Mhg Foundation Inc
- Assets
- $3.7m
- Revenue
- $241.6k
- Investments
- $3.5m
- Employees
- 0
- Location
- Old Greenwich, CT
- Founding
- 03/2005
- Data as of
- 12/2022
- EIN
- 20-1993159
Organization Overview
Mhg Foundation Inc is located in Old Greenwich, CT. The organization was established in 2005. According to its NTEE Classification (T21) the organization is classified as: Corporate 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. Mhg 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 12/2022, Mhg Foundation Inc generated $241.6k 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 (13.7%) each year. All expenses for the organization totaled $253.7k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Mhg Foundation Inc has awarded 103 individual grants totaling $1,132,000. 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 |
|---|---|---|---|
Michael S Goldberg Co-President | 0 | $0 | |
Heather W Goldberg Co-President | 20 | $10,380 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $48,407 |
| Interest on Savings | $0 |
| Dividends & Interest | $151,502 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $41,727 |
| Capital Gain Net Income | $88,008 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $241,636 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $10,380 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $10,250 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $654 |
| Total operating and administrative expenses | $50,582 |
| Contributions, gifts, grants paid | $203,100 |
| Total expenses and disbursements | $253,682 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $159,110 |
| Savings and temporary cash investments | $101,531 |
| 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 | $1,497,176 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $3,745,617 |
| 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, Mhg Foundation Inc has awarded $203,100 in support to 15 organizations.
| Grant Recipient | Amount |
|---|---|
GREENWICH COUNTRY DAY SCHOOL PURPOSE: GENERAL FUND | $40,000 |
SOUNDWATERS PURPOSE: GENERAL FUND | $2,000 |
ABILIS PURPOSE: GENERAL FUND | $1,000 |
SCHOOL FOR FIELD STUDIES PURPOSE: GENERAL FUND | $500 |
NORTH CAROLINA OUTWARD BOUND SCHOOL PURPOSE: GENERAL FUND | $100 |
SEA EDUCATION ASSOCIATION PURPOSE: GENERAL FUND | $500 |