Michael J Mungo Foundation Inc
- Assets
- $33.2m
- Revenue
- $3.9m
- Investments
- $30.9m
- Employees
- 0
- Location
- Irmo, SC
- Founding
- 12/2008
- Data as of
- 12/2023
- EIN
- 13-4203429
Organization Overview
Michael J Mungo Foundation Inc is located in Irmo, SC. The organization was established in 2008. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Michael J Mungo Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Michael J Mungo Foundation Inc generated $3.9m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 15.7% each year . All expenses for the organization totaled $2.5m during the year ending 12/2023. While expenses have increased by 11.5% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Michael J Mungo Foundation Inc has awarded 335 individual grants totaling $10,529,198. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert C Clawson Director | 0 | $0 | |
M Stewart Mungo President & | 0 | $0 | |
Steven W Mungo Vice-Preside | 0 | $0 | |
Beth Deridder Manager & Se | 0 | $61,496 | |
Matthew Mungo Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $4,291 |
| Dividends & Interest | $806,789 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $3,038,733 |
| Capital Gain Net Income | $3,038,733 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $3,392 |
| Total Revenue | $3,853,205 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $61,496 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $220,585 |
| Total operating and administrative expenses | $286,581 |
| Contributions, gifts, grants paid | $2,173,941 |
| Total expenses and disbursements | $2,460,522 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,234,708 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $33,162,964 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $1,208,964 |
| Total liabilities | $1,208,964 |
Grants Awarded
Over the last fiscal year, Michael J Mungo Foundation Inc has awarded $2,173,941 in support to 48 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN CANCER SOCIETY PURPOSE: OPERATING COSTS | $100,000 |
AMERICAN RED CROSS PURPOSE: OPERATING COSTS | $10,000 |
CAROLINA WILDLIFE CARE PURPOSE: OPERATING COSTS | $5,000 |
CENTRAL CAROLINA COMM FOUNDATION PURPOSE: SALUDA SHOALS PARK/MICHAEL'S GARDEN | $350,000 |
CFMA PURPOSE: OPERATING COSTS | $10,000 |
COLUMBIA MUSEUM OF ART PURPOSE: OPERATING COSTS | $10,000 |