Rita M Mcginley Foundation
- Assets
- $11.9m
- Revenue
- $2.7m
- Investments
- $11.9m
- Employees
- 0
- Location
- Pittsburgh, PA
- Founding
- 09/2003
- Data as of
- 12/2023
- EIN
- 43-2024870
Organization Overview
Rita M Mcginley Foundation is located in Pittsburgh, PA. The organization was established in 2003. 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. Rita M Mcginley 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, Rita M Mcginley Foundation generated $2.7m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 51.1% each year . All expenses for the organization totaled $987.3k during the year ending 12/2023. While expenses have increased by 9.8% per year over the past 5 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, Rita M Mcginley Foundation has awarded 86 individual grants totaling $3,421,500. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John C Mcginley Vice President & Treasurer | 10 | $0 | |
Nancy Palamara Secretary | 10 | $0 | |
John R Mcginley Jr President & Director | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $49,307 |
| Dividends & Interest | $365,808 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,323,347 |
| Capital Gain Net Income | $2,323,347 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $2,738,462 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| 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 | $81,428 |
| Total operating and administrative expenses | $99,000 |
| Contributions, gifts, grants paid | $888,250 |
| Total expenses and disbursements | $987,250 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | -$1 |
| Savings and temporary cash investments | $76,248 |
| 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 | $11,857,968 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $11,934,215 |
| 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, Rita M Mcginley Foundation has awarded $888,250 in support to 22 organizations.
| Grant Recipient | Amount |
|---|---|
ACBA FOUNDATION ATTORNEYS AGAINST HUNGER PURPOSE: HUNGER AWARENESS & SUPPORT | $5,000 |
BRADDOCK CARNEGIE LIBRARY ASSOCIATION PURPOSE: FINANCIAL SUPPORT | $20,000 |
CARLOW UNIVERSITY PURPOSE: UNIVERSITY MINISTRY CENTER | $200,000 |
CHRIST CHILD SOCIETY OF PITTSBURGH PURPOSE: FINANCIAL SUPPORT | $2,000 |
CHILDRENS HOSPITAL OF PITTSBURGH FOUNDATION PURPOSE: FINANCIAL SUPPORT | $15,000 |
CHUCK NOLL FOUNDATION PURPOSE: FINANCIAL SUPPORT | $20,000 |