Gummels Family Foundation Inc
- Assets
- $1.6m
- Revenue
- $347.4k
- Investments
- $1.5m
- Employees
- 0
- Location
- Panama City Beach, FL
- Founding
- 06/2019
- Data as of
- 12/2021
- EIN
- 81-4753569
Organization Overview
Gummels Family Foundation Inc is located in Panama City Beach, FL. The organization was established in 2019. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Gummels Family 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, Gummels Family Foundation Inc generated $347.4k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 27.3% each year . All expenses for the organization totaled $74.9k during the year ending 12/2021. While expenses have increased by 35.0% per year over the past 4 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kenneth Gummels President | 0 | $0 | |
Michael E Townsend Director | 0 | $0 | |
Marilyn Gummels Vp/sec | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $86,377 |
| Interest on Savings | $25 |
| Dividends & Interest | $44,805 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $216,210 |
| Capital Gain Net Income | $584 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $347,417 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $61 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $8,260 |
| Total operating and administrative expenses | $24,396 |
| Contributions, gifts, grants paid | $50,500 |
| Total expenses and disbursements | $74,896 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $68,547 |
| Savings and temporary cash investments | $0 |
| 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 | $623,680 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,582,466 |
| 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, Gummels Family Foundation Inc has awarded $50,500 in support to 16 organizations.
| Grant Recipient | Amount |
|---|---|
PANAMA CITY SYMPHONY PURPOSE: LIVE SYMPHONIC MUSIC TO ENGAGE | $7,500 |
HABITAT FOR HUMANITY PURPOSE: PROVIDE SAFE & AFFORDABLE HOUSING | $4,000 |
GARY SENISE FOUNDATION PURPOSE: SUPPORT TO SOLDIERS&FIRST RESPONDERS | $3,000 |
Clermont, FL PURPOSE: SPORTS FOR DISABLED INDIVIDUALS | $3,000 |
Atlanta, GA PURPOSE: SERVICES FOR CHILDREN AND FAMILIES | $3,000 |
ANCHORAGE CHIILDREN'S HOME PURPOSE: PROVIDE SAFETY TO ABUSED & HOMELESS | $3,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Gerstner Family Foundation Palm Beach, FL | $0 | $14,356,897 |
C And A Johnson Family Foundation Palm Beach, FL | $1,837,672 | $36,829,878 |
Bernard A Egan Foundation Inc Fort Pierce, FL | $114,916,843 | $8,190,041 |
Volo Foundation West Palm Beach, FL | $90,593,574 | $39,243,296 |
Lucy Gooding Charitable Foundation Trust Jacksonville, FL | $96,067,891 | $12,365,661 |
Foundation For A Better World Inc Marietta, GA | $167,606,554 | $6,349,362 |
Raether 1985 Charitable Trust West Palm Beach, FL | $51,858,010 | $28,246,620 |
George Jenkins Foundation Inc Lakeland, FL | $24,813,802 | $4,640,014 |
Grizzard Family Foundation Inc Stone Mountain, GA | $7,597,688 | $166,630 |
Lattner Family Foundation Inc Delray Beach, FL | $83,049,454 | $6,453,485 |
The Leandro P Rizzuto Foundation Boynton Beach, FL | $36,759,005 | $9,755,939 |
Bluebell Foundation North Palm Beach, FL | $4,746,797 | $3,595,291 |