Melvin Douglas And Victoria Kay Ivester Foundation Inc
- Assets
- $45.1m
- Revenue
- $8.1m
- Investments
- $44.2m
- Employees
- 0
- Location
- Atlanta, GA
- Founding
- 11/2012
- Data as of
- 12/2021
- EIN
- 45-4004727
Organization Overview
Melvin Douglas And Victoria Kay Ivester Foundation Inc is located in Atlanta, GA. The organization was established in 2012. 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. Melvin Douglas And Victoria Kay Ivester Foundation Inc 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, Melvin Douglas And Victoria Kay Ivester Foundation Inc generated $8.1m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 24.4% each year . All expenses for the organization totaled $1.9m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Melvin Douglas And Victoria Kay Ivester Foundation Inc has awarded 15 individual grants totaling $2,851,322. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lynn J Darby Director, President | 18 | $76,580 | |
M Douglas Ivester Director | 15 | $75,580 | |
Swinton A Griffith III Director, Secretary & Treasurer | 18 | $75,580 | |
Oliver C Murray Director | 5 | $9,500 | |
Martha Maron Weber VP And Asst. Secretary | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Morgan Stanley | 12/30/21 | $55,944 |
Ubs Financial Services | 12/30/21 | $63,330 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $3,540,691 |
| Interest on Savings | $85 |
| Dividends & Interest | $1,319,413 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $3,262,449 |
| Capital Gain Net Income | $3,262,449 |
| Net ST Capital Gain | $3,262,449 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | -$21,985 |
| Total Revenue | $8,100,653 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $237,240 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $183 |
| Taxes | $71,474 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $428,171 |
| Contributions, gifts, grants paid | $1,447,000 |
| Total expenses and disbursements | $1,875,171 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $898,239 |
| 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 | $157,210 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $45,110,664 |
| 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 | $49,993 |
| Total liabilities | $49,993 |
Grants Awarded
Over the last fiscal year, Melvin Douglas And Victoria Kay Ivester Foundation Inc has awarded $1,447,000 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
Atlanta, GA PURPOSE: VINEYARD ANDORCHARD PARKING | $450,000 |
Gainesville, GA PURPOSE: SUPPORT COLLEGE OF BUSINESS &COMMUNICATIONS | $300,000 |
HALL COUNTY SCHOOL DISTRICT PURPOSE: HOWARD E. IVESTEREARLY COLLEGE | $300,000 |
Gainesville, GA PURPOSE: STRENGTHEN UNIVERSITY'SHEALTH SCIENCES PROGRAMS | $162,000 |
UNIVERSITY OF GEORGIA FOUNDATION PURPOSE: UGA HONORS COLLEGESCHOLARSHIP | $150,000 |
Gainesville, GA PURPOSE: SUPPORT PHYSICIANASSISTANT STUDIESPROGRAM | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bobbie Bailey Foundation Inc Tucker, GA | $24,485,053 | $1,564,197 |
J R Hyde Iii Foundation Memphis, TN | $230,354,058 | $26,306,779 |
Yhwh Foundation Inc Carrollton, GA | $0 | $14,288,691 |
Drs Bruce & Lee Foundation Florence, SC | $254,078,574 | $12,559,871 |
First Horizon Foundation Memphis, TN | $37,840,936 | $11,265,846 |
Families And Communities Rising Inc Durham, NC | $8,732,109 | $17,644,457 |
Miriam U Hoover Foundation Vero Beach, FL | $0 | $462,542 |
Charles A Cannon Charitable Trust N0 One Concord, NC | $132,429,020 | $9,552,538 |
Dr Herbert And Nicole Wertheim Family Foundation Inc Miami, FL | $42,831,898 | $5,245,016 |
Quality Senior Housing Foundation Of East Texas Inc Atlanta, GA | $68,762,519 | $14,924,948 |
The Mary Alice Fortin Foundation Palm Beach, FL | $167,401,142 | $8,209,363 |
Mary Reynolds Babcock Foundation Incorporated Winstonsalem, NC | $253,832,619 | $55,868,843 |