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Also known as: FOUNDATION
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Florence B & Cornelia A Palmer Foundation is a private corporation based in ELGIN, IL. The foundation received its IRS ruling in 1998. The principal officer is Frederick J Steffen. It holds total assets of $962K. Annual income is reported at $586K. Total assets have decreased from $2.7M in 2011 to $1.1M in 2023. The foundation is governed by 3 officers and trustees. The foundation operates in the area of philanthropy & grantmaking. Tax records are available from 2016 to 2023. Grantmaking is concentrated in Illinois. According to available records, Florence B & Cornelia A Palmer Foundation has made 22 grants totaling $217K, with a median grant of $10K. Annual giving has decreased from $134K in 2022 to $83K in 2023. Individual grants have ranged from $968 to $22K, with an average award of $10K. The foundation has supported 16 unique organizations. Grant recipients are concentrated in Illinois.
Smallest Grant
$3K
Median Grant
$8K
Average Grant
$7K
Largest Grant
$10K
Based on 6 grants from the most recent 990-PF filing.
No program descriptions are available for this foundation. Many private foundations report program activities in their annual 990-PF filings — check the Tax Filings section below for the most recent filing.
Florence B & Cornelia A Palmer Foundation primarily funds organizations in the area of philanthropy & grantmaking. Based on available records, the foundation has funded 22 grants. Its grantmaking reaches organizations primarily in IL.
Florence B & Cornelia A Palmer Foundation has distributed a total of $217K across 22 grants. The median grant size is $10K, with an average of $10K. Individual grants have ranged from $968 to $22K.
The application deadline is APRIL 1ST & SEPT 1ST: UNLESS SPECIAL BOARD APPROVAL. Performing & visual arts in the elgin area.
Florence B & Cornelia A Palmer Foundation is headquartered in ELGIN, IL.
| Name | Title | Compensation | Benefits | Total |
|---|---|---|---|---|
| Frederick J Steffen | CO-TRUSTEE A | $100K | $0 | $100K |
| Donald Hopp | CO-TRUSTEE | $25K | $0 | $25K |
| Robert Steffen | CO-TRUSTEE | $0 | $0 | N/A |
Total Giving
$221K
Total Assets
$1.1M
Fair Market Value
$1.3M
Net Worth
$1.1M
Grants Paid
$83K
Contributions
N/A
Net Investment Income
$17K
Distribution Amount
$61K
Total: $1M
Total Grants
22
Total Giving
$217K
Average Grant
$10K
Median Grant
$10K
Unique Recipients
16
Most Common Grant
$10K
of 2023 grantees were first-time recipients
| Recipient | Location | Amount | Year |
|---|---|---|---|
| First Congregational ChurchPROGRAM SPONSOR GRANT | Elgin, IL | $1K | 2023 |
| Elgin Symphony OrchestraDEVELOPMENT GRANT | Elgin, IL | $16K | 2023 |
| Side Street StudioDEV GRANT | Elgin, IL | $16K | 2023 |
| Children'S Theatre Company Of ElginDEV GRANT | Elgin, IL | $14K | 2023 |
| Elgin Master ChoralDEV GRANT | Elgin, IL | $14K | 2023 |
| Chamber Music On The FoxDEV GRANT | Elgin, IL | $10K | 2023 |
| Gail Borden LibraryCHALLANGE GRANT | Elgin, IL | $8K | 2023 |
| Studio 10 NfpPROGRAM SPONSOR GRANT | Elgin, IL | $3K | 2023 |
| Elgin Historical SocietyPROGRAM SPONSOR GRANT | Elgin, IL | $2K | 2023 |
| Elgin Youth SymphonyCHALLANGE GRANT | Elgin, IL | $10K | 2022 |
| YwcaDEV GRANT | Elgin, IL | $10K | 2022 |
| City Of ElginOUTDOOR ART GRANT | Elgin, IL | $10K | 2022 |
| Elgin Community CollegeCOLLEGE ARTS POETRY CONTEST | Elgin, IL | $6K | 2022 |
| Elgin Public MuseumMATCHING GRANT | Elgin, IL | $5K | 2022 |
| Independent PlayersEMERGENCY GRANT | Elgin, IL | $5K | 2022 |
| Elgin Theatre CompanyCHALLANGE GRANT | Elgin, IL | $968 | 2022 |