Midway Foundation Inc
- Assets
- $1.7m
- Revenue
- $703.2k
- Investments
- $0.0
- Employees
- 0
- Location
- San Diego, CA
- Founding
- 07/2006
- Data as of
- 12/2021
- EIN
- 51-0571147
Organization Overview
Midway Foundation Inc is located in San Diego, CA. The organization was established in 2006. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Midway 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, Midway Foundation Inc generated $703.2k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 30.3% each year . All expenses for the organization totaled $306.0k during the year ending 12/2021. While expenses have increased by 10.7% 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.
Since 2018, Midway Foundation Inc has awarded 85 individual grants totaling $1,844,000. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
MIDWAY FOUNDATION, INC. (THE FOUNDATION) IS A NONPROFIT ORGANIZATION COMMITTED TO WORKING WITH DONORS TO PROVIDE SUPPORT TO THE USS MIDWAY MUSEUMS VISION OF BECOMING AMERICAS LIVING SYMBOL OF FREEDOM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FUNDS HAVE BEEN GRANTED TO NONPROFIT BENEFIT ORGANIZATIONS THAT SUPPORT VETERANS, MILITARY FAMILIES AND FIRST RESPONDERS OPERATIONAL SAFETY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dan Beintema Past President | OfficerTrustee | 12 | $0 |
Malin Burnham Chair Emeritus | OfficerTrustee | 1 | $0 |
Laura White President | OfficerTrustee | 1 | $0 |
Ben Clay Chairman | OfficerTrustee | 1 | $0 |
Cdr Stacy Mccarthy Usn Ret Secretary | OfficerTrustee | 1 | $0 |
David Bialis Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $691,833 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $691,833 |
| Total Program Service Revenue | $0 |
| Investment income | $11,360 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $703,193 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $306,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $306,000 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $281,325 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,374,632 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,655,957 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $271,325 |
| Net assets with donor restrictions | $1,384,632 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,655,957 |
Grants Awarded
Over the last fiscal year, Midway Foundation Inc has awarded $305,000 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
San Diego, CA PURPOSE: FINANCIAL ED & ASSISTANCE | $60,000 |
San Diego, CA PURPOSE: NEIGHBORHOOD POLICING EQUIPMENT | $50,000 |
Encinitas, CA PURPOSE: PTS PROTOCOL SUPPORT | $50,000 |
Escondido, CA PURPOSE: HOUSING STABILITY CASE MGR POSITION | $25,000 |
San Diego, CA PURPOSE: ED DEV OF MILITARY YOUTH | $20,000 |
MCRD MUSEUM FOUNDATION PURPOSE: MILITARY/VETERAN SUPPORT & NETWORK | $20,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Midway Foundation Inc has recieved totaling $42.
| Awarding Organization | Amount |
|---|---|
Michael And Carmen Duffek Foundation Inc Anthem, AZ PURPOSE: SUPPORT PROGRAMS | $42 |
Endowment Analysis
| Beg. Balance | $974,074 |
| Earnings | $260,352 |
| Net Contributions | $150,206 |
| Ending Balance | $1,384,632 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
U C San Diego Foundation La Jolla, CA | $1,658,962,820 | $199,905,173 |
California State University Fresno Foundation Fresno, CA | $305,581,286 | $82,049,002 |
University Of Hawaii Foundation Honolulu, HI | $548,406,506 | $76,733,850 |
University Corporation At Monterey Bay Seaside, CA | $199,917,843 | $49,155,763 |
San Jose State University Research Foundation San Jose, CA | $57,091,451 | $53,661,013 |
University Of Nevada-Reno Foundation Reno, NV | $310,760,494 | $35,673,494 |
The U C Davis Foundation Davis, CA | $716,342,130 | $110,976,640 |
Southwestern Law School Los Angeles, CA | $126,801,745 | $54,692,632 |
Associated Students Ucla Los Angeles, CA | $54,580,827 | $39,327,069 |
Csu Fullerton Auxiliary Services Corporation Fullerton, CA | $104,352,109 | $45,637,535 |
New Schools Fund Oakland, CA | $55,397,321 | $41,218,694 |
Chico State Enterprises Chico, CA | $47,170,077 | $46,861,327 |