Frank Mchugh-Odonovan Foundation Inc
- Assets
- $66.5m
- Revenue
- $6.3m
- Investments
- $48.9m
- Employees
- 0
- Location
- Wilmington, DE
- Founding
- 08/2004
- Data as of
- 12/2021
- EIN
- 20-0842449
Organization Overview
Frank Mchugh-Odonovan Foundation Inc is located in Wilmington, DE. The organization was established in 2004. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Frank Mchugh-Odonovan 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 12/2021, Frank Mchugh-Odonovan Foundation Inc generated $6.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $6.3m during the year ending 12/2021. While expenses have increased by 12.9% per year over the past 7 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 2014, Frank Mchugh-Odonovan Foundation Inc has awarded 245 individual grants totaling $21,023,988. 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 |
|---|---|---|---|
Celina Mchugh Dir | 1 | $0 | |
Frank Mchugh Ceo, Dir | 1 | $0 | |
Patricia Mchugh Dir | 1 | $0 | |
Theresa M Mchugh Dir, Sec | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Wells Fargo | 12/30/21 | $169,475 |
Morgan Stanley | 12/30/21 | $172,202 |
Foundation Source | 12/30/21 | $126,264 |
Schorr Law Apc | 12/30/21 | $76,618 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $6,048 |
| Dividends & Interest | $1,070,100 |
| Net Rental Income | -$67,848 |
| Net Gain on Sale of Assets | $4,197,186 |
| Capital Gain Net Income | $4,197,186 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $182,382 |
| Total Revenue | $6,305,373 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $1,196 |
| Taxes | $429,867 |
| Depreciation | $213,280 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $402,614 |
| Total operating and administrative expenses | $1,539,405 |
| Contributions, gifts, grants paid | $4,758,330 |
| Total expenses and disbursements | $6,297,735 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,790,755 |
| 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 | $13,797,183 |
| Investments—mortgage loans | $4,003,331 |
| Investments—other | $4,787,284 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $66,485,579 |
| 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 | $41,706 |
| Total liabilities | $41,706 |
Grants Awarded
Over the last fiscal year, Frank Mchugh-Odonovan Foundation Inc has awarded $4,758,330 in support to 43 organizations.
| Grant Recipient | Amount |
|---|---|
ST GENEVIEVE HIGH SCHOOL PURPOSE: PHASE 1 CAMPUS MASTER PLAN PROJECT INCLUDING THE CENTER FOR PERFORMING ARTS COMPLEX AND FELLOWSHIP CENTER CONSTRUCTION PROJECT | $1,000,000 |
NATURE CONSERVANCY PURPOSE: THE TEHACHAPI WILDLIFE CORRIDOR | $439,250 |
Washington, DC PURPOSE: INDIA COVID-19 RELIEF FUND AND AFGHANISTAN EMERGENCY FUND | $300,000 |
Los Angeles, CA PURPOSE: WISHING TREE PARK | $300,000 |
SAN GABRIEL PASTORAL REGION PURPOSE: GENERAL & UNRESTRICTED | $270,000 |
SACRED HEART HIGH SCHOOL PURPOSE: GYM AND STUDENT ACTIVITIES CENTER | $250,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Stadler Family Charitable Foundation Inc Titusville, NJ | $29,757,304 | $26,067,204 |
The Grateful Lives Foundation Wilmington, DE | $671,624,478 | $48,426,740 |
Lenfest Foundation Inc Philadelphia, PA | $0 | $560,962 |
Crystal Trust Ua Dtd 12-25-47 Irenee Dupont Jr Ttee Montchanin, DE | $288,226,063 | $32,506,410 |
Morgridge Family Foundation Wilmington, DE | $205,419,134 | $22,580,458 |
GDS Legacy Foundation Inc Wilmington, DE | $0 | $575,846 |
De Beaumont Foundation Inc Bethesda, MD | $183,698,152 | $47,357,470 |
Foundation For The Greatest Good Fulton, MD | $11,551,864 | $19,462,876 |
Young Mens Christian Association Of The Chesapeake Inc Easton, MD | $84,208,847 | $28,289,184 |
Living Legacy Foundation Wilmington, DE | $129,501,628 | $9,577,224 |
The Healey International Relief Foundation Inc Lumberton, NJ | $326,937 | $11,415,022 |
Zachary Smith Reynolds Trust Pittsburgh, PA | $187,892,547 | $20,789,622 |