Medical Group Foundation Inc
- Assets
- $778.5k
- Revenue
- $129.3k
- Investments
- $740.2k
- Employees
- 0
- Location
- Highland, MD
- Founding
- 01/1964
- Data as of
- 09/2021
- EIN
- 54-0566601
Organization Overview
Medical Group Foundation Inc is located in Highland, MD. The organization was established in 1964. According to its NTEE Classification (T21) the organization is classified as: Corporate 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. Medical Group 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 09/2021, Medical Group Foundation Inc generated $129.3k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 31.1% each year . All expenses for the organization totaled $95.2k during the year ending 09/2021. While expenses have increased by 1.7% per year over the past 5 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, Medical Group Foundation Inc has awarded 24 individual grants totaling $313,199. 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 |
|---|---|---|---|
Charlotte M Record Sec/treas | 0 | $27,540 | |
David P Malin Trustee | 0 | $6,000 | |
George W Reid Trustee | 0 | $0 | |
Douglas L Malin President | 0 | $0 | |
M Leroy Haas Trustee | 0 | $0 | |
Wesley S Malin Ttustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $38 |
| Dividends & Interest | $25,121 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $104,157 |
| Capital Gain Net Income | $3,517 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $25 |
| Total Revenue | $129,341 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $33,540 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $5,032 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $165 |
| Occupancy | $720 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $4,809 |
| Total operating and administrative expenses | $50,241 |
| Contributions, gifts, grants paid | $45,000 |
| Total expenses and disbursements | $95,241 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $27,079 |
| 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 | $8,750 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,340 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $83 |
| Other assets | $0 |
| Total assets | $778,473 |
| 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 | $1,254 |
| Total liabilities | $1,254 |
Grants Awarded
Over the last fiscal year, Medical Group Foundation Inc has awarded $45,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Takoma Park, MD PURPOSE: EDUCATIONAL | $30,000 |
Takoma Park, MD PURPOSE: EDUCATIONAL | $7,500 |
BELTSVILLE ADVENTIST SCHO PURPOSE: EDUCATIONAL | $7,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Carmax Foundation Richmond, VA | $6,340,369 | $9,797,991 |
Molina Healthcare Charitable Foundation Wilmington, DE | $6,023,085 | $109,085 |
Alcoa Foundation Pittsburgh, PA | $146,938,296 | $5,082,676 |
Workday Foundation Wilmington, DE | $43,827,189 | $3,435,808 |
Illumina Corporate Foundation Wilmington, DE | $8,163,072 | $7,329,761 |
Star Foundation Bethlehem, PA | $0 | $17,247 |
Mcleod Family Foundation Inc Roanoke, VA | $24,622,922 | $3,411,070 |
Petters Family Foundation Newport News, VA | $24,802,843 | $3,836,696 |
Giant Eagle Foundation Pittsburgh, PA | $15,044,604 | $6,408,453 |
Henkels Foundation Blue Bell, PA | $1,152,398 | $2,386,882 |
Amani Family Foundation Wilmington, DE | $45,849,271 | $16,212,818 |
Tamias Foundation Hunt Valley, MD | $26,017,429 | $6,201,686 |