Herbert I & Elsa B Michael Foundation
- Assets
- $6.0m
- Revenue
- $177.4k
- Investments
- $5.8m
- Employees
- 0
- Location
- Milwaukee, WI
- Founding
- 07/1956
- Data as of
- 09/2023
- EIN
- 87-6122556
Organization Overview
Herbert I & Elsa B Michael Foundation is located in Milwaukee, WI. The organization was established in 1956. 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. Herbert I & Elsa B Michael 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 09/2023, Herbert I & Elsa B Michael Foundation generated $177.4k in total revenue. The organization has seen a slow decline revenue. Over the past 4 years, revenues have fallen by an average of (2.6%) each year. All expenses for the organization totaled $85.8k during the year ending 09/2023. As we would expect to see with falling revenues, expenses have declined by (33.1%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Herbert I & Elsa B Michael Foundation has awarded 188 individual grants totaling $1,067,200. 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 |
|---|---|---|---|
Us Bank National Association Trustee | 0 | $66,666 | |
Jason W Hardin Co-Trustee | 0 | $0 | |
Swenson Law Firm Llc Co-Trustee | 0 | $0 | |
Keith Odendahl Char Committee | 0 | $0 | |
Taylor Randall Char Committee | 0 | $0 | |
Matthew Durrant Char Committee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $789 |
| Dividends & Interest | $157,206 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $19,399 |
| Capital Gain Net Income | $19,399 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $15 |
| Total Revenue | $177,409 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $66,666 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $6,428 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $662 |
| Total operating and administrative expenses | $85,752 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $85,752 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $187,916 |
| 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 | $556 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $6,036,878 |
| 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, Herbert I & Elsa B Michael Foundation has awarded $551,200 in support to 85 organizations.
| Grant Recipient | Amount |
|---|---|
UNIV OF UTAH - COLLEGE OF SCIENCE PURPOSE: SCHOLARSHIPS FOR COLLEGE OF SCIENCE | $5,000 |
THE CHILDREN'S CENTER PURPOSE: THERAPEUTIC PRESCHOOL | $10,000 |
WESTMINSTER COLLEGE PURPOSE: STUDENT LEADERS IN CIVIC ENGAGEMENT | $10,200 |
CROSSROADS URBAN CENTER PURPOSE: EMERGENCY FOOD PANTRY, THRIFT STORE, AND FOOD CO OP | $27,000 |
RAPE RECOVERY CENTER PURPOSE: PREVENTIVE COMMUNITY EDUCATION PROGRAM | $5,000 |
THE ROAD HOME PURPOSE: SELF-SUFFICIENCY PROGRAM | $14,500 |