Foundation Medici
- Assets
- $7.1m
- Revenue
- $1.8m
- Investments
- $2.1m
- Employees
- 0
- Location
- Warren, OH
- Founding
- 07/1993
- Data as of
- 12/2021
- EIN
- 34-1701625
Organization Overview
Foundation Medici is located in Warren, OH. The organization was established in 1993. According to its NTEE Classification (T23) the organization is classified as: Private Operating 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. Foundation Medici 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, Foundation Medici generated $1.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.7% each year . All expenses for the organization totaled $347.1k during the year ending 12/2021. While expenses have increased by 11.0% 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE FUNDS TO OPERATE ART MUSEUM IN WARREN, OHIO
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Pogue President | 0 | $0 | |
Dr Farid Naffah Secretary | 0 | $0 | |
John Anderson Treasurer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,362,638 |
| Interest on Savings | $98 |
| Dividends & Interest | $90,616 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $381,320 |
| Capital Gain Net Income | $381,320 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,834,672 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $107,020 |
| Pension plans, employee benefits | $23,906 |
| Interest | $0 |
| Taxes | $3,555 |
| Depreciation | $0 |
| Occupancy | $57,896 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $108,506 |
| Total operating and administrative expenses | $347,104 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $347,104 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,192,121 |
| Savings and temporary cash investments | $178,236 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $19,150 |
| 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 | $3,210,851 |
| Other assets | $451,110 |
| Total assets | $7,101,997 |
| Accounts payable and accrued expenses | $1,580 |
| 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 | $1,406,652 |
| Total liabilities | $1,408,232 |
Grants Awarded
Over the last fiscal year, Foundation Medici has awarded $157,041 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
FMC FUND PURPOSE: CONSTRUCTION PROJECT-BUTLER | $106,041 |
Youngstown, OH PURPOSE: SUPPORT PROGRAM | $50,000 |
WARREN PHILHARMONIC ORCHESTRA PURPOSE: PROGRAM SUPPORT | $1,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Foundation Medici has recieved totaling $25,000.
| Awarding Organization | Amount |
|---|---|
Hillsdale Fund Inc Greensboro, NC PURPOSE: TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lesea Global Feed The Hungry Inc South Bend, IN | $8,955,303 | $44,845,049 |
The Glen At St Joseph Dayton, OH | $19,520,405 | $4,747,418 |
Stoneleigh Foundation Philadelphia, PA | $92,384,286 | $2,978,235 |
Jerry And Laura Jacobson Foundation Inc Sugarcreek, OH | $0 | $911,608 |
Satell Institute King Of Prussia, PA | $13,359,727 | $1,126,245 |
Jack Miller Center For Teaching Americas Founding Principles And Bala Cynwyd, PA | $14,689,077 | $1,577,352 |
Saga Foundation Kalamazoo, MI | $17,766,736 | $2,178,963 |
Artyard Erwinna, PA | $77,186,190 | $24,985,342 |
Dn Leadership Inc Louisville, KY | $2,441,151 | $7,192,611 |
Mansmann Foundation Pa Pittsburgh, PA | $6,102,751 | $745,895 |
Tamim Academies Narberth, PA | $1,567,123 | $2,002,258 |
Thomas And Sandra Usher Camp Rector, PA | $15,474,018 | $882,324 |