Charles And Linda Corbalis Family Foundation
- Assets
- $5.1m
- Revenue
- $254.1k
- Investments
- $4.8m
- Employees
- 0
- Location
- Star, ID
- Founding
- 04/1998
- Data as of
- 12/2022
- 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 12/2022, Charles And Linda Corbalis Family Foundation generated $254.1k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.5% each year. All expenses for the organization totaled $414.3k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Charles And Linda Corbalis Family Foundation has awarded 181 individual grants totaling $2,044,875. 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
2022
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 | $1,703 |
| Dividends & Interest | $162,762 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $89,656 |
| Capital Gain Net Income | $89,656 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $254,121 |
| 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 | $28,213 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $915 |
| Printing and publications | $0 |
| Other expenses | $1,885 |
| Total operating and administrative expenses | $197,734 |
| Contributions, gifts, grants paid | $216,600 |
| Total expenses and disbursements | $414,334 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $314,952 |
| 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 | $472,751 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $5,140,466 |
| 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 $216,600 in support to 20 organizations.
| Grant Recipient | Amount |
|---|---|
REGNUM CHRISTI SPIRITUALITY CENTER PURPOSE: TO SUPPORT PROGRAMS OF THE CATHOLIC FAITH | $5,000 |
VICTORY RANCH INC PURPOSE: TO PROVIDE COMMUNITY SUPPORT | $5,000 |
SAINT PATRICK'S SEMINARY UNIVERSITY PURPOSE: TO SUPPORT PROGRAMS OF THE CATHOLIC FAITH | $10,000 |
ORDER OF MALTA PURPOSE: TO PROVIDE COMMUNITY SUPPORT | $7,400 |
CANYON HEIGHTS ACADEMY PURPOSE: TO SUPPORT EDUCATIONAL ACTIVITIES | $10,000 |
LIVE ACTION PURPOSE: TO PROVIDE COMMUNITY SUPPORT | $10,000 |