Patrick M Mccarthy Foundation Inc
- Assets
- $9.3m
- Revenue
- $1.5m
- Investments
- $8.7m
- Employees
- 0
- Location
- Indian Wells, CA
- Founding
- 08/2008
- Data as of
- 12/2022
- EIN
- 26-2804772
Organization Overview
Patrick M Mccarthy Foundation Inc is located in Indian Wells, CA. The organization was established in 2008. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Patrick M Mccarthy 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 12/2022, Patrick M Mccarthy Foundation Inc generated $1.5m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 39.6% each year . All expenses for the organization totaled $738.7k during the year ending 12/2022. While expenses have increased by 6.9% 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, Patrick M Mccarthy Foundation Inc has awarded 62 individual grants totaling $1,607,116. 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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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $41,540 |
| Dividends & Interest | $273,088 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,166,695 |
| Capital Gain Net Income | $1,112,950 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,481,323 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $58 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $2,434 |
| Total operating and administrative expenses | $103,299 |
| Contributions, gifts, grants paid | $635,360 |
| Total expenses and disbursements | $738,659 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $586,351 |
| 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 | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $9,298,261 |
| 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, Patrick M Mccarthy Foundation Inc has awarded $635,360 in support to 27 organizations.
| Grant Recipient | Amount |
|---|---|
RANCHO MIRAGE LIBRARY PURPOSE: GENERAL | $6,000 |
RONALD MCDONALD HOUSE PURPOSE: GENERAL | $1,000 |
PALM SPRINGS AIR MUSEUM PURPOSE: GENERAL | $650 |
COLLEGE OF THE DESERT PURPOSE: GENERAL | $13,260 |
MCCALLUM THEATRE PURPOSE: GENERAL | $14,450 |
LOMA LINDA UNIV HOSPITAL PURPOSE: GENERAL | $280,000 |