R C Musson & Katharine M Musson Charitable Foundation
- Assets
- $2.9m
- Revenue
- $191.4k
- Investments
- $2.8m
- Employees
- 0
- Location
- Akron, OH
- Founding
- 06/1987
- Data as of
- 12/2021
- EIN
- 34-1549070
Organization Overview
R C Musson & Katharine M Musson Charitable Foundation is located in Akron, OH. The organization was established in 1987. 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. R C Musson & Katharine M Musson Charitable 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 12/2021, R C Musson & Katharine M Musson Charitable Foundation generated $191.4k in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 4.6% each year. All expenses for the organization totaled $248.0k during the year ending 12/2021. While expenses have increased by 0.3% 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, R C Musson & Katharine M Musson Charitable Foundation has awarded 106 individual grants totaling $332,245. 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
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
NO DIRECT ACTIVITES. 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.
PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert S Segers Treasurer | 8 | $8,850 | |
Joseph Musson Vice President | 5 | $6,750 | |
Irvin J Musson III President | 5 | $6,750 | |
William J Segers Secretary | 5 | $6,750 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $134,340 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $57,063 |
| Capital Gain Net Income | $57,063 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $191,403 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $29,100 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $2,769 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $721 |
| Total operating and administrative expenses | $69,954 |
| Contributions, gifts, grants paid | $178,000 |
| Total expenses and disbursements | $247,954 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $62,061 |
| 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 | $2,870,315 |
| 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, R C Musson & Katharine M Musson Charitable Foundation has awarded $178,000 in support to 56 organizations.
| Grant Recipient | Amount |
|---|---|
THE UNIVERSITY OF AKRON PURPOSE: INDUSTRIAL CONTROL SYSTEMS TESTBED | $50,000 |
Akron, OH PURPOSE: VETERAN'S APPRECIATION DAY - WHEEL RE-DESIGN | $15,000 |
HAVEN OF REST MINISTRIES PURPOSE: RESIDENTIAL PROGRAMS | $5,000 |
CUYAHOGA VALLEY SCENIC RAILROAD PURPOSE: REBUILD RAIL DIESEL CAR | $5,000 |
Akron, OH PURPOSE: OPERATING EXPENSES | $4,000 |
Akron, OH PURPOSE: GATE LODGE RESTORATION PROJECT | $4,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
George Gund Foundation Cleveland, OH | $524,945,754 | $120,923,136 |
Oberkotter Foundation Philadelphia, PA | $83,021,123 | $23,009,013 |
Lumina Foundation For Education Inc Indianapolis, IN | $0 | $124,727,424 |
Pnc Foundation Pittsburgh, PA | $218,373,148 | $3,451,991 |
Sarah Scaife Foundation Inc Pittsburgh, PA | $645,014,499 | $79,121,296 |
J Howard Pew Freedom Tr Philadelphia, PA | $675,828,558 | $64,346,772 |
Mccune Foundation Pittsburgh, PA | $180,488,577 | $38,182,239 |
The Meijer Foundation Grand Rapids, MI | $118,103,895 | $43,970,388 |
Nationwide Foundation Columbus, OH | $86,187,581 | $42,470,606 |
Dietrich Foundation Pittsburgh, PA | $1,425,693,584 | $93,476,192 |
Ford Motor Co Fund Dearborn, MI | $173,752,828 | $51,364,996 |
Farmer Family Foundation Cincinnati, OH | $165,004,074 | $63,392,827 |