American Foundation Corporation

Cleveland, OH
Tax-exempt since Feb. 1974
EIN: 23-7348126

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Type of Nonprofit

Designated as a 501(c)(3) Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Donations to this organization are tax deductible.

Revenue

$361k (2023)

Expenses

$1.67M (2023)

Total Assets

$22.1M (2023)

Total Liabilities

$0 (2023)

Source: Form 990 tax filings from 2011 to 2023

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Dec.
2023

Revenue

$361,351

Expenses

$1,668,233

Net Income

-$1,306,882

Net Assets

$22,133,416

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$145,020	40.1%
Dividends	$311,358	86.2%
Sales of Assets	-$95,693
Other Income	$666	0.2%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$1,353,205	81.1%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$22,133,416
Total Liabilities	$0
Net Assets	$22,133,416

Compensation

Key Employees and Officers	Compensation	Other
Dwight B Corning (President /)	$0	$0
Mary V Murfey (V. Pres. / D)	$0	$0
Nadine J Martin (Asst Secr/As)	$0	$0
Maria G Muth (Secr. / Trea)	$0	$0
Frank Ryan (V President)	$0	$0

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990-PF

Filed on Nov. 7, 2024

Primary tax return for a private foundation's activities, finances, and governance

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Schedules ▼

XML

Fiscal Year Ending Dec.
2022

Revenue

$274,856

Expenses

$1,962,065

Net Income

-$1,687,209

Net Assets

$24,351,205

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$29,556	10.8%
Dividends	$435,773	> 100%
Sales of Assets	-$190,473
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$1,631,017	83.1%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$24,351,205
Total Liabilities	$0
Net Assets	$24,351,205

Compensation

Key Employees and Officers	Compensation	Other
Dwight B Corning (President /)	$0	$0
Mary V Murfey (V. Pres. / D)	$0	$0
Nadine J Martin (Asst Secr/As)	$0	$0
Maria G Muth (Secr. / Trea)	$0	$0
Frank Ryan (V President)	$0	$0

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990-PF

Filed on Nov. 9, 2023

Primary tax return for a private foundation's activities, finances, and governance

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Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2021

Revenue

$2,257,027

Expenses

$1,539,462

Net Income

$717,565

Net Assets

$26,990,486

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$1,074	0.0%
Dividends	$490,473	21.7%
Sales of Assets	$1,765,480	78.2%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$1,264,792	82.2%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$26,990,486
Total Liabilities	$0
Net Assets	$26,990,486

Compensation

Key Employees and Officers	Compensation	Other
Dwight B Corning (President /)	$0	$0
Mary V Murfey (V. Pres. / D)	$0	$0
Nadine J Martin (Asst Secr/As)	$0	$0
Maria G Muth (Secr. / Trea)	$0	$0
Frank Ryan (V President)	$0	$0

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990-PF

Filed on Nov. 15, 2022

Primary tax return for a private foundation's activities, finances, and governance

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Schedules ▼

XML

Fiscal Year Ending Dec.
2020

Revenue

-$28,001

Expenses

$1,642,944

Net Income

-$1,670,945

Net Assets

$26,449,969

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$1,524
Dividends	$380,582
Sales of Assets	$0
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$1,381,025	84.1%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$26,449,970
Total Liabilities	$1
Net Assets	$26,449,969

Compensation

Key Employees and Officers	Compensation	Other
Dwight B Corning (President /)	$0	$0
Mary V Murfey (V. Pres. / D)	$0	$0
Nadine J Martin (Asst Secr/As)	$0	$0
Maria G Muth (Secr. / Trea)	$0	$0
Frank Ryan (V President)	$0	$0

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990-PF

Filed on Aug. 4, 2021

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2019

Revenue

$497,881

Expenses

$1,493,428

Net Income

-$995,547

Net Assets

$22,761,945

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$3,544	0.7%
Dividends	$501,225	> 100%
Sales of Assets	$0
Other Income	$4,462	0.9%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$1,267,968	84.9%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$22,761,946
Total Liabilities	$1
Net Assets	$22,761,945

Compensation

Key Employees and Officers	Compensation	Other
Dwight B Corning (President /)	$0	$0
Mary V Murfey (V. Pres. / D)	$0	$0
Nadine J Martin (Asst Secr/As)	$0	$0
Homer W Chisholm (Trustee / Di)	$0	$0
Maria G Muth (Secr. / Trea)	$0	$0
Frank Ryan (V President)	$0	$0

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990-PF

Filed on Nov. 11, 2020

Primary tax return for a private foundation's activities, finances, and governance

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Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2018

Revenue

$1,912,777

Expenses

$1,818,489

Net Income

$94,288

Net Assets

$23,719,249

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$2,319	0.1%
Dividends	$552,855	28.9%
Sales of Assets	$1,345,811	70.4%
Other Income	$11,792	0.6%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$1,565,525	86.1%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$23,719,249
Total Liabilities	$0
Net Assets	$23,719,249

Compensation

Key Employees and Officers	Compensation	Other
Dwight B Corning (President /)	$0	$0
Mary V Murfey (V. Pres. / D)	$0	$0
Nadine J Martin (Asst Secr/As)	$0	$0
Homer W Chisholm (Trustee / Di)	$0	$0
Maria G Muth (Secr. / Trea)	$0	$0
Frank Ryan (V President)	$0	$0

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990-PF

Filed on Nov. 18, 2019

Primary tax return for a private foundation's activities, finances, and governance

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PDF XML

Fiscal Year Ending Dec.
2017

Revenue

$1,428,670

Expenses

$1,607,598

Net Income

-$178,928

Net Assets

$24,189,478

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$35,312	2.5%
Dividends	$398,979	27.9%
Sales of Assets	$994,379	69.6%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$1,325,604	82.5%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$24,193,812
Total Liabilities	$4,334
Net Assets	$24,189,478

Compensation

Key Employees and Officers	Compensation	Other
Dwight B Corning (President /)	$0	$0
Mary V Murfey (V. Pres. / D)	$0	$0
Nadine J Martin (Asst Secr/As)	$0	$0
Homer W Chisholm (Trustee / Di)	$0	$0
Maria G Muth (Secr. / Trea)	$0	$0
Frank Ryan (V President)	$0	$0

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990-PF

Filed on Oct. 17, 2018

Primary tax return for a private foundation's activities, finances, and governance

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Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2016

Revenue

$155,495

Expenses

$1,810,851

Net Income

-$1,655,356

Net Assets

$24,439,301

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$58,626	37.7%
Dividends	$420,814	> 100%
Sales of Assets	-$308,454
Other Income	-$15,491

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$1,698,765	93.8%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$24,433,208
Total Liabilities	-$6,093
Net Assets	$24,439,301

Compensation

Key Employees and Officers	Compensation	Other
Dwight B Corning (President /)	$0	$0
Mary V Murfey (V. Pres. / D)	$0	$0
Nadine J Martin (Asst Secr/As)	$0	$0
Homer W Chisholm (Trustee / Di)	$0	$0
Maria G Muth (Secr. / Trea)	$0	$0
Frank Ryan (V President)	$0	$0

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990-PF

Filed on Nov. 15, 2017

Primary tax return for a private foundation's activities, finances, and governance

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Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2015

Revenue

$2,446,444

Expenses

$1,154,985

Net Income

$1,291,459

Net Assets

$26,094,657

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$20,341	0.8%
Dividends	$473,473	19.4%
Sales of Assets	$2,030,249	83.0%
Other Income	-$77,619

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$1,010,289	87.5%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$26,089,979
Total Liabilities	-$4,678
Net Assets	$26,094,657

990-PF

Primary tax return for a private foundation's activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2014

Revenue

$2,607,944

Expenses

$1,516,728

Net Income

$1,091,216

Net Assets

$24,803,198

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$452	0.0%
Dividends	$691,693	26.5%
Sales of Assets	$1,915,799	73.5%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$1,368,556	90.2%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$24,816,422
Total Liabilities	$13,224
Net Assets	$24,803,198

990-PF

Primary tax return for a private foundation's activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2013

Revenue

$1,467,912

Expenses

$1,387,802

Net Income

$80,110

Net Assets

$24,345,193

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$568,004	38.7%
Sales of Assets	$899,908	61.3%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$1,290,532	93.0%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$24,355,985
Total Liabilities	$10,792
Net Assets	$24,345,193

990-PF

Primary tax return for a private foundation's activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2012

Revenue

$11,901,981

Expenses

$1,477,991

Net Income

$10,423,990

Net Assets

$24,290,221

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$554,383	4.7%
Sales of Assets	$11,347,598	95.3%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$1,202,144	81.3%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$24,284,128
Total Liabilities	-$6,093
Net Assets	$24,290,221

990-PF

Primary tax return for a private foundation's activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2011

Revenue

$945,436

Expenses

$3,415,979

Net Income

-$2,470,543

Net Assets

$13,780,136

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$650,280	68.8%
Sales of Assets	$295,156	31.2%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$3,315,250	97.1%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$13,749,705
Total Liabilities	-$30,431
Net Assets	$13,780,136

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

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American Foundation Corporation

Organization summary

Type of Nonprofit

Summary charts: organization finances over time

Revenue $361k (2023)

Expenses $1.67M (2023)

Total Assets $22.1M (2023)

Total Liabilities $0 (2023)

Tax Filings by Year

Fiscal Year Ending Dec. 2023

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2022

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2021

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2020

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2019

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2018

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2017

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2016

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2015

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Document Links

990-PF

Fiscal Year Ending Dec. 2014

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Document Links

990-PF

Fiscal Year Ending Dec. 2013

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Document Links

990-PF

Fiscal Year Ending Dec. 2012

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Document Links

990-PF

Fiscal Year Ending Dec. 2011

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Revenue

$361k (2023)

Expenses

$1.67M (2023)

Total Assets

$22.1M (2023)

Total Liabilities

$0 (2023)

Fiscal Year Ending Dec.
2023

Fiscal Year Ending Dec.
2022

Fiscal Year Ending Dec.
2021

Fiscal Year Ending Dec.
2020

Fiscal Year Ending Dec.
2019

Fiscal Year Ending Dec.
2018

Fiscal Year Ending Dec.
2017

Fiscal Year Ending Dec.
2016

Fiscal Year Ending Dec.
2015

Fiscal Year Ending Dec.
2014

Fiscal Year Ending Dec.
2013

Fiscal Year Ending Dec.
2012

Fiscal Year Ending Dec.
2011

Fiscal Year Ending Dec.
2010

Fiscal Year Ending Dec.
2009

Fiscal Year Ending Dec.
2008

Fiscal Year Ending Dec.
2007

Fiscal Year Ending Dec.
2006

Fiscal Year Ending Dec.
2005

Fiscal Year Ending Dec.
2004

Fiscal Year Ending Dec.
2003

Fiscal Year Ending Dec.
2002

Fiscal Year Ending Dec.
2001