The Jack M Matthews Foundation
- Assets
- $0.0
- Revenue
- $130.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Galax, VA
- Founding
- 01/2004
- Data as of
- 12/2021
- EIN
- 20-0189021
Organization Overview
The Jack M Matthews Foundation is located in Galax, VA. The organization was established in 2004. According to its NTEE Classification (C34) the organization is classified as: Land Resources Conservation, under the broad grouping of Environment and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Jack M Matthews Foundation 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 12/2021, Jack M Matthews Foundation generated $130.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.5%) each year. All expenses for the organization totaled $196.9k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (14.0%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Jack M Matthews Foundation has awarded 97 individual grants totaling $6,141,067. 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOUNDATION ENTERED INTO AN AGREEMENT WITH THE VIRGINIA DEPARTMENT OF FORESTRY FOR CONSULTATION TO CONDUCT A THOROUGH MANAGEMENT ASSESSMENT AND TO DEVELOP A LONG-RANGE PLAN FOR CARRYING OUT THE CHARITABLE AND EDUCATIONAL PURPOSES OF THE FOUNDATION.
FOUNDATION INCURRED EXPENDITURES TO PAY FOR ADMINISTRATIVE AND OPERATING COSTS OF MAINTAINING THE FOUNDATION'S ASSETS USED IN ITS CHARITABLE ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John W Bolen Jr Trustee | 0 | $0 | |
James M Baxley Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $242 |
| Dividends & Interest | $96,502 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $39,386 |
| Capital Gain Net Income | $2,271 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | -$5,325 |
| Total Revenue | $130,805 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $485 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $27,604 |
| Total operating and administrative expenses | $37,752 |
| Contributions, gifts, grants paid | $159,130 |
| Total expenses and disbursements | $196,882 |
| 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 | $0 |
| Total assets | $0 |
| 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, The Jack M Matthews Foundation has awarded $159,130 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
CARROLL COUNTY FOUNDATION PURPOSE: COLLEGE SCHOLARSHIP | $3,000 |
NEW RIVER HILL FARM PURPOSE: PURCHASE A TRACTOR | $12,800 |
BLUE RIDGE DISCOVERY CENTER PURPOSE: SUPPORT FOR EDUCATIONAL PROGRAMS | $50,000 |
GALAX FOUNDATION FOR EXCELLENCE I PURPOSE: COLLEGE SCHOLARSHIP | $3,000 |
GRAYSON COUNTY SCHOLARSHIP PURPOSE: COLLEGE SCHOLARSHIP | $3,000 |
GRAYSON LANDCARE PURPOSE: SUPPORT FOR ORGANIZATION | $25,000 |