Michael J Connell Foundation Michael J Connell Charities Lte
- Assets
- $13.1m
- Revenue
- $1.2m
- Investments
- $12.4m
- Employees
- 0
- Location
- Pasadena, CA
- Founding
- 04/1935
- Data as of
- 06/2022
- EIN
- 95-6000904
Organization Overview
Michael J Connell Foundation Michael J Connell Charities Lte is located in Pasadena, CA. The organization was established in 1935. 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. Michael J Connell Foundation Michael J Connell Charities Lte 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 06/2022, Michael J Connell Foundation Michael J Connell Charities Lte generated $1.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.1% each year. All expenses for the organization totaled $944.2k during the year ending 06/2022. While expenses have increased by 4.1% 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 2016, Michael J Connell Foundation Michael J Connell Charities Lte has awarded 180 individual grants totaling $5,919,200. 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 |
|---|---|---|---|
Christopher Connell Director | 0.1 | $0 | |
Leith O'leary Vp/treasurer | 0.1 | $0 | |
Paul Grossman Vice President | 0.1 | $0 | |
Jennifer Devoll Director | 0.1 | $0 | |
Kristina Alley Director | 0.1 | $0 | |
Richard Grant Secretary | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $378,807 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $791,894 |
| Capital Gain Net Income | $791,894 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $13,311 |
| Total Revenue | $1,184,012 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $20,002 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $2,233 |
| Depreciation | $0 |
| Occupancy | $21,472 |
| Travel, conferences, and meetings | $756 |
| Printing and publications | $0 |
| Other expenses | $3,944 |
| Total operating and administrative expenses | $204,211 |
| Contributions, gifts, grants paid | $740,000 |
| Total expenses and disbursements | $944,211 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $15,236 |
| Savings and temporary cash investments | $695,561 |
| 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 | $5,634,236 |
| Net Land, buildings, and equipment | $42,572 |
| Other assets | $3,934 |
| Total assets | $13,144,238 |
| 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 | $12,008 |
| Total liabilities | $12,008 |
Grants Awarded
Over the last fiscal year, Michael J Connell Foundation Michael J Connell Charities Lte has awarded $740,000 in support to 16 organizations.
| Grant Recipient | Amount |
|---|---|
RANCHO SANTA ANA BOTANIC GARDEN PURPOSE: GRANT -"ELENA GRANT CAHIR ENVIRONMENTAL EDUCATION ENDOWMENT FUND" | $300,000 |
Los Angeles, CA PURPOSE: PROGRAM SUPPORT | $167,000 |
Los Angeles, CA PURPOSE: GRANT TO SUPPORT GENERAL OPERATIONS | $50,000 |
MAKER LEARNING NETWORK PURPOSE: GRANT FOR VR EDUCATIONAL CURRICULUM | $30,000 |
MOBILE LOAVES AND FISHES PURPOSE: BUILD HOMES FOR HOMELESS | $30,000 |
Oakland, CA PURPOSE: GRANT 2021 | $30,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Dr Miriam And Sheldon G Adelson Las Vegas, NV | $37,664,470 | $5,516,038 |
Shimon Ben Joseph Foundation San Francisco, CA | $1,592,283,787 | $39,921,005 |
Alfred C Munger Foundation Los Angeles, CA | $17,737,694 | $91,163,030 |
Hellman Foundation San Francisco, CA | $693,471,633 | $133,789,010 |
The Eric And Wendy Schmidt Fund For Strategic Innovation Palo Alto, CA | $1,715,568,763 | $412,161,407 |
Omidyar Network Fund Inc Redwood City, CA | $490,038,780 | $21,031,743 |
Sobrato Family Foundation Mountain View, CA | $811,956,453 | $266,068,436 |
Moore Family Foundation Incline Village, NV | $173,909 | $5,659,701 |
Benificus Foundation San Carlos, CA | $13,481,294 | $1,960,393 |
H&h Evergreen Foundation Menlo Park, CA | $393,647,714 | $39,435,652 |
The Energy Foundation San Francisco, CA | $108,278,429 | $83,158,939 |
Stupski Foundation San Francisco, CA | $0 | $134,835,311 |