G M L Foundation
- Assets
- $1.1m
- Revenue
- $56.3k
- Investments
- $968.1k
- Employees
- 0
- Location
- Port Angeles, WA
- Founding
- 06/1941
- Data as of
- 12/2023
- EIN
- 91-6030844
Organization Overview
G M L Foundation is located in Port Angeles, WA. The organization was established in 1941. 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. G M L 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 12/2023, G M L Foundation generated $56.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (3.2%) each year. All expenses for the organization totaled $91.9k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, G M L Foundation has awarded 56 individual grants totaling $226,707. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEDICAL AID DISBURSEMENTS
WIDOWS ASSISTANCE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ken Macklin Vice Preside | 0 | $315 | |
Harbir Bower Treasurer | 0 | $350 | |
Kate Dexter Director | 0 | $210 | |
Laura Murray Secretary | 0 | $350 | |
Lauren Erickson President | 0 | $210 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $113 |
| Dividends & Interest | $23,680 |
| Net Rental Income | $38,400 |
| Net Gain on Sale of Assets | -$5,956 |
| Capital Gain Net Income | $5,301 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $33 |
| Total Revenue | $56,270 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $1,435 |
| Other employee salaries and wages | $11,187 |
| Pension plans, employee benefits | $2,250 |
| Interest | $0 |
| Taxes | $3,848 |
| Depreciation | $6,465 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $34,192 |
| Total operating and administrative expenses | $68,061 |
| Contributions, gifts, grants paid | $23,789 |
| Total expenses and disbursements | $91,850 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,402 |
| 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 | $0 |
| Net Land, buildings, and equipment | $171,179 |
| Other assets | $0 |
| Total assets | $1,146,681 |
| 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, G M L Foundation has awarded $23,789 in support to 13 organizations.
| Grant Recipient | Amount |
|---|---|
ATT ASTOUND PURPOSE: TELEPHONE | $225 |
CHRISTMAS CHECKS FOR 30 WIDOWS PURPOSE: CHRISTMAS CHECKS FOR 30 WIDOWS | $3,406 |
CITY OF PORT ANGELES PURPOSE: UTILITIES | $112 |
DEPARTMENT OF MOTOR VEHICLES PURPOSE: TITLE REGISTRATION | $254 |
DIARYLAND - INSURE ONE INSURANCE PURPOSE: VEHICLE INSURANCE | $86 |
EMERALD MHRV PARK PURPOSE: RENT | $2,290 |