Michael Family Foundation Inc
- Assets
- $4.4m
- Revenue
- $629.6k
- Investments
- $4.4m
- Employees
- 0
- Location
- Winston Salem, NC
- Founding
- 03/2011
- Data as of
- 12/2021
- EIN
- 27-3790469
Organization Overview
Michael Family Foundation Inc is located in Winston Salem, NC. The organization was established in 2011. 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. Michael Family 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 12/2021, Michael Family Foundation Inc generated $629.6k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 60.1% each year . All expenses for the organization totaled $358.2k during the year ending 12/2021. While expenses have increased by 29.8% per year over the past 7 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 2016, Michael Family Foundation Inc has awarded 36 individual grants totaling $2,580,813. 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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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Teresa T Michael Vice Preside | 0 | $0 | |
Thomas L Paulson Secretary | 0 | $0 | |
Chester A Michael III President | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $327,385 |
| Interest on Savings | $0 |
| Dividends & Interest | $113,063 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $189,150 |
| Capital Gain Net Income | $189,150 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $629,598 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,507 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $35,219 |
| Total operating and administrative expenses | $39,026 |
| Contributions, gifts, grants paid | $319,161 |
| Total expenses and disbursements | $358,187 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $682 |
| 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 | $4,413,199 |
| 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, Michael Family Foundation Inc has awarded $319,161 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
Salisbury, NC PURPOSE: GENERAL OPERATIONS | $101,674 |
Salisbury, NC PURPOSE: GENERAL OPERATIONS | $100,224 |
Salisbury, NC PURPOSE: GENERAL OPERATIONS | $99,763 |
Winstonsalem, NC PURPOSE: GENERAL OPERATIONS | $10,000 |
FEED NC PURPOSE: GENERAL OPERATIONS | $5,000 |
MACEDONIA UMC PURPOSE: UPPER ROOM OPERATIONS | $2,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Arthur M Blank Family Foundation Atlanta, GA | $365,187,486 | $84,889,977 |
Pyramid Peak Foundation Memphis, TN | $230,284,852 | $119,724,559 |
John Bulow Campbell Foundation Atlanta, GA | $793,659,742 | $103,345,098 |
The Rosser Foundation A Pure Charitable Trust And Public Charit Hampton, VA | $12,195,900 | $36,359,396 |
Darla Moore And Richard Rainwater Foundation Lake City, SC | $538,432,800 | $34,322,461 |
Poplar Foundation Memphis, TN | $149,801,224 | $18,419,294 |
John M Belk Endowment Charlotte, NC | $344,527,989 | $19,824,991 |
Plough Foundation Memphis, TN | $29,124,366 | $7,604,937 |
C D Spangler Foundation Inc Charlotte, NC | $547,764,463 | $34,692,558 |
The Henry W Grady Health System Foundation Inc Atlanta, GA | $41,862,389 | $12,481,516 |
Haslam Family Foundation Inc Knoxville, TN | $7,594,271 | $428,205 |
The Ezrah Charitable Trust Charlotte, NC | $259,414,844 | $89,054,665 |