Skystone Foundation Inc

Overview

Skystone Foundation Inc is a private foundation that operates in the United States. Originally established in 1979 under the name Turrell Foundation, it was later renamed to Skystone Foundation in 1982. The foundation is designated as a tax-exempt entity under the Internal Revenue Service (IRS) classifications, allowing donations to be tax-deductible[1].

Financials

Skystone Foundation's financial activities over the years have shown significant fluctuations in both revenue and asset growth. As of its most recent reporting, the foundation holds substantial assets, with total assets reported at $86.3 million in the fiscal year ending June 2023[1]. The majority of its revenue comes from contributions, with approximately 97% of its income in the fiscal year ending June 2023 derived from this source[1]. Expenses are relatively low, focusing primarily on charitable disbursements, which constituted about 54.4% of expenses in the same period[1].

Grantmaking Activities

Recent data indicates that Skystone Foundation did not award any grants in the fiscal year ending June 2023[3]. This trend may vary from previous years, depending on the foundation's strategic priorities and available resources.

Governance

Currently, there is no detailed information available about the governing board members of the Skystone Foundation[4]. Governance practices and leadership structures are important components of nonprofit management but may not be publicly disclosed by all organizations.

Historical Background

Skystone Foundation has a history dating back to its inception as Turrell Foundation in 1979, reflecting a commitment to supporting specific causes over the decades since its founding. The change in name to Skystone Foundation in 1982 suggests an evolution in focus or mission, although specific details about these changes are not readily available.

[1] https://projects.propublica.org/nonprofits/organizations/942842873 [2] https://www.causeiq.com/organizations/skystone-foundation,942842873/ [3] https://www.instrumentl.com/990-report/skystone-foundation-inc [4] https://www.guidestar.org/profile/94-2842873 [5] https://projects.propublica.org/nonprofits/organizations/942842873/202141349349102969/full