Friends Of Mcgill University Inc
- Assets
- $10.8m
- Revenue
- $8.0m
- Investments
- $0.0
- Employees
- 0
- Location
- New Rochelle, NY
- Founding
- 05/1948
- Data as of
- 05/2022
- EIN
- 23-7054819
Organization Overview
Friends Of Mcgill University Inc is located in New Rochelle, NY. The organization was established in 1948. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Friends Of Mcgill University 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 05/2022, Friends Of Mcgill University Inc generated $8.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 17.0% each year . All expenses for the organization totaled $7.6m during the year ending 05/2022. While expenses have increased by 15.9% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ADVANCE EDUCATION AND MAKE GRANTS FOR CHARITABLE AND EDUCATIONAL PURPOSES
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION ADVANCES EDUCATION THROUGH GRANTS. THE GRANTS WERE FOR CHARITABLE PURPOSES TO THE ROYAL INSTITUTION FOR THE ADVANCEMENT OF LEARNING ALSO KNOWN AS MCGILL UNIVERSITY EIN 98-6001153. THE GRANTS MADE TO MCGILL UNIVERSITY WERE FOR GENERAL EDUCATIONAL PURPOSES.
DONATIONS OF 25,000 TO MONTREAL GENERAL HOSPITAL 13,000 TO MONTREAL CHILDREN'S HOSPITAL AND 36,840 TO THE CEDAR CANCER FOUNDATION GIVEN FOR CHARITABLE PURPOSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jordan Waxman President | Officer | 5 | $0 |
David C Mccutcheon Vice-Pres/tr | Officer | 10 | $0 |
George G Marini Asst Treasur | Officer | 2 | $0 |
Anton Angelich Secretary | Officer | 2 | $0 |
Marc-Andre Chiffert Asst Secreta | Officer | 2 | $0 |
Arthur L Coleman III Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $666,767 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,139,782 |
| Noncash contributions included in lines 1a–1f | $926,514 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,806,549 |
| Total Program Service Revenue | $0 |
| Investment income | $281,547 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,084 |
| Net Income from Fundraising Events | -$63,063 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,029,117 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $7,523,644 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $633 |
| Fees for services: Accounting | $38,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $37,500 |
| Advertising and promotion | $0 |
| Office expenses | $10,493 |
| Information technology | $2,550 |
| 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 | $3,255 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,901 |
| All other expenses | $0 |
| Total functional expenses | $7,640,957 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $868,474 |
| Savings and temporary cash investments | $480,612 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $154,686 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $9,270,994 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $10,774,766 |
| Accounts payable and accrued expenses | $37,177 |
| Grants payable | $147,207 |
| Deferred revenue | $0 |
| 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 | $0 |
| Total liabilities | $184,384 |
| Net assets without donor restrictions | $1,836,732 |
| Net assets with donor restrictions | $8,753,650 |
| 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 | $10,774,766 |
Grants Recieved
Over the last fiscal year, we have identified 12 grants that Friends Of Mcgill University Inc has recieved totaling $1,626,182.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $1,196,730 |
National Charitable Endowment Inc Darien, CT PURPOSE: GENERAL CHARITABLE USE | $250,000 |
Muskegon County Community Foundation Muskegon, MI PURPOSE: TO ESTABLISH THE CAROL MCLEOD FACULTY AWARD IN RENEWABLE ENERGY AND ENERGY EFFICIENCY | $50,000 |
Morgan Stanley Global Impact Funding Trust Inc Indianapolis, IN PURPOSE: UNRESTRICTED GENERAL SUPPORT | $35,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $26,347 |
United Way Miami Inc Miami, FL PURPOSE: GENERAL FUNDS | $24,800 |
Endowment Analysis
| Beg. Balance | $9,742,766 |
| Earnings | -$671,617 |
| Admin Expense | $44,224 |
| Grants | $280,275 |
| Ending Balance | $8,746,650 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Hunter College Foundation Inc New York, NY | $144,509,988 | $37,248,838 |
The American Friends Of Winchester College New York, NY | $259,900 | $15,435,931 |
Friends Of@ascend Charter Schools Inc Brooklyn, NY | $51,013,536 | $16,135,870 |
Rowan University Foundation Inc Glassboro, NJ | $339,808,677 | $39,224,287 |
Equitable Facilities Fund Inc New York, NY | $843,754,758 | $34,535,002 |
Dudley Square Realty Corporation Boston, MA | $98,074,702 | $123 |
Stockton Affiliated Services Inc Galloway, NJ | $3,017,488 | $12,674,409 |
Auxiliary Campus Enterprises And Services State University College Alfred, NY | $11,814,689 | $16,740,654 |
College Of Staten Island Auxiliary Services Corp Inc Staten Island, NY | $62,695,629 | $9,780,570 |
American Friends Of The National Gallery London Inc New York, NY | $305,852,204 | $2,300,126 |
Auxiliary Services Corporation Of Suny Cortland Cortland, NY | $19,099,097 | $10,450,642 |
The Roosevelt Institute New York, NY | $39,947,474 | $14,561,739 |