Laffey-Mchugh Foundation
- Assets
- $55.6m
- Revenue
- $5.6m
- Investments
- $54.2m
- Employees
- 0
- Location
- Wilmington, DE
- Founding
- 04/1961
- Data as of
- 12/2020
- EIN
- 51-6015095
Organization Overview
Laffey-Mchugh Foundation is located in Wilmington, DE. The organization was established in 1961. 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. Laffey-Mchugh 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 12/2020, Laffey-Mchugh Foundation generated $5.6m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 21.6% each year . All expenses for the organization totaled $4.0m during the year ending 12/2020. While expenses have increased by 2.3% per year over the past 3 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, Laffey-Mchugh Foundation has awarded 226 individual grants totaling $7,092,500. 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 |
|---|---|---|---|
Thomas D Veale Executive Director | 40 | $150,000 | |
Wilson J C Braun Jr Vice President | 2 | $0 | |
Collins J Seitz Jr Vice-President | 2 | $0 | |
Christopher G Connolly Vice-President | 2 | $0 | |
Antoine J Allen Vice-President, Co-Treasur | 2 | $0 | |
Michael M Connolly Vice-President | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $4,978 |
| Dividends & Interest | $410,219 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $4,136,166 |
| Capital Gain Net Income | $4,136,166 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,072,631 |
| Total Revenue | $5,623,994 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $140,000 |
| Other employee salaries and wages | $206,500 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $131,067 |
| Depreciation | $18,771 |
| Occupancy | $15,861 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $28,335 |
| Total operating and administrative expenses | $876,547 |
| Contributions, gifts, grants paid | $3,163,500 |
| Total expenses and disbursements | $4,040,047 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,298,588 |
| 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 | $42,382,266 |
| Net Land, buildings, and equipment | $54,425 |
| Other assets | $3,883 |
| Total assets | $55,572,684 |
| 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 | $2,510 |
| Total liabilities | $2,510 |
Grants Awarded
Over the last fiscal year, Laffey-Mchugh Foundation has awarded $3,929,000 in support to 122 organizations.
| Grant Recipient | Amount |
|---|---|
Wilmington, DE PURPOSE: GENERAL OPERATING SUPPORT | $200,000 |
Wilmington, DE PURPOSE: GENERAL OPERATING SUPPORT | $100,000 |
Newark, DE PURPOSE: GENERAL OPERATING SUPPORT | $100,000 |
Philadelphia, PA PURPOSE: GENERAL OPERATING SUPPORT | $100,000 |
Wilmington, DE PURPOSE: GENERAL OPERATING SUPPORT | $100,000 |
Philadelphia, PA PURPOSE: GENERAL OPERATING SUPPORT | $75,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lor Foundation Inc West Chester, PA | $352,392,197 | $12,888,892 |
Grable Foundation Pittsburgh, PA | $386,701,292 | $35,946,563 |
Connelly Foundation West Conshohocken, PA | $387,913,026 | $27,891,431 |
The Abell Foundation Inc Baltimore, MD | $398,354,670 | $42,510,470 |
Bay And Paul Foundations Inc Wilmington, DE | $33,659,644 | $890,121 |
Gordon & Llura Gund Foundation Princeton, NJ | $18,024,465 | $6,191,436 |
Susquehanna Foundation Bala Cynwyd, PA | $640,733,550 | $61,262,452 |
Operating Engineers Trust Fund Of Washington D C & Vicinity Sparks, MD | $40,754,444 | $17,999,357 |
F M Kirby Foundation Inc Morristown, NJ | $303,494,554 | $34,334,700 |
E Rhodes And Leona B Carpenter Foundation Radnor, PA | $250,926,779 | $43,460,229 |
Victoria Foundation Inc Newark, NJ | $335,393,283 | $24,137,337 |
Kahlert Foundation Inc Sykesville, MD | $93,179,960 | $19,162,440 |