Mhg Foundation Inc
- Assets
- $3.8m
- Revenue
- $984.2k
- Investments
- $3.6m
- Employees
- 0
- Location
- Old Greenwich, CT
- Founding
- 03/2005
- Data as of
- 12/2021
- 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 12/2021, Mhg Foundation Inc generated $984.2k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.2% each year . All expenses for the organization totaled $223.4k during the year ending 12/2021. While expenses have increased by 8.0% 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 2016, Mhg Foundation Inc has awarded 88 individual grants totaling $928,900. 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 |
|---|---|---|---|
Heather W Goldberg Co-President | 20 | $13,612 | |
Michael S Goldberg Co-President | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $350,281 |
| Interest on Savings | $9 |
| Dividends & Interest | $120,044 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $513,854 |
| Capital Gain Net Income | $513,854 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $984,188 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $13,612 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,944 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $5,627 |
| Total operating and administrative expenses | $51,669 |
| Contributions, gifts, grants paid | $171,700 |
| Total expenses and disbursements | $223,369 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $108,288 |
| 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 | $3,649,375 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $3,757,663 |
| 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 $171,700 in support to 15 organizations.
| Grant Recipient | Amount |
|---|---|
BOSTON COLLEGE PURPOSE: GENERAL FUND | $67,000 |
BOSTON CHILDREN HOSP TRUST PURPOSE: GENERAL FUND | $60,000 |
THE GREENWICH COUNTRY DAY SCHOOL PURPOSE: GENERAL FUND | $35,000 |
Stamford, CT PURPOSE: GENERAL FUND | $2,000 |
GREENWICH POINT CONSERVANCY PURPOSE: GENERAL FUND | $1,000 |
New Canaan, CT PURPOSE: GENERAL FUND | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Peoples United Community Foundation Bridgeport, CT | $0 | $2,660,856 |
Goldman Sachs Foundation New York, NY | $0 | $131,861,636 |
Commonwealth Fund New York, NY | $0 | $69,444,117 |
Clark Foundation New York, NY | $443,485,871 | $14,281,811 |
John A Hartford Foundation New York, NY | $722,012,839 | $47,164,108 |
Blackstone Charitable Foundation New York, NY | $141,651,293 | $22,568,243 |
Oneworld Boston Inc Woburn, MA | $219,473,176 | $23,349,707 |
Deloitte Foundation Stamford, CT | $61,773,232 | $17,876,963 |
Interlaken Foundation Inc NEW YORk, NY | $351,082,390 | $62,213,890 |
Massmutual Foundation Inc Springfield, MA | $16,295,000 | $8,380,000 |
Brooklyn Community Foundation Brooklyn, NY | $117,862,940 | $42,787,989 |
The@macmillan Family Foundation Inc New York, NY | $313,323,783 | $55,336,840 |