Laffey-Mchugh Foundation
- Assets
- $65.4m
- Revenue
- $8.4m
- Investments
- $64.4m
- Employees
- 0
- Location
- Wilmington, DE
- Founding
- 04/1961
- Data as of
- 12/2022
- 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 12/2022, Laffey-Mchugh Foundation generated $8.4m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 12.3% each year . All expenses for the organization totaled $4.6m during the year ending 12/2022. While expenses have increased by 3.3% 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, Laffey-Mchugh Foundation has awarded 342 individual grants totaling $10,795,816. 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 | $172,500 | |
Wilson Jc Braun Jr Vice President | 2 | $0 | |
Collins J Seitz Jr Vice President | 2 | $0 | |
Arthur G Connolly III Executive Vice President | 2 | $0 | |
Mary C Braun President | 2 | $0 | |
Antoine J Allen Vice President | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $27,674 |
| Dividends & Interest | $590,967 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $4,424,434 |
| Capital Gain Net Income | $4,424,434 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $3,380,901 |
| Total Revenue | $8,423,976 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $150,000 |
| Other employee salaries and wages | $145,574 |
| Pension plans, employee benefits | $20,000 |
| Interest | $0 |
| Taxes | $211,176 |
| Depreciation | $26,321 |
| Occupancy | $19,692 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $59,321 |
| Total operating and administrative expenses | $914,400 |
| Contributions, gifts, grants paid | $3,703,316 |
| Total expenses and disbursements | $4,617,716 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $903,165 |
| Savings and temporary cash investments | $0 |
| 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 | $51,522,724 |
| Net Land, buildings, and equipment | $96,983 |
| Other assets | $0 |
| Total assets | $65,420,261 |
| 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, Laffey-Mchugh Foundation has awarded $3,703,316 in support to 116 organizations.
| Grant Recipient | Amount |
|---|---|
4TH DIMENSION LEADERS PURPOSE: GENERAL OPERATING SUPPORT | $20,000 |
ARCHMERE ACADEMY US CATHOLIC CONFERENCE PURPOSE: GENERAL OPERATING SUPPORT | $25,000 |
A BETTER CHANCE FOR OUR CHILDREN PURPOSE: GENERAL OPERATING SUPPORT | $10,000 |
ASPEN ART MUSEUM PURPOSE: GENERAL OPERATING SUPPORT | $5,000 |
ASPEN CENTER FOR ENVIRONMENTAL STUDIES PURPOSE: GENERAL OPERATING SUPPORT | $5,000 |
BEAU BIDEN FOUNDATION FOR PROTECTION PURPOSE: GENERAL OPERATING SUPPORT | $10,000 |