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Foundation 59 EIN 83-3769632

Foundation 59

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A private foundation based in Akron, OH. It reported about $26K in revenue for 2023. For fiscal year 2023 it reported $26K in revenue, $26K in expenses, and $2K in net assets.Pt I

Type
Private foundation / grantmaker · Foundations & Grantmakers
Location
Akron, OH
Website
www.foundation59.org
Filings
5 on file (2019–2023)
Revenue
$26KFY2023
Expenses
$26K
Net assets
$2K
People
7
Filings
5
Updates
0
More identity details & actions ⌄
EIN  83-3769632 Private foundation / grantmaker Akron, OH
Form 990 (PDF)
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Size
<$100K
What they do
A private foundation based in Akron, OH. It reported about $26K in revenue for 2023.
Leadership
Brent Saba · Trustee
Money in and out
$26K revenue, $26K expenses
Bottom line
—
Grants paid & assets · FY2023
Total revenue
$26K
Pt VIII · Ln 12
Total expenses
$26K
Pt IX · Ln 25
Net assets
$2K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$36
Total assets
2K
deployed as grants and operations
Grants paid
2K
in FY2023
Grants made
2grants
total in period
Payout rate
68%
of assets (5% rule)

Who They Fund

Part XV · grants paid · 2 grants · $2K · 2023–2023
Gonzales-Ribble FamilyFY2023$1,000
Haynes FamilyFY2023$500

Grantmaking Profile

Patterns in foundation giving
Average grantPart XV$750
Median grantPart XV$1K
Largest grantPart XV$1K

Summary of the Filing

Part I · fiscal year 2023 · Form 990-PF
Revenue
$26K
FY2023▼ -22%
Expenses
$26K
FY2023▼ -32%
Total assets
$2K
FY2023▼ -2%
Total liabilities
$0
FY2023▼ -100%
Total revenue
$26K
Pt VIII · Ln 12
Total expenses
$26K
Pt IX · Ln 25
Net assets
$2K
Pt X · Ln 32
Total assetsPt II$2K

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CFoundation 59
EINHdr · item D83-3769632
Principal addressHdr · item CAkron, OH
WebsiteHdr · item Jwww.foundation59.org
State of legal domicileHdr · item MOH
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFFoundations & Grantmakers (T23)
Ruling yearIRS BMFJul 2019

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
Brent Saba
Trustee
$0Pt VII · Sec A
$0Pt VII · Sec A
Tim Eames
Executive Di
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Other revenue$24K · 94%
Contributions & grants$2K · 6%
Other revenue94%$24K
Contributions & grants6%$2K
Total revenueLn 12$26K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Grants & contributions paid $0.06 Operating & administrative $0.94
Grants & contributions paid6%$2K
Operating & administrative94%$24K
Total functional expensesLn 25$26K

Balance Sheet

Part X · end of year
CashLn 1$2K
Total assetsLn 16$2K
Total liabilitiesLn 26$0
Total net assetsLn 32$2K
Months of cash on handcomputed1.0

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Payout rate
Grants paid $0 · Total assets $2K
0%
Where the money comes from
Contribution dependence
Contributions & grants — · Total revenue $26K
—
Government reliance
not reported
Earned-income share
not reported
Investment reliance
Investment income $0 · Total revenue $26K
0%
Program self-sufficiency
not reported
Growth & trend
Revenue growth (YoY)
This year $26K · Prior year $33K
-22%
Net-asset trend (YoY)
End of year $2K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $26K · Expenses $26K
-0.1%
Liabilities-to-Assets
Total liabilities — · Total assets $2K
—
Net-asset ratio
Net assets $2K · Total assets $2K
100%
People & payroll
Highest Reported Total Compensation
Individual Brent Saba · Reported title TRUSTEE · Highest reported compensation $0 · Total expenses $26K
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 -22%——

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
FY2023 (Latest)$26K revenue · viewing · ⤓ 990 PDF
FY2022$33K revenue · ⤓ 990 PDF
FY2021$30K revenue · ⤓ 990 PDF
FY2020$12K revenue · ⤓ 990 PDF
FY2019$1K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2023IRS
Classification, formation year, addressIRS Business Master File
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