Margaret Paxton Memorial For Convalesctent Children
- Assets
- $9.2m
- Revenue
- $161.5k
- Investments
- $5.8m
- Employees
- 0
- Location
- Leesburg, VA
- Founding
- 05/1934
- Data as of
- 12/2023
- EIN
- 54-0600400
Organization Overview
Margaret Paxton Memorial For Convalesctent Children is located in Leesburg, VA. The organization was established in 1934. According to its NTEE Classification (T23) the organization is classified as: Private Operating 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 Paxton Memorial For Convalesctent Children 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 12/2023, Margaret Paxton Memorial For Convalesctent Children generated $161.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (29.2%) each year. All expenses for the organization totaled $822.9k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Margaret Paxton Memorial For Convalesctent Children has awarded 32 individual grants totaling $2,376,611. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE TRUST OWNS A 17ACRE PROPERTY IN LEESBURG VA THAT SUPPORTS THE WORK OF OTHER NONPROFITS SERVING CHILDREN IN NEED THE PAXTON CAMPUS IS HOME TO THE ARC OF LOUDOUN SERVING ROUGHLY 5400 CHILDREN PER YEAR
THE TRUST HAS ITS OWN PROGRAMS FOCUSED ON EMPOWERING YOUTH IN 2022 THE TRUST HELD A MUSIC FESTIVAL WHICH GENERATED FUNDING TO SUPPORT LOCAL NONPROFITS BY DISBURSING GRANTS OF JUST OVER 24000 IN 2023
THE TRUST SUPPORTS CHILDREN IN NEED BY MEETING BASIC HEALTH AND SAFETY NEEDS OF CHILDREN DIRECTLY THROUGH ITS EMERGENCY ASSISTANCE FUND IN 2023 THESE PROGRAMS DIRECTLY SERVED 12 FAMILIES IN NEED
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Melinda Hartman Trustee | 3 | $0 | |
Paige Buscema Trustee | 3 | $0 | |
Mary Lou Leipheimer Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $114 |
| Interest on Savings | $226 |
| Dividends & Interest | $148,666 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$1,245 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $13,750 |
| Total Revenue | $161,511 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $10,833 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $794 |
| Depreciation | $124,408 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $31,468 |
| Total operating and administrative expenses | $207,402 |
| Contributions, gifts, grants paid | $615,543 |
| Total expenses and disbursements | $822,945 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $523 |
| Savings and temporary cash investments | $8,621 |
| 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 | $5,756,973 |
| Net Land, buildings, and equipment | $3,426,371 |
| Other assets | $0 |
| Total assets | $9,192,488 |
| 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 Paxton Memorial For Convalesctent Children has awarded $615,543 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ARC OF LOUDOUN PURPOSE: UNRESTRICTED CONTRIBUTION | $591,500 |
BENEFIT LIVE LIMITED PURPOSE: GENERAL CHARITABLE SUPPORT | $24,043 |