Maxwell M Corpening Jr Memorial Foundation
- Assets
- $591.7k
- Revenue
- $767.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Marion, NC
- Founding
- 12/1972
- Data as of
- 12/2022
- EIN
- 23-7201488
Organization Overview
Maxwell M Corpening Jr Memorial Foundation is located in Marion, NC. The organization was established in 1972. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Maxwell M Corpening Jr Memorial 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 12/2022, Maxwell M Corpening Jr Memorial Foundation generated $767.3k in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 6.1% each year. All expenses for the organization totaled $700.7k during the year ending 12/2022. While expenses have increased by 3.3% per year over the past 4 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 2020, Maxwell M Corpening Jr Memorial Foundation has awarded 798 individual grants totaling $1,745,729. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION SERVED 311 NEEDY INDIVIDUALS OF MCDOWELL COUNTY THROUGH DIRECT PAYMENT FOR SHELTER, UTILITIES, MEDICAL ASSISTANCE AND OTHER NECESSARY LIVING EXPENSES.
GRANT TO MAXWELL M. CORPENING, JR. MEMORIAL CENTER, INC. TO CONSTRUCT AND SUPPORT OPERATIONS OF YMCA TO BENEFIT ALL RESIDENTS OF MCDOWELL COUNTY.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Wooten Secretary/treasurer | 2 | $0 | |
Ricky Buchanan Chairman | 2 | $0 | |
Rev Robert Warren Vice Chairman | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $764,349 |
| Interest on Savings | $227 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $2,688 |
| Total Revenue | $767,264 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $14,733 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,127 |
| Depreciation | $363 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $846 |
| Printing and publications | $264 |
| Other expenses | $3,392 |
| Total operating and administrative expenses | $24,725 |
| Contributions, gifts, grants paid | $676,023 |
| Total expenses and disbursements | $700,748 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $591,505 |
| 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 | $0 |
| Net Land, buildings, and equipment | $151 |
| Other assets | $0 |
| Total assets | $591,656 |
| Accounts payable and accrued expenses | $1,063 |
| 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 | $1,063 |
Grants Awarded
Over the last fiscal year, Maxwell M Corpening Jr Memorial Foundation has awarded $676,023 in support to 313 organizations.
| Grant Recipient | Amount |
|---|---|
BOBBY DEAN KING JR PURPOSE: RENT | $475 |
JACKIE CARVER WYATT PURPOSE: RENT | $475 |
ADIA MEGHAN TONEY PURPOSE: RENT | $475 |
JUSTIN JERMAINE CARSON PURPOSE: HEATING FUEL | $406 |
RHONDA BATES CONDREY PURPOSE: RENT | $500 |
KENNETH W MARSHBURN PURPOSE: HEATING FUEL | $406 |