Margaret W And Lorimer W Midgett Trust
- Assets
- $3.0m
- Revenue
- $234.7k
- Investments
- $2.9m
- Employees
- 0
- Location
- Detroit, MI
- Founding
- 09/2000
- Data as of
- 12/2021
- EIN
- 52-7100207
Organization Overview
Margaret W And Lorimer W Midgett Trust is located in Detroit, MI. The organization was established in 2000. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Margaret W And Lorimer W Midgett Trust 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, Margaret W And Lorimer W Midgett Trust generated $234.7k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $235.9k during the year ending 12/2021. While expenses have increased by 2.6% 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 2015, Margaret W And Lorimer W Midgett Trust has awarded 24 individual grants totaling $1,191,897. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $6 |
| Dividends & Interest | $81,223 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $153,432 |
| Capital Gain Net Income | $153,432 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $26 |
| Total Revenue | $234,687 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $21,186 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $33,586 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $85,834 |
| Contributions, gifts, grants paid | $150,028 |
| Total expenses and disbursements | $235,862 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $92,691 |
| 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 | $74,181 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $3,020,340 |
| 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, Margaret W And Lorimer W Midgett Trust has awarded $150,028 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
MEDICAL FOUNDATION OF NC INC PURPOSE: SCHOLARSHIP | $75,014 |
COLLEGE OF THE ALBEMARLE PURPOSE: SCHOLARSHIP | $37,507 |
ELIZABETH CITY STATE UNIVERSITY PURPOSE: SCHOLARSHIP | $37,507 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
International Childrens Fund Inc Neenah, WI | $1,153,019 | $79,562,043 |
Van Andel Institute Grand Rapids, MI | $1,815,971,878 | $111,524,637 |
William Davidson Foundation Birmingham, MI | $1,107,938,800 | $127,279,050 |
Ronda E Stryker & William D Johnston Foundation Kalamazoo, MI | $63,637,902 | $79,561,320 |
Gilbert Family Foundation Detroit, MI | $122,833,560 | $20,538,766 |
The Wexner Family Charitable Fund New Albany, OH | $184,942,197 | $254,449,818 |
Alfred And Isabel Bader 2014 Charitable Trust Milwaukee, WI | $88,717,556 | $62,553,918 |
Nina Mason Pulliam Charitable Tr Indianapolis, IN | $513,484,211 | $27,103,020 |
Fifth Third Union Trust Co Foundation Cincinnati, OH | $28,852,332 | $17,459,816 |
Robert And Adele Schiff Family Foundation Inc Milwaukee, WI | $226,331,394 | $18,541,997 |
Carol Ann And Ralph V Haile Jr Foundation Cincinnati, OH | $318,390,176 | $10,905,260 |
Mathile Family Foundation Dayton, OH | $0 | $5,909,915 |