The Jose M Garcia Foundation Inc
- Assets
- $6.8m
- Revenue
- $358.4k
- Investments
- $5.7m
- Employees
- 0
- Location
- Hilton Head Island, SC
- Founding
- 12/1995
- Data as of
- 10/2023
- EIN
- 22-3369956
Organization Overview
The Jose M Garcia Foundation Inc is located in Hilton Head Island, SC. The organization was established in 1995. According to its NTEE Classification (P58) the organization is classified as: Gift Distribution, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Jose M Garcia 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 10/2023, Jose M Garcia Foundation Inc generated $358.4k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.6% each year. All expenses for the organization totaled $611.9k during the year ending 10/2023. While expenses have increased by 1.4% per year over the past 8 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 2015, Jose M Garcia Foundation Inc has awarded 108 individual grants totaling $3,592,875. 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 |
|---|---|---|---|
Gordon D Meyer Vice Preside | 2.5 | $13,000 | |
Donald H Quinn President | 2.5 | $13,000 | |
Laura Figueroa Secretary/tr | 1.5 | $13,000 | |
Jorge Corominal Assistant Se | 0.5 | $13,000 | |
Ella Glover Vice Preside | 0.5 | $13,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $60,638 |
| Net Rental Income | $270,375 |
| Net Gain on Sale of Assets | $5,068 |
| Capital Gain Net Income | $5,068 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $358,375 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $65,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $39,216 |
| Taxes | $22,988 |
| Depreciation | $10,110 |
| Occupancy | $3,000 |
| Travel, conferences, and meetings | $1,632 |
| Printing and publications | $0 |
| Other expenses | $18,543 |
| Total operating and administrative expenses | $229,579 |
| Contributions, gifts, grants paid | $382,272 |
| Total expenses and disbursements | $611,851 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $163,785 |
| 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 | $763,906 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $196,844 |
| Total assets | $6,841,778 |
| Accounts payable and accrued expenses | $32,932 |
| 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 | $827,697 |
| Total liabilities | $860,629 |
Grants Awarded
Over the last fiscal year, The Jose M Garcia Foundation Inc has awarded $365,000 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
CHRISTIAN HEALTH CARE CENTER PURPOSE: GENERAL OPERATING | $18,000 |
FRONTIER HARVEST MINISTRIES PURPOSE: GENERAL OPERATING | $5,000 |
HERITAGE LIBRARY FOUNDATION INC PURPOSE: GENERAL OPERATING | $15,500 |
HOPE CHRISTIAN SERVICES PURPOSE: GENERAL OPERATING | $9,500 |
MARION MEDICAL MISSION PURPOSE: GENERAL OPERATING | $6,000 |
MASONIC CHARITY FOUNDATION PURPOSE: GENERAL OPERATING | $73,000 |