James Megellas Foundation Inc
- Assets
- $74.3m
- Revenue
- $3.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Glendale, AZ
- Founding
- 03/2012
- Data as of
- 06/2022
- EIN
- 27-3047777
Organization Overview
James Megellas Foundation Inc is located in Glendale, AZ. The organization was established in 2012. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, 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. James Megellas 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 06/2022, James Megellas Foundation Inc generated $3.6m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.8%) each year. All expenses for the organization totaled $3.8m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (5.2%) per year over the past 7 years. 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
THE FOUNDATION'S PRIMARY PURPOSE IS TO ADDRESS "SOCIAL NEEDX AND TO "LESSEN THE BURDEN OF GOVERNMENT" IN THE AREAS OF EDUCATION,
Describe the Organization's Program Activity:
Part 3 - Line 4a
LEASING SCHOOL FACILITIES TO A PUBLIC SCHOOL DISTRICT
SUPPORT ACADEMIC EXCELLENCE
LEASING FACILITIES TO A MUNICIPALITY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Melton President | OfficerTrustee | 5 | $0 |
Sharon Melton Director | Trustee | 5 | $0 |
Ray L'amoreaux Director | Trustee | 1 | $0 |
Linda L'amoreaux Director | Trustee | 1 | $0 |
Gary Willow Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $3,597,457 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,597,457 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $22,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| 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 | $17,500 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $29,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $522 |
| Information technology | $0 |
| 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 | $0 |
| Interest | $3,012,283 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $51,677 |
| All other expenses | $0 |
| Total functional expenses | $3,775,505 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $544,685 |
| Savings and temporary cash investments | $480,520 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $827,314 |
| 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 | $32,996 |
| Net Land, buildings, and equipment | $66,632,525 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,804,553 |
| Total assets | $74,322,593 |
| Accounts payable and accrued expenses | $242,700 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $69,339,290 |
| 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 | $517,727 |
| Total liabilities | $70,099,717 |
| Net assets without donor restrictions | $4,222,876 |
| Net assets with donor restrictions | $0 |
| 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 | $74,322,593 |
Grants Awarded
Over the last fiscal year, James Megellas Foundation Inc has awarded $20,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
VICTORIOUS CHRISTIAN LIVING PURPOSE: EDUCATION | $10,000 |
MORNINGSTAR FOUNDATION PURPOSE: AUTISM | $10,000 |