Joan And Morgan Massey Foundation
- Assets
- $9.1m
- Revenue
- $4.8m
- Investments
- $8.8m
- Employees
- 0
- Location
- Richmond, VA
- Founding
- 03/2015
- Data as of
- 12/2021
- EIN
- 46-2864841
The information for Joan And Morgan Massey Foundation is as of the organization's most recent filing in December '21. This organization is located in Richmond, VA. It has been in existence for 6 years, following its founding in 2015.
Organization Classification
The IRS classifies organizations according to the National Taxonomy of Exempt Entities (NTEE) system. The NTEE system helps the IRS assign a 3-character code to each organization to describe the organization's activities.
The Joan And Morgan Massey Foundation is a philanthropic organization classified under NTEE code T20, which falls under the major classification of Philanthropy, Voluntarism & Grantmaking Foundations. As a private grantmaking foundation, the organization operates as a nongovernmental, nonprofit entity with funds and programs managed by its own trustees or directors. Its primary purpose is to maintain or support social, educational, religious, or other charitable activities that serve the common welfare, primarily through grantmaking. Additionally, the foundation is classified under section 3 of the Internal Revenue Code, indicating its engagement in religious, educational, charitable, scientific, literary, public safety, amateur sports, or prevention of cruelty to children or animals work.
Grant History
Our dataset includes seven years of grant history for the Joan And Morgan Massey Foundation. Over the course of these seven years, they have awarded a total of 52 grants, with an average check size of $47,115. The foundation has consistently awarded an average of seven grants each year. The majority of their grants, eight in total, have been awarded in the Education sector. Furthermore, all 52 grants have been awarded in the state of Virginia.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sky Massey Board Chair | 1 | $0 | |
Maureen Denlea Director | 0 | $0 | |
Craig L Massey President | 1 | $0 | |
Susan Massey Director | 0 | $0 | |
Andrea C Glasgow Secretary | 1 | $0 | |
J H Binford Peay III Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $3,300 |
| Interest on Savings | $31 |
| Dividends & Interest | $217,594 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $4,532,855 |
| Capital Gain Net Income | $4,532,855 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $40,123 |
| Total Revenue | $4,793,903 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $231 |
| Taxes | $7,293 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $46,623 |
| Total operating and administrative expenses | $85,956 |
| Contributions, gifts, grants paid | $450,000 |
| Total expenses and disbursements | $535,956 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $49,801 |
| Savings and temporary cash investments | $211,378 |
| 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 | $2,519,682 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $9,072,890 |
| 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, Joan And Morgan Massey Foundation has awarded $450,000 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
VCU COLLEGE OF ENGINEERING FOUNDATION PURPOSE: DR. BOYAN'S RESEARCH | $100,000 |
SCIENCE MUSEUM OF VIRGINIA PURPOSE: THE FORGE PROGRAM | $50,000 |
Gloucester Point, VA PURPOSE: DEAN & DIRECTORS INNOVATION FUND | $50,000 |
UNIVERSITY OF VIRGINIA SCHOOL OF ENGINEERING PURPOSE: DR CALHOUN'S RESEARCH | $50,000 |
BOY SCOUTS OF AMERICA HEART OF VA COUNCIL PURPOSE: EAGLE SCOUT DEVELOPMENT PROGRAMS & HISPANIC OUTREACH | $50,000 |
Richmond, VA PURPOSE: DATA DRIVEN INNOVATION PROJECT | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Trousdale Foundation Inc Cleveland, TN | $157,578,588 | $76,137,385 |
The United Methodist Retirement Homes Inc Durham, NC | $351,992,425 | $85,120,969 |
Msi-Us Washington, DC | $1,301,607 | $71,292,993 |
Peter Alfond Foundation Bethesda, MD | $78,752,550 | $129,307,233 |
Bhp Foundation Washington, DC | $309,092,778 | $68,102,954 |
Wyss Medical Foundation Inc Washington, DC | $41,278,790 | $827,503 |
Service Coordination Inc Frederick, MD | $19,156,790 | $52,158,150 |
Claws Foundation Reston, VA | $37,055,234 | $1,734,426 |
Dogwood Health Trust Asheville, NC | $1,386,374,836 | $630,200,598 |
J Willard And Alice S Marriott Foundation Bethesda, MD | $441,340,618 | $31,840,539 |
Jack Kent Cooke Foundation Lansdowne, VA | $883,502,508 | $42,942,790 |
Bainum Family Foundation Bethesda, MD | $0 | $60,288,788 |