Mitsubishi Electric America Foundation
- Assets
- $29.0m
- Revenue
- $1.5m
- Investments
- $28.7m
- Employees
- 0
- Location
- Arlington, VA
- Founding
- 02/1991
- Data as of
- 03/2022
- EIN
- 52-1700855
Organization Overview
Mitsubishi Electric America Foundation is located in Arlington, VA. The organization was established in 1991. 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. Mitsubishi Electric America 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 03/2022, Mitsubishi Electric America Foundation generated $1.5m in total revenue. The organization has seen a slow decline revenue. Over the past 4 years, revenues have fallen by an average of (1.7%) each year. All expenses for the organization totaled $1.9m during the year ending 03/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Mitsubishi Electric America Foundation has awarded 535 individual grants totaling $3,613,380. 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 |
|---|---|---|---|
Kevin Webb Senior Director | 40 | $180,219 | |
Jared Baker Director | 0.5 | $0 | |
Michael Corbo Director | 0.5 | $0 | |
Chris Gerdes Director | 0.5 | $0 | |
Brian Heery Director | 0.5 | $0 | |
Mark Kuntz Director | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $472,321 |
| Interest on Savings | $0 |
| Dividends & Interest | $591,383 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $433,197 |
| Capital Gain Net Income | $433,197 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,496,901 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $180,219 |
| Other employee salaries and wages | $79,547 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $46,567 |
| Depreciation | $0 |
| Occupancy | -$2,147 |
| Travel, conferences, and meetings | $3,742 |
| Printing and publications | $2,453 |
| Other expenses | $13,597 |
| Total operating and administrative expenses | $448,819 |
| Contributions, gifts, grants paid | $1,423,623 |
| Total expenses and disbursements | $1,872,442 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $233,328 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $8,464 |
| 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 | $5,569,371 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $9,317 |
| Total assets | $28,997,867 |
| Accounts payable and accrued expenses | $48,049 |
| 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 | $184,649 |
| Total liabilities | $232,698 |
Grants Awarded
Over the last fiscal year, Mitsubishi Electric America Foundation has awarded $1,423,623 in support to 170 organizations.
| Grant Recipient | Amount |
|---|---|
BLUE STAR RECYCLERS PURPOSE: GENERAL SUPPORT | $152,000 |
Durango, CO PURPOSE: GENERAL SUPPORT | $95,900 |
PARTNERS FOR YOUTH WITH DISABILITIES INC PURPOSE: GENERAL SUPPORT | $76,500 |
SCIENCE BUDDIES PURPOSE: GENERAL SUPPORT | $75,000 |
Hoffman Est, IL PURPOSE: GENERAL SUPPORT | $74,964 |
NUTS BOLTS & THINGAMAJIGS PURPOSE: GENERAL SUPPORT | $72,000 |