Midland Foundation
- Assets
- $2.6m
- Revenue
- $665.8k
- Investments
- $0.0
- Employees
- 3
- Location
- North Branch, NJ
- Founding
- 04/1985
- Data as of
- 06/2022
- EIN
- 22-2424471
Organization Overview
Midland Foundation is located in North Branch, NJ. The organization was established in 1985. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 06/2022, Midland Foundation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Midland 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 06/2022, Midland Foundation generated $665.8k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.3%) each year. All expenses for the organization totaled $660.3k during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Midland Foundation has awarded 16 individual grants totaling $3,136,619. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MIDLAND FOUNDATION RAISES FUNDS TO SUPPORT THE PROGRAMS AND SERVICES OF THE MIDLAND CORPORATION. MIDLAND PROVIDES A LIFETIME OF CARING FOR INDIVIVUALS WITH INTELLECTUAL AND DEVELOPMENTAL DISABILITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO HELP FOSTER THE EDUCATIONAL AND CHARITABLE PURPOSES OF MIDLAND SCHOOL, INC. AND MIDLAND ADULT SERVICES, INC.; TO AFFIRM FINANCIAL SUPPORT FOR THE IMPROVEMENT AND GROWTH OF THE MIDLAND PROGRAMS AND, THROUGH SOLICITATION OF THE COMMUNITY, PROMOTE THE GOODWILL AND WELFARE OF THE DEVELOPMENTALLY DISABLED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gregg Sweetman Financial Direc | Officer | 40 | $0 |
Shawn Mcinerney President/ceo | Officer | 40 | $0 |
Gail Russell Dev. Director | 40 | $110,575 | |
Stacey Carr Secretary | Officer | 40 | $0 |
Geoffrey K Allen Chairman | OfficerTrustee | 1 | $0 |
Christopher Bateman ESQ Trustee | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $196,181 |
| Related organizations | $0 |
| Government grants | $36,795 |
| All other contributions, gifts, grants, and similar amounts not included above | $322,115 |
| Noncash contributions included in lines 1a–1f | $9,874 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $555,091 |
| Total Program Service Revenue | $0 |
| Investment income | $94,182 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$432 |
| Net Income from Fundraising Events | $16,962 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $665,803 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $370,367 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $110,575 |
| Compensation of current officers, directors, key employees. | $36,490 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $68,951 |
| Pension plan accruals and contributions | $8,062 |
| Other employee benefits | $20,921 |
| Payroll taxes | $14,361 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $18,323 |
| Advertising and promotion | $0 |
| Office expenses | $15,110 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,500 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $4,844 |
| All other expenses | $0 |
| Total functional expenses | $660,268 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $369,184 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $108,299 |
| Accounts receivable, net | $6,713 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $14,998 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $2,072,332 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $20,028 |
| Total assets | $2,591,554 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $35,806 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $302,201 |
| Total liabilities | $338,007 |
| Net assets without donor restrictions | $2,213,955 |
| Net assets with donor restrictions | $39,592 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,591,554 |
Grants Awarded
Over the last fiscal year, Midland Foundation has awarded $370,367 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
MIDLAND SCHOOL PURPOSE: SEE FORM 990 PAGE 2 LINE 4a | $167,724 |
MIDLAND ADULT SERVICES PURPOSE: SEE FORM 990 PAGE 2 LINE 4a | $202,643 |