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Crain-Maling Foundation EIN 20-4310219

Crain-Maling Foundation

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A private foundation based in Lake Forest, IL. It reported about $2.4M in revenue for 2023. For fiscal year 2024 it reported $2.4M in revenue, $2.9M in expenses, and $32.1M in net assets.Pt I

Type
Private foundation / grantmaker · Foundations & Grantmakers
Location
Lake Forest, IL
Filings
5 on file (2020–2024)
Revenue
$2.4MFY2024
Expenses
$2.9M
Net assets
$32.1M
People
3
Filings
5
Updates
0
More identity details & actions ⌄
EIN  20-4310219 Private foundation / grantmaker Lake Forest, IL
Form 990 (PDF)
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Size
$1–10M
What they do
A private foundation based in Lake Forest, IL. It reported about $2.4M in revenue for 2023.
Leadership
Michael S Maling · Chairperson, CEO & Director · $387K
Money in and out
$2.4M revenue, $2.9M expenses
Bottom line
—
Grants paid & assets · FY2024
Total revenue
$2.4M
Pt VIII · Ln 12
Total expenses
$2.9M
Pt IX · Ln 25
Net assets
$32.1M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$465K
Total assets
32.7M
deployed as grants and operations
Grants paid
1.4M
in FY2024
Grants made
110grants
total in period
Payout rate
4%
of assets (5% rule)

Who They Fund

Part XV · grants paid · 110 grants · $1.4M · 2023–2023
Jewish Educational MediaNY · FY2023$165,000
Merkos L Inyonei Chinuch Lubavitch of Indiana INCFY2023$130,000
Bais Chana Women International INCNY · FY2023$77,000
Clarion Project INCTX · FY2023$55,000
NcsyCA · FY2023$53,000
University of ChicagoIL · FY2023$50,000
The Binyamin Fund INCFY2023$50,000
Gastrointestinal Research FoundationFY2023$50,000
Neimus MosheFY2023$35,000
Jewish National Fund -Keren Kayemeth Leisrael- INCNY · FY2023$30,000
ChamahNY · FY2023$30,000
Caring for FriendsFY2023$30,000
Chicago Symphony OrchestraIL · FY2023$29,500
Cove School INCIL · FY2023$28,000
WttwFY2023$25,000
Opendor MediaFY2023$25,000
Jewish Youth Foundation INCWI · FY2023$25,000
Hillel Torah Day SchoolFY2023$25,000
See all 110 grants →

Grantmaking Profile

Patterns in foundation giving
Distinct granteesPart XV57
Average grantPart XV$13K
Median grantPart XV$5K
Largest grantPart XV$165K
Top cause focusNTEEReligion (23%)

Summary of the Filing

Part I · fiscal year 2024 · Form 990-PF
Revenue
$2.4M
FY2024▲ +166%
Expenses
$2.9M
FY2024▲ +2%
Total assets
$32.7M
FY2024▼ -1%
Total liabilities
$577K
FY2024▲ +7%
Total revenue
$2.4M
Pt VIII · Ln 12
Total expenses
$2.9M
Pt IX · Ln 25
Net assets
$32.1M
Pt X · Ln 32
Total assetsPt II$32.7M

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CCrain-Maling Foundation
EINHdr · item D20-4310219
Principal addressHdr · item CLake Forest, IL
WebsiteHdr · item Jnone reported
State of legal domicileHdr · item MIL
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFFoundations & Grantmakers (T22)
Ruling yearIRS BMFMay 2006

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1apending
Independent voting membersPt VI · Ln 1bpending
Conflict-of-interest policyPt VI · Ln 12a—
Whistleblower policyPt VI · Ln 13—
Document retention policyPt VI · Ln 14—
CEO/top-official compensation independently reviewedPt VI · Ln 15a—
Family or business relationships among officers/directorsPt VI · Ln 2—

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Michael S Maling
Chairperson, CEO & Director
$386,925Pt VII · Sec A
Elise Williams
Co-President, Treasurer & Director
$125,424Pt VII · Sec A
Marissa Iancu
Co-President, Secretary & Director
$125,424Pt VII · Sec A
See Crain-Maling Foundation executive salaries →

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Statement of Revenue

Part VIII
Investment income$2.3M · 94%
Other revenue$147K · 6%
Investment income94%$2.3M
Other revenue6%$147K
Total revenueLn 12$2.4M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Grants & contributions paid $0.50 Operating & administrative $0.50
Grants & contributions paid50%$1.4M
Operating & administrative50%$1.4M
Total functional expensesLn 25$2.9M

Balance Sheet

Part X · end of year
CashLn 1$199K
Total assetsLn 16$32.7M
Total liabilitiesLn 26$577K
Total net assetsLn 32$32.1M
Months of cash on handcomputed0.8

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Payout rate
Grants paid $0 · Total assets $32.7M
0%
Where the money comes from
Contribution dependence
Contributions & grants — · Total revenue $2.4M
—
Government reliance
not reported
Earned-income share
not reported
Investment reliance
Investment income $0 · Total revenue $2.4M
0%
Program self-sufficiency
not reported
Growth & trend
Revenue growth (YoY)
This year $2.4M · Prior year $-3.6M
Prior-year revenue below floor — showing dollar change
Net-asset trend (YoY)
End of year $32.1M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $2.4M · Expenses $2.9M
-19%
Liabilities-to-Assets
Total liabilities — · Total assets $32.7M
—
Net-asset ratio
Net assets $32.1M · Total assets $32.7M
98%
People & payroll
Highest Reported Total Compensation
Individual Michael S Maling · Reported title CHAIRPERSON, CEO & DIRECTOR · Highest reported compensation $387K · Total expenses $2.9M
14%
Personnel share
not reported
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Revenue growth 166%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$2.4M revenue · viewing · ⤓ 990 PDF
FY2023$-3.6M revenue · ⤓ 990 PDF
FY2022$1.4M revenue · ⤓ 990 PDF
FY2021$2.6M revenue · ⤓ 990 PDF
FY2020$-1.7M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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