Montrose Foundation Inc
- Assets
- $4.7m
- Revenue
- $2.0m
- Investments
- $4.4m
- Employees
- 0
- Location
- Hillsborough, NC
- Founding
- 06/2016
- Data as of
- 12/2023
- EIN
- 26-1127627
Organization Overview
Montrose Foundation Inc is located in Hillsborough, NC. The organization was established in 2016. According to its NTEE Classification (T23) the organization is classified as: Private Operating 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. Montrose 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 12/2023, Montrose Foundation Inc generated $2.0m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 67.7% each year . All expenses for the organization totaled $340.2k during the year ending 12/2023. While expenses have increased by 7.3% per year over the past 5 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRESERVING HISTORIC MONTROSE GARDENS, EDUCATING THE PUBLIC THROUGH TOURS & LECTURES, PLANT PROPAGATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Catherine Dykes President | 0 | $3,473 | |
Nancy S Goodwin Sec/treas | 0 | $0 | |
Mary Banks Knechtle Director | 0 | $0 | |
Ellie Meade Director | 0 | $0 | |
Elizabeth Woodman Director | 0 | $0 | |
Schatzie Crowther Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,839,759 |
| Interest on Savings | $0 |
| Dividends & Interest | $122,677 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $43,629 |
| Capital Gain Net Income | $43,629 |
| Net ST Capital Gain | $43,629 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $28,826 |
| Total Revenue | $2,034,891 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $3,473 |
| Other employee salaries and wages | $225,757 |
| Pension plans, employee benefits | $18,940 |
| Interest | $0 |
| Taxes | $3,499 |
| Depreciation | $13,016 |
| Occupancy | $14,145 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $49,743 |
| Total operating and administrative expenses | $340,168 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $340,168 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $118,734 |
| Savings and temporary cash investments | $104,815 |
| 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 | $4,933 |
| Other assets | $0 |
| Total assets | $4,657,580 |
| 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 | $170 |
| Total liabilities | $170 |