Murdough Foundation
- Assets
- $3.2m
- Revenue
- $412.5k
- Investments
- $3.2m
- Employees
- 0
- Location
- Hudson, OH
- Founding
- 10/1984
- Data as of
- 12/2023
- EIN
- 34-1454379
Organization Overview
Murdough Foundation is located in Hudson, OH. The organization was established in 1984. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Murdough Foundation 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, Murdough Foundation generated $412.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (3.4%) each year. All expenses for the organization totaled $1.1m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Murdough Foundation has awarded 29 individual grants totaling $3,377,500. 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
NO DIRECT ACTIVITIES. THE FOUNDATION MAKES GIFTS TO QUALIFIED 501(C)(3) CHARITIES.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas G Murdough Jr President, Treas, Trustee | 0 | $0 | |
Joy P Murdough Secretary, Trustee | 0 | $0 | |
James R Miller Executive Director | 4 | $20,000 | |
William M Oldham Trustee | 0 | $0 | |
Peter R Murdough Trustee | 0 | $0 | |
Marshall C Murdough Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $22,766 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $389,782 |
| Capital Gain Net Income | $389,782 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $412,548 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $20,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $200 |
| Total operating and administrative expenses | $65,101 |
| Contributions, gifts, grants paid | $1,000,000 |
| Total expenses and disbursements | $1,065,101 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $18,518 |
| 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 | $3,197,349 |
| 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, Murdough Foundation has awarded $1,000,000 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
AKRON CHILDEN'S HOSPITAL PURPOSE: INNOVATION CHALLENGE PROGRAM | $100,000 |
JEFFERSON SCHOLARS FOUNDATION PURPOSE: MACK CAPUTO JEFFERSON PROFESSORSHIP IN LEADERSHIP | $200,000 |
OCEAN REEF CHAPEL FOUNDATION PURPOSE: FUNDING TO SUPPORT THE CONSTRUCTION OF A NEW CHAPEL BUILDING | $100,000 |
THE CLEVELAND CLINIC FOUNDATION PURPOSE: SUPPORT FOR THE NEUROLOGICAL INSTITUTE | $400,000 |
UNIVERSITY OF VIRGINIA ATHLETICS FOUNDATION PURPOSE: FUNDING FOR THE RENOVATION OF THE MCCUE CENTER | $200,000 |