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Nonprofiteer
← ROBERT R MCCORMICK FOUNDATION

Form 990 for tax year 2024

Filed by ROBERT R MCCORMICK FOUNDATION.

Totals

Total revenue
$100,238,437
Total expenses
$39,107,282
Contributions and grants received
$33,458,970
Grants paid
$15,650
Program service revenue
$6,568,961
Investment income
$54,544,374
Other revenue
$5,666,132
Total assets, end of year
$547,019,809
Total liabilities, end of year
$69,255,647
Net assets or fund balances, end of year
$477,764,162
Program services expenses (Part IX)
$29,910,464
Management and general expenses
$9,196,818
Fundraising expenses
$0
Program service expenses (Part III)
$29,910,464

Program services were 76.5% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1d · Related organizations

    $33,451,760

  • 1f · All other contributions, gifts and grants

    $7,210

  • 2a · Program service revenue: GOLF AND GOLF ACADEMY

    total $4,663,222 · related or exempt $4,663,222

  • 2b · Program service revenue: PARK PROGRAMS & EVENTS

    total $1,090,155 · related or exempt $1,090,155

  • 2c · Program service revenue: MEMBER FEES & PARKING

    total $796,230 · related or exempt $796,230

  • 2d · Program service revenue: MUNICIPAL BOND REVENUE

    total $11,978 · related or exempt $11,978

  • 2f · All other program service revenue

    total $7,376 · related or exempt $7,376

  • 3 · Investment income

    total $12,660,905 · excluded $12,660,905

  • 6a · Gross rents

    real property $870,314

  • 6b · Less rental expenses

    real property $54,771

  • 6c · Rental income or loss

    real property $815,543

  • 6d · Net rental income or loss

    total $815,543 · excluded $815,543

  • 7a · Gross sales of assets other than inventory

    securities $245,678,983 · other assets $8,218

  • 7b · Less cost or other basis and sales expenses

    securities $203,803,732 · other assets $0

  • 7c · Gain or loss

    securities $41,875,251 · other assets $8,218

  • 7d · Net gain or loss

    total $41,883,469 · excluded $41,883,469

  • 10a · Gross sales of inventory

    $6,813,360

  • 10b · Cost of goods sold

    $1,992,206

  • 10c · Net income from sales of inventory

    total $4,821,154 · unrelated business $2,017,888 · excluded $2,803,266

  • 11a · Other revenue: KEMPER DEFERRED REV.

    total $11,522 · excluded $11,522

  • 11b · Other revenue: REBATE

    total $9,054 · excluded $9,054

  • 11d · All other revenue

    total $8,859 · excluded $8,859

  • 11e · Other revenue, total

    $29,435

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $15,650 · program services $15,650

  • 5 · Compensation of officers, directors and key employees

    total $1,040,166 · program services $466,253 · management and general $573,913

  • 7 · Other salaries and wages

    total $8,256,527 · program services $4,513,187 · management and general $3,743,340

  • 8 · Pension plan contributions

    total $1,218,750 · program services $639,203 · management and general $579,547

  • 9 · Other employee benefits

    total $1,756,197 · program services $1,018,414 · management and general $737,783

  • 10 · Payroll taxes

    total $704,150 · program services $445,105 · management and general $259,045

  • 11a · Fees: management

    total $7,301,641 · program services $7,301,641

  • 11b · Fees: legal

    total $90,334 · program services $21,209 · management and general $69,125

  • 11c · Fees: accounting

    total $87,884 · management and general $87,884

  • 11f · Fees: investment management

    total $139,283 · management and general $139,283

  • 11g · Fees: other

    total $4,711,519 · program services $3,365,991 · management and general $1,345,528

  • 12 · Advertising and promotion

    total $111,095 · program services $71,261 · management and general $39,834

  • 13 · Office expenses

    total $2,065,320 · program services $1,561,119 · management and general $504,201

  • 14 · Information technology

    total $290,638 · program services $13,754 · management and general $276,884

  • 16 · Occupancy

    total $1,495,352 · program services $1,290,694 · management and general $204,658

  • 17 · Travel

    total $232,950 · program services $139,475 · management and general $93,475

  • 19 · Conferences, conventions and meetings

    total $139,409 · program services $31,135 · management and general $108,274

  • 20 · Interest

    total $3,579,037 · program services $3,579,037

  • 22 · Depreciation, depletion and amortization

    total $5,208,524 · program services $5,208,524

  • 23 · Insurance

    total $579,070 · program services $154,075 · management and general $424,995

  • 24a · Other expenses: INCOME & EXCISE TAXES

    total $19,657 · program services $19,657

  • 24b · Other expenses: DUES & SUBSCRIPTIONS

    total $15,884 · program services $6,835 · management and general $9,049

  • 24e · All other expenses

    total $48,245 · program services $48,245

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $91,490 · end of year $36,190

  • 2 · Savings and temporary cash investments

    beginning of year $116,573,114 · end of year $102,196,868

  • 4 · Accounts receivable

    beginning of year $584,528 · end of year $299,579

  • 8 · Inventories for sale or use

    beginning of year $361,079 · end of year $288,016

  • 9 · Prepaid expenses and deferred charges

    beginning of year $835,932 · end of year $1,274,083

  • 10a · Land, buildings and equipment: cost or other basis

    $156,327,506

  • 10b · Land, buildings and equipment: accumulated depreciation

    $84,512,149

  • 10c · Land, buildings and equipment, net

    beginning of year $68,601,977 · end of year $71,815,357

  • 11 · Investments: publicly traded securities

    beginning of year $45,533,490 · end of year $89,257,925

  • 12 · Investments: other securities

    beginning of year $256,808,763 · end of year $270,207,667

  • 15 · Other assets

    beginning of year $8,433,255 · end of year $11,644,124

  • 17 · Accounts payable and accrued expenses

    beginning of year $9,918,610 · end of year $10,325,186

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $57,678,327 · end of year $57,714,473

  • 25 · Other liabilities

    beginning of year $933,860 · end of year $1,215,988

  • 27 · Net assets without donor restrictions

    beginning of year $428,453,832 · end of year $476,925,162

  • 28 · Net assets with donor restrictions

    beginning of year $839,000 · end of year $839,000

Mission and programs · 2024

Mission

OPERATES CANTIGNY PARK, GOLF, MCCORMICK HOUSE AND FIRST DIVISION MUSEUM IN WHEATON, ILLINOIS.

  • THE 500-ACRE CANTIGNY ESTATE INCLUDES MCCORMICK'S HOME AND GARDENS, WHICH HOST DOZENS OF PROGRAMS AND EVENTS ANNUALLY FOR MORE THAN 319,000 VISITORS; THE FIRST DIVISION MUSEUM, A MILITARY HISTORY MUSEUM THAT EDUCATES OVER 126,000 STUDENTS AND FAMILIES ON THE U.S. ARMY'S 1ST INFANTRY DIVISION, FROM WORLD WAR I TO PRESENT; AND CANTIGNY GOLF, A 27-HOLE PUBLIC GOLF COURSE, A 9-HOLE SHORT COURSE DESIGNED TO TRAIN JUNIOR GOLFERS, AND A GOLF ACADEMY AND LEARNING CENTER THAT THOUSANDS OF CHILDREN AND ADULTS ENJOY ANNUALLY.

    Expenses $29,910,464 · Grants $15,650 · Revenue $6,568,961

As filed on the 2024 return.

Listed in Part VII

  • Dennis Fitzsimons

    CHAIRMAN OF THE BOARD

    Total calculated
    $55,000
    From this org
    $27,500
    From related orgs
    $27,500
    Other
    $0
    Hours/week
    2 + 2 related

  • Lee Henderson

    DIRECTOR

    Total calculated
    $55,000
    From this org
    $27,500
    From related orgs
    $27,500
    Other
    $0
    Hours/week
    2 + 2 related

  • Mary K Lawler

    DIRECTOR (AS OF 06/24)

    Total calculated
    $55,000
    From this org
    $27,500
    From related orgs
    $27,500
    Other
    $0
    Hours/week
    2 + 2 related

  • Ruthellyn Musil

    DIRECTOR

    Total calculated
    $55,000
    From this org
    $27,500
    From related orgs
    $27,500
    Other
    $0
    Hours/week
    2 + 2 related

  • William McClean

    DIRECTOR

    Total calculated
    $55,000
    From this org
    $27,500
    From related orgs
    $27,500
    Other
    $0
    Hours/week
    2 + 2 related

  • Celena Roldan

    DIRECTOR

    Total calculated
    $55,000
    From this org
    $27,500
    From related orgs
    $27,500
    Other
    $0
    Hours/week
    2 + 2 related

  • Scott Smith

    DIRECTOR

    Total calculated
    $55,000
    From this org
    $27,500
    From related orgs
    $27,500
    Other
    $0
    Hours/week
    2 + 2 related

  • Timothy Knight

    PRESIDENT & CHIEF EXECUTIVE OFFICER

    Total calculated
    $868,623
    From this org
    $242,705
    From related orgs
    $566,311
    Other
    $59,607
    Hours/week
    12 + 28 related

    Schedule J breakdown matched by us

    Base
    $234,620 + $547,446 related
    Bonus
    $0
    Other
    $8,085 + $18,865 related
    Deferred
    $16,171 + $37,733 related
    Nontaxable benefits
    $1,711 + $3,992 related
    Filer's total
    $260,587 + $608,036 related

  • Carla Beal

    CIO & TREASURER

    Total calculated
    $633,360
    From this org
    $115,689
    From related orgs
    $462,758
    Other
    $54,913
    Hours/week
    8 + 32 related

    Schedule J breakdown matched by us

    Base
    $112,699 + $450,798 related
    Bonus
    $0
    Other
    $2,990 + $11,960 related
    Deferred
    $10,042 + $40,168 related
    Nontaxable benefits
    $941 + $3,762 related
    Filer's total
    $126,672 + $506,688 related

  • Andres Torres - Vp-Strategy

    PLANNING & OPS./SEC.

    Total calculated
    $359,530
    From this org
    $122,133
    From related orgs
    $183,199
    Other
    $54,198
    Hours/week
    16 + 24 related

    Schedule J breakdown matched by us

    Base
    $113,513 + $170,269 related
    Bonus
    $0
    Other
    $8,620 + $12,930 related
    Deferred
    $20,099 + $30,148 related
    Nontaxable benefits
    $1,580 + $2,371 related
    Filer's total
    $143,812 + $215,718 related

  • Oscar Regalado

    VP-HUMAN RESOURCES

    Total calculated
    $328,990
    From this org
    $112,633
    From related orgs
    $168,951
    Other
    $47,406
    Hours/week
    16 + 24 related

    Schedule J breakdown matched by us

    Base
    $103,387 + $155,081 related
    Bonus
    $0
    Other
    $9,246 + $13,870 related
    Deferred
    $17,035 + $25,553 related
    Nontaxable benefits
    $1,927 + $2,891 related
    Filer's total
    $131,595 + $197,395 related

  • Matthew Lafond

    EXECUTIVE DIRECTOR, CANTIGNY PARK

    Total calculated
    $244,078
    From this org
    $206,242
    From related orgs
    $0
    Other
    $37,836
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $191,292
    Bonus
    $0
    Other
    $14,950
    Deferred
    $33,133
    Nontaxable benefits
    $4,703
    Filer's total
    $244,078

  • Jess Jose

    DIRECTOR, IT STRATEGY

    Total calculated
    $234,512
    From this org
    $198,336
    From related orgs
    $0
    Other
    $36,176
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $198,336
    Bonus
    $0
    Other
    $0
    Deferred
    $32,775
    Nontaxable benefits
    $3,401
    Filer's total
    $234,512

  • Akaose Kachikwu

    DIRECTOR, IT INFRASTRUCT. & SECURITY

    Total calculated
    $218,602
    From this org
    $182,770
    From related orgs
    $0
    Other
    $35,832
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $182,770
    Bonus
    $0
    Other
    $0
    Deferred
    $29,459
    Nontaxable benefits
    $6,373
    Filer's total
    $218,602

  • Ernetta Roper

    CONTROLLER

    Total calculated
    $214,738
    From this org
    $147,089
    From related orgs
    $36,772
    Other
    $30,877
    Hours/week
    32 + 8 related

    Schedule J breakdown matched by us

    Base
    $137,089 + $34,272 related
    Bonus
    $10,000 + $2,500 related
    Other
    $0
    Deferred
    $20,444 + $5,111 related
    Nontaxable benefits
    $4,258 + $1,064 related
    Filer's total
    $171,791 + $42,947 related

  • Edward Holzman

    DIRECTOR, FACILITIES

    Total calculated
    $230,647
    From this org
    $165,352
    From related orgs
    $0
    Other
    $65,295
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $165,352
    Bonus
    $0
    Other
    $0
    Deferred
    $25,823
    Nontaxable benefits
    $39,472
    Filer's total
    $230,647

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Housing allowance or residence for personal use
  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

SCHEDULE J, PART I, LINE 1A:
IN AN EFFORT TO PROMOTE A HEALTHY LIFESTYLE, REIMBURSEMENT OF A PERCENTAGE OF HEALTH CLUB DUES AND INITIATION FEES (WITHIN CERTAIN LIMITS) IS A TAXABLE BENEFIT AVAILABLE TO ALL BENEFIT-ELIGIBLE EMPLOYEES OF THE FOUNDATION. IN 2024, THE CEO & PRESIDENT WAS REIMBURSED FOR SOCIAL CLUB DUES AS THEY RELATED TO FOUNDATION BUSINESS IN ACCORDANCE WITH FOUNDATION POLICY. THE REIMBURSEMENTS WERE NOT TREATED AS TAXABLE COMPENSATION. AS PART OF THE 500 ACRE ESTATE'S MAINTENANCE AND SECURITY PLAN, THE CANTIGNY FOUNDATION PROVIDES HOUSING FOR CERTAIN POSITIONS. BOARD MANDATED RESIDENCY OF THESE POSITIONS IS AN INTEGRAL PART OF THE SECURITY PLAN. THE VALUE OF THIS HOUSING FOR 2024 FOR EDWARD HOLZMAN, DIRECTOR OF FACILITY SERVICES, WAS $31,700. THE REIMBURSEMENT WAS NOT TREATED AS TAXABLE COMPENSATION.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2024
Filed
13 November 2025
IRS schema version
2024v5.2
Source object
202543219349301944

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