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Worthington Family Foundation EIN 26-4445573

Worthington Family Foundation

EIN  26-4445573 Private foundation / grantmaker Traverse City, MI
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Size
$100K–1M
What they do
A private foundation based in Traverse City, MI. It reported about $492K in revenue for 2024.
Leadership
Dr Ruth Worthington · President
Money in and out
$492K revenue, $284K expenses
Bottom line
—

A private foundation based in Traverse City, MI. It reported about $492K in revenue for 2024. For fiscal year 2024 it reported $492K in revenue, $284K in expenses, and $4.7M in net assets.Pt I

Grants paid & assets · FY2024
Total revenue
$492K
Pt VIII · Ln 12
Total expenses
$284K
Pt IX · Ln 25
Net assets
$4.7M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $208K
Total assets
4.7M
deployed as grants and operations
Grants paid
246K
in FY2024
Grants made
11grants
total in period
Payout rate
5%
of assets (5% rule)

Who They Fund

Part XV · grants paid · 11 grants · $246K · 2024–2024
Old Town Playhouse INCMI · FY2024$46,615
Msu Opera TheatreFY2024$33,500
Pewabic PotteryFY2024$29,000
Scenic City Clay ArtsTN · FY2024$25,000
Inland Seas Education AssociationMI · FY2024$25,000
W Virginia Symphony OrchestraFY2024$20,000
Au Sable Trails Institute of Environmental StudiesMI · FY2024$20,000
Ecology CenterFY2024$18,395
Washtenaw International High SchoolFY2024$14,000
SeedsFY2024$9,000
Arching Oaks Japanese Art CenterFY2024$5,000

Grantmaking Profile

Patterns in foundation giving
Distinct granteesPart XV4
Average grantPart XV$22K
Median grantPart XV$20K
Largest grantPart XV$47K
Top cause focusNTEEArts & Culture (18%)

Summary of the Filing

Part I · fiscal year 2024 · Form 990-PF
Revenue
$492K
FY2024▲ +97%
Expenses
$284K
FY2024▲ +6%
Total assets
$4.7M
FY2024▲ +5%
Total liabilities
$0
FY2024
Total revenue
$492K
Pt VIII · Ln 12
Total expenses
$284K
Pt IX · Ln 25
Net assets
$4.7M
Pt X · Ln 32
Total assetsPt II$4.7M

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CWorthington Family Foundation
EINHdr · item D26-4445573
Principal addressHdr · item CTraverse City, MI
WebsiteHdr · item Jwww.worthington-family-foundation.org
State of legal domicileHdr · item MMI
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFFoundations & Grantmakers (T22)
Ruling yearIRS BMFJul 2009

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
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Worthington Family Foundation executive salaries →

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Statement of Revenue

Part VIII
Investment income100%$492K
Total revenueLn 12$492K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Grants & contributions paid $0.86 Operating & administrative $0.14
Grants & contributions paid86%$246K
Operating & administrative14%$39K
Total functional expensesLn 25$284K

Balance Sheet

Part X · end of year
CashLn 1$114K
Total assetsLn 16$4.7M
Total liabilitiesLn 26$0
Total net assetsLn 32$4.7M
Months of cash on handcomputed4.8

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Payout rate
Grants paid $0 · Total assets $4.7M
0%
Where the money comes from
Contribution dependence
Contributions & grants — · Total revenue $492K
—
Government reliance
not reported
Earned-income share
not reported
Investment reliance
Investment income $0 · Total revenue $492K
0%
Program self-sufficiency
not reported
Growth & trend
Revenue growth (YoY)
This year $492K · Prior year $250K
+97%
Revenue CAGR
FY2020 $238K · FY2024 $492K
+20%
Net-asset trend (YoY)
End of year $4.7M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $492K · Expenses $284K
+42%
Liabilities-to-Assets
Total liabilities — · Total assets $4.7M
—
Net-asset ratio
Net assets $4.7M · Total assets $4.7M
100%
People & payroll
Highest Reported Total Compensation
Individual Dr Ruth Worthington · Reported title PRESIDENT · Highest reported compensation $0 · Total expenses $284K
0%
Personnel share
not reported
Peer comparison

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

MetricThis orgPeer medianPercentile
Revenue growth 97%——

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)$492K revenue · viewing · ⤓ 990 PDF
FY2023$250K revenue · ⤓ 990 PDF
FY2022$440K revenue · ⤓ 990 PDF
FY2021$626K revenue · ⤓ 990 PDF
FY2020$238K 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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