Oconomowoc Area Foundation Inc
- Assets
- $14.4m
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Milwaukee, WI
- Founding
- 09/2008
- Data as of
- 12/2021
- EIN
- 75-3266194
Organization Overview
Oconomowoc Area Foundation Inc is located in Milwaukee, WI. The organization was established in 2008. According to its NTEE Classification (T31) the organization is classified as: Community 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. Oconomowoc Area 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 12/2021, Oconomowoc Area Foundation Inc generated $2.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.1% each year . All expenses for the organization totaled $1.2m during the year ending 12/2021. While expenses have increased by 6.6% 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 2020, Oconomowoc Area Foundation Inc has awarded 75 individual grants totaling $1,687,486. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE OOCONOMOWOC AREA FOUNDATION, INC. WAS FORMED TO OPERATE AS A SUPPORTING ORGANIZATION DESCRIBED IN SECTIONS 501(C)(3) AND 509(A)(3) OF THE INTERNAL REVENUE CODE TO SUPPORT GREATER MILWAUKEE FOUNDATION, INC. THE GREATER MILWAUKEE FOUNDATION IS A PUBLIC CHARITY DESCRIBED IN SECTIONS 509(A)(1) OF THE INTERNAL REVENUE CODE.AS SET FORTH IN THE OCONOMOWOC AREA FOUNDATION'S ARTICLES OF INCORPORATION, "THE CORPORATION IS ORGANIZED AND SHALL AT ALL TIMES HEREAFTER BE OPERATED, EXCLUSIVELY FOR RELIGIOUS, CHARITABLE, SCIENTIFIC LITERARY AND EDUCATIONAL PURPOSES WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF AND/OR TO CARRY OUT THE PURPOSES OF THE GREATER MILWAUKEE FOUNDATION BY FACILITATING GREATER MILWAUKEE FOUNDATION'S PROGRAMS WITHIN THE OCONOMOWOC AREA. SUCH PURPOSES MAY INCLUDE, BUT ARE NOT LIMITED TO, SOLICITING AND RECEIVING CONTRIBUTIONS AND BEQUESTS OF AN ENDOWMENT OR CAPITAL NATURE TO CARRY OUT GREATER MILWAUKEE FOUNDATION'S PROGRAMS BY SUPPORTING CHARITABLE ORGANIZATIONS AND PROGRAMS WITHIN THE OCONOMOWOC AREA. THE CORPORATION MAY ACCOMPLISH ITS PURPOSES DIRECTLY OR BY MAKING GRANTS OR OTHER PAYMENTS FOR CHARITABLE PURPOSES TO THIRD PARTIES."
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Susan Kay Secretary | OfficerTrustee | 1 | $0 |
Ken Robertson Assistant Treasurer | Officer | 0 | $0 |
Ellen Gilligan Assistant Secretary | Officer | 0 | $0 |
Louis Kowieske Director | Trustee | 1 | $0 |
Bob Johnson Director | Trustee | 1 | $0 |
Lou Morgan Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $643,741 |
| Noncash contributions included in lines 1a–1f | $103,792 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $643,741 |
| Total Program Service Revenue | $0 |
| Investment income | $184,925 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,392,623 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,221,289 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $923,478 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $31,438 |
| Fees for services: Other | $0 |
| Advertising and promotion | $6,027 |
| Office expenses | $1,162 |
| Information technology | $2,619 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $33,863 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,157,961 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $406,595 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $174,817 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $150 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $13,861,451 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $14,443,013 |
| Accounts payable and accrued expenses | $7,108 |
| Grants payable | $107,500 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $114,608 |
| Net assets without donor restrictions | $14,153,588 |
| Net assets with donor restrictions | $174,817 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $14,443,013 |
Grants Awarded
Over the last fiscal year, Oconomowoc Area Foundation Inc has awarded $733,112 in support to 30 organizations.
| Grant Recipient | Amount |
|---|---|
Oconomowoc, WI PURPOSE: 2022-2025 SCHOLARSHIPS | $120,000 |
Oconomowoc, WI PURPOSE: ROCKWELL PARK DEVELOPMENT | $105,000 |
Oconomowoc, WI PURPOSE: THE BUILDING FUND | $75,000 |
Oconomowoc, WI PURPOSE: SUSTAINING SUPPORT | $50,510 |
CITY OF OCONOMOWOC PURPOSE: THE SKATEPARK PROJECT | $44,500 |
Louisville, KY PURPOSE: SUSTAINING SUPPORT | $41,280 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Oconomowoc Area Foundation Inc has recieved totaling $31,000.
| Awarding Organization | Amount |
|---|---|
United Way Of Greater Milwaukee & Waukesha County Inc Milwaukee, WI PURPOSE: DONOR DESIGNATIONS | $25,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $6,000 |
Endowment Analysis
| Beg. Balance | $12,956,415 |
| Earnings | $1,892,220 |
| Admin Expense | $158,929 |
| Net Contributions | $606,217 |
| Grants | $987,647 |
| Ending Balance | $14,308,276 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Communitygiving St Cloud, MN | $193,103,222 | $46,523,540 |
Quad Cities Community Foundation Bettendorf, IA | $165,771,747 | $15,098,956 |
Muskegon County Community Foundation Muskegon, MI | $247,862,579 | $28,555,582 |
Greater Cedar Rapids Community Foundation Cedar Rapids, IA | $223,368,352 | $26,493,454 |
Community Foundation Of Greater Flint Flint, MI | $212,857,243 | $17,865,297 |
Ann Arbor Area Community Foundation Ann Arbor, MI | $219,428,649 | $31,760,954 |
3m Open Fund Blaine, MN | $2,792,523 | $13,492,516 |
Fremont Area Community Foundation Fremont, MI | $291,559,908 | $22,142,594 |
Dupage Community Foundation Downers Grove, IL | $125,703,251 | $14,295,087 |
Grand Haven Area Community Foundation Inc Grand Haven, MI | $189,481,921 | $23,464,810 |
Oshkosh Area Community Foundation Corporation Oshkosh, WI | $140,509,815 | $17,534,681 |
Community Foundation Of Greater Dubuque Dubuque, IA | $145,486,240 | $37,640,315 |