Eugene Mcdermott Foundation
- Assets
- $210.9m
- Revenue
- $12.2m
- Investments
- $209.2m
- Employees
- 0
- Location
- Dallas, TX
- Founding
- 11/1972
- Data as of
- 08/2023
- EIN
- 23-7237919
Organization Overview
Eugene Mcdermott Foundation is located in Dallas, TX. 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. Eugene Mcdermott 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 08/2023, Eugene Mcdermott Foundation generated $12.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (39.5%) each year. All expenses for the organization totaled $21.9m during the year ending 08/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Eugene Mcdermott Foundation has awarded 393 individual grants totaling $67,670,400. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
NA
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary Mcdermott Cook Pres Trustee | 10 | $0 | |
J H Cullum Clark Trustee | 1 | $0 | |
Patricia Brown Assistant Sec | 20 | $0 | |
Sam Self Trustee | 1 | $0 | |
Liza Lee Trustee | 1 | $0 | |
Joe Hubach Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ch Investment Partners | 8/30/22 | $336,004 |
Bank Of America Private Bank | 8/30/22 | $265,820 |
Ubs Financial Services Inc | 8/30/22 | $144,601 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $7,465,685 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $4,747,376 |
| Capital Gain Net Income | $4,747,376 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $12,213,061 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $34,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $424 |
| Taxes | $230,891 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $1,326,497 |
| Contributions, gifts, grants paid | $20,532,900 |
| Total expenses and disbursements | $21,859,397 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,213 |
| Savings and temporary cash investments | $1,722,020 |
| 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 | $30,910,543 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $210,882,052 |
| 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, Eugene Mcdermott Foundation has awarded $20,532,900 in support to 115 organizations.
| Grant Recipient | Amount |
|---|---|
AFRICAN AMERICAN MUSEUM PURPOSE: FOR MASQUERADE CABARET | $20,000 |
AFRICAN AMERICAN MUSEUM PURPOSE: FOR GALA OCTOBER 2023 | $10,000 |
AFTER-SCHOOL ALL-STARS NORTH TEXAS PURPOSE: FOR PROGRAMS | $10,000 |
ALLEN PHILHARMONIC SYMPHONY INC PURPOSE: FOR PROGRAMS | $5,000 |
ALS ASSOCIATION TEXAS CHAPTER PURPOSE: FOR 2023 WALK - TEAM MICHAEL | $75,000 |
ALS ASSOCIATION TEXAS CHAPTER PURPOSE: FOR OPERATIONS IN MEMORY OF MICHAL DAVIDOFF | $25,000 |