Rita M Mcginley Foundation
- Assets
- $10.5m
- Revenue
- $1.0m
- Investments
- $10.4m
- Employees
- 0
- Location
- Pittsburgh, PA
- Founding
- 09/2003
- Data as of
- 12/2021
- 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 12/2021, Rita M Mcginley Foundation generated $1.0m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 18.6% each year . All expenses for the organization totaled $1.2m during the year ending 12/2021. While expenses have increased by 4.3% 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, Rita M Mcginley Foundation has awarded 43 individual grants totaling $1,925,750. 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 R Mcginley Jr President & Director | 10 | $0 | |
Nancy Palamara Secretary | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $6,441 |
| Dividends & Interest | $282,768 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $720,579 |
| Capital Gain Net Income | $720,579 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $68 |
| Total Revenue | $1,009,856 |
| 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 | $79,861 |
| Total operating and administrative expenses | $109,772 |
| Contributions, gifts, grants paid | $1,080,000 |
| Total expenses and disbursements | $1,189,772 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $120,349 |
| 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 | $10,353,923 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $10,474,272 |
| 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 $1,080,000 in support to 21 organizations.
| Grant Recipient | Amount |
|---|---|
Pittsburgh, PA PURPOSE: UNIVERSITY MINISTRY CENTER | $300,000 |
SAINT BONAVENTURE UNIVERSITY PURPOSE: MINISTRIES | $200,000 |
DUQUESNE UNIVERSITY PURPOSE: FINANCIAL SUPPORT | $165,000 |
Latrobe, PA PURPOSE: EDUCATION | $100,000 |
PITTSBURGH PROMISE PURPOSE: EDUCATION | $75,000 |
PHIPPS CONSERVATORY PURPOSE: CONSERVATORY SUPPORT | $40,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Redhill Foundation-Sam And Jean Rothberg Family Charitable Trust New York, NY | $42,979,654 | $7,387,635 |
Stadler Family Charitable Foundation Inc Titusville, NJ | $29,757,304 | $26,067,204 |
The Grateful Lives Foundation Wilmington, DE | $671,624,478 | $48,426,740 |
Robert W Wilson Charitable Tr New York, NY | $246,803,641 | $15,248,568 |
The Zegar Family Foundation New York, NY | $255,794,688 | $35,430,517 |
Lenfest Foundation Inc Philadelphia, PA | $0 | $560,962 |
The Blackrock Charitable Foundation New York, NY | $304,949,202 | $10,722,340 |
Zankel Fund New York, NY | $8,426,526 | $6,600,017 |
Crystal Trust Ua Dtd 12-25-47 Irenee Dupont Jr Ttee Montchanin, DE | $288,226,063 | $32,506,410 |
Estee Lauder Companies Charitable Foundation New York, NY | $35,974,866 | $21,957,506 |
Theodore J Forstmann Charitable Trust New York, NY | $79,816,371 | $674,210 |
The Carol A Ammon Foundation Albany, NY | $10,088,469 | $6,097,174 |