Charles And Linda Corbalis Family Foundation
- Assets
- $5.3m
- Revenue
- $841.2k
- Investments
- $5.2m
- Employees
- 0
- Location
- Star, ID
- Founding
- 04/1998
- Data as of
- 12/2021
- EIN
- 77-0456278
Organization Overview
Charles And Linda Corbalis Family Foundation is located in Star, ID. The organization was established in 1998. 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. Charles And Linda Corbalis Family 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 12/2021, Charles And Linda Corbalis Family Foundation generated $841.2k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 19.3% each year . All expenses for the organization totaled $458.9k during the year ending 12/2021. While expenses have increased by 1.3% 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 2014, Charles And Linda Corbalis Family Foundation has awarded 144 individual grants totaling $1,610,525. 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 FOUNDATION FORMED IMMACULATE HEART MEDIA,LLC. THE FOUNDATION IS THE SOLE MEMBER. THE PURPOSE OF THE LLC IS TO FURTHER DEVELOP, IMPROVE, MODIFY, ENHANCE, REFINE, REPRODUCE, PREPARE DERIVATIVE WORKS FROM, AND DISTRIBUTE THE ENCOUNTER WITH CHRIST - DAILY MEDITATION AND PRAYER AIDE APPLICATION SOFTWARE, TECHNOLOGY, AND CONTENT, AND SUCH OTHER ACTIVITIES THAT CARRY OUT OR FURTHER THE CHARITABLE PURPOSES OF THE FOUNDATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles M Corbalis Chairman | 8 | $43,000 | |
Linda J Corbalis Secretary | 8 | $43,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $16 |
| Dividends & Interest | $161,549 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $679,602 |
| Capital Gain Net Income | $679,602 |
| Net ST Capital Gain | $59,996 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $841,167 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $86,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $11,520 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $909 |
| Printing and publications | $0 |
| Other expenses | $2,444 |
| Total operating and administrative expenses | $189,906 |
| Contributions, gifts, grants paid | $269,000 |
| Total expenses and disbursements | $458,906 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $126,870 |
| 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 | $125,892 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $5,295,896 |
| 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, Charles And Linda Corbalis Family Foundation has awarded $269,000 in support to 23 organizations.
| Grant Recipient | Amount |
|---|---|
THE CULTURE PROJECT INTL PURPOSE: TO SUPPORT THE PROMOTION OF CATHOLIC EDUCATION | $50,000 |
SAINT PATRICK'S SEMINARY UNIVERSITY PURPOSE: TO SUPPORT PROGRAMS OF THE CATHOLIC FAITH | $43,800 |
ST NICHOLAS ST WILLIAM CATHOLIC PURPOSE: ONE YEAR WORD ON FIRE - UPGRADE OF ALCOVES | $25,000 |
AVILA FOUNDATION PURPOSE: TO SUPPORT PROGRAMS OF THE CATHOLIC FAITH | $15,000 |
THE INSTITUTE ON RELIGION PUBLIC LI PURPOSE: TO HELP RELIGIOUS BELIEVERS MEET THE NEW CHALLENGES THEY FACE IN PUBLIC LIFE | $10,000 |
Campbell, CA PURPOSE: TO SUPPORT EDUCATIONAL ACTIVITIES | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Amazonsmile Foundation Seattle, WA | $32,322,159 | $94,115,479 |
Dr Miriam And Sheldon G Adelson Las Vegas, NV | $37,664,470 | $5,516,038 |
Moore Family Foundation Incline Village, NV | $173,909 | $5,659,701 |
Gates Philanthropy Partners Seattle, WA | $58,428,866 | $30,155,547 |
Paul G Allen Family Foundation Seattle, WA | $0 | $45,218,114 |
Dennis R Washington Foundation Inc Missoula, MT | $1,024,973,213 | $135,352,040 |
Friday Foundation Medina, WA | $32,805,393 | $16,602 |
Jon And Karen Huntsman Foundation Salt Lake City, UT | $0 | $68,260,311 |
J A & Kathryn Albertson Foundation Inc Boise, ID | $0 | $34,850,275 |
Skip Viragh Foundation Inc Reno, NV | $289,471,217 | $23,635,241 |
Intel Foundation Hillsboro, OR | $50,440,341 | $47,262 |
George S Eccles And Delores Dore Eccles Foundation Salt Lake City, UT | $0 | $176,040,595 |