Thomas R & Elizabeth E Mclean Foundation Inc
- Assets
- $22.6m
- Revenue
- $3.5m
- Investments
- $18.7m
- Employees
- 0
- Location
- Fayetteville, NC
- Founding
- 08/1996
- Data as of
- 12/2021
- EIN
- 31-1470721
Organization Overview
Thomas R & Elizabeth E Mclean Foundation Inc is located in Fayetteville, NC. The organization was established in 1996. 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. Thomas R & Elizabeth E Mclean 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, Thomas R & Elizabeth E Mclean Foundation Inc generated $3.5m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 28.5% each year . All expenses for the organization totaled $2.0m during the year ending 12/2021. While expenses have increased by 12.9% 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, Thomas R & Elizabeth E Mclean Foundation Inc has awarded 44 individual grants totaling $2,489,456. 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 |
|---|---|---|---|
Jennifer Elam President | 25 | $92,725 | |
Angela Ashworth Vice-President / Secretary | 25 | $80,600 | |
Paul Elam Vice-President / Treasurer | 5 | $72,725 | |
Claire Shaw Vice-President | 20 | $72,725 | |
Faison Covington Vice-President / Asst Secr | 5 | $72,725 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $1,635 |
| Dividends & Interest | $456,777 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,517,987 |
| Capital Gain Net Income | $2,517,987 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $528,129 |
| Total Revenue | $3,504,528 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $391,500 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $144,523 |
| Depreciation | $0 |
| Occupancy | $17,578 |
| Travel, conferences, and meetings | $34 |
| Printing and publications | $0 |
| Other expenses | $31,932 |
| Total operating and administrative expenses | $600,567 |
| Contributions, gifts, grants paid | $1,369,166 |
| Total expenses and disbursements | $1,969,733 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $63,582 |
| Savings and temporary cash investments | $3,260,167 |
| 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 | $119,091 |
| Other assets | $529,487 |
| Total assets | $22,625,680 |
| Accounts payable and accrued expenses | $10,647 |
| 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 | $10,647 |
Grants Awarded
Over the last fiscal year, Thomas R & Elizabeth E Mclean Foundation Inc has awarded $1,369,166 in support to 24 organizations.
| Grant Recipient | Amount |
|---|---|
CAPE FEAR VALLEY HEALTH FOUNDATION PURPOSE: ACADEMIC CENTER FOR MEDICAL EDU/RESEARCH | $466,666 |
Fayetteville, NC PURPOSE: NAMING OF HEALTH & SCIENCES BUILDING | $200,000 |
Fayetteville, NC PURPOSE: DEBT REDUCTION CAMPAIGN | $150,000 |
AIRBORNE & SPECIAL OPS MUSEUM FOUNDATION PURPOSE: HONOR AMERICA'S HEROES CAMPAIGN | $100,000 |
HERITAGE SQUARE HISTORICAL SOCIETY PURPOSE: EXTERIOR PRESERVATION | $75,000 |
Fayetteville, NC PURPOSE: OPERATION DOWNTOWN | $40,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
Robert E And Jenny D Kirkland Foundation Union City, TN | $287,925,102 | $17,113,043 |
Speer Foundation Brentwood, TN | $160,979,713 | $8,246,449 |
The Haslam 3 Foundation Inc Knoxville, TN | $5,285,692 | $10,045,433 |
Phil J And Alice S Sheridan Foundation Inc Macon, GA | $17,357,251 | $6,663,970 |
Davis Love Iii Foundation St Simons Island, GA | $5,238,841 | $10,992,325 |
Scarlett Family Foundation Nashville, TN | $163,054,305 | $18,551,241 |
Manning Family Foundation Charlottesville, VA | $313,144,000 | $17,216,650 |
Fellowship Foundation Inc Arlington, VA | $7,901,984 | $7,885,643 |