55,153,209 |
Allstate Foundation Northbrook, IL | $112,475,932 | $31,277,614 |
William R Kenan Jr Charitable Trust Chicago, IL | $564,490,046 | $137,606,226 |
Nationwide Foundation Columbus, OH | $86,187,581 | $42,470,606 |
Polk Bros Foundation Inc Chicago, IL | $329,136,356 | $57,050,478 |
Pritzker Foundation Chicago, IL | $0 | $47,756,040 |
Farmer Family Foundation Cincinnati, OH | $165,004,074 | $63,392,827 |