Mcdermott Fam Charitable Tr
- Assets
- $2.2m
- Revenue
- $183.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Tolland, CT
- Founding
- 01/2000
- Data as of
- 12/2023
- EIN
- 14-6198226
Organization Overview
Mcdermott Fam Charitable Tr is located in Tolland, CT. The organization was established in 2000. 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. Mcdermott Fam Charitable Tr 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, Mcdermott Fam Charitable Tr generated $183.6k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 68.5% each year . All expenses for the organization totaled $100.5k during the year ending 12/2023. While expenses have increased by 24.6% per year over the past 5 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 2020, Mcdermott Fam Charitable Tr has awarded 40 individual grants totaling $343,500. 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 |
|---|---|---|---|
William P Mcdermott President | 0 | $0 | |
Elieen Mcdermott Laramie Treasure | 0 | $0 | |
Kerry Wm Mcdermott Vice President | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $155,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $28,625 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $113,167 |
| Net ST Capital Gain | $28,151 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $183,625 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| 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 | $0 |
| Total operating and administrative expenses | $0 |
| Contributions, gifts, grants paid | $100,500 |
| Total expenses and disbursements | $100,500 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| 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 | $2,237,825 |
| Total assets | $2,237,825 |
| 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 | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Mcdermott Fam Charitable Tr has awarded $100,500 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
NEW HAMPSHIRE FOOD BANK PURPOSE: FOOD FOR NEEDY | $10,000 |
CONNECTICUT FOOD PANTRY PURPOSE: FOOD FOR NEEDY | $15,000 |
DANA FARBER CANCER INSTITUTE PURPOSE: CANCER RESEARCH | $15,000 |
COMMUNINTY ACTION PARTNERSHIPS PURPOSE: PROGRAM FOR NEEDY AMD HOMELESS | $10,000 |
CATHOLIC CHARITIES INC PURPOSE: SERVICES FOR THE HOMELESS | $18,000 |
DAV CHARITABLE SERVICE TRUST PURPOSE: DISABLED VETS PROGRAMS | $10,000 |