Mcglothlin Foundation
- Assets
- $16.6m
- Revenue
- $483.6k
- Investments
- $16.5m
- Employees
- 0
- Location
- Bristol, VA
- Founding
- 12/1998
- Data as of
- 12/2022
- EIN
- 54-1907305
Organization Overview
Mcglothlin Foundation is located in Bristol, VA. The organization was established in 1998. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mcglothlin 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, Mcglothlin Foundation generated $483.6k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 12.3% each year . All expenses for the organization totaled $1.3m during the year ending 12/2022. While expenses have increased by 0.9% per year over the past 8 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, Mcglothlin Foundation has awarded 78 individual grants totaling $5,221,033. 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
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas D Mcglothlin President | 35 | $87,000 | |
Michael G Mcglothlin Secretary | 1 | $0 | |
James W Mcglothlin 3 Treasurer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $370,898 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $112,043 |
| Capital Gain Net Income | $104,497 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $627 |
| Total Revenue | $483,568 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $87,000 |
| Other employee salaries and wages | $50,000 |
| Pension plans, employee benefits | $61,208 |
| Interest | $0 |
| Taxes | $29,224 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $7,546 |
| Total operating and administrative expenses | $375,754 |
| Contributions, gifts, grants paid | $900,000 |
| Total expenses and disbursements | $1,275,754 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $61,881 |
| 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 | $16,533,137 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $40,000 |
| Total assets | $16,635,018 |
| 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, Mcglothlin Foundation has awarded $900,000 in support to 19 organizations.
| Grant Recipient | Amount |
|---|---|
ALICE LLOYD COLLEGE PURPOSE: ASSIST IN CONSTRUCTION OF SMALL CHAPEL | $30,000 |
BIRTHPLACE OF COUNTRY MUSIC PURPOSE: GENERAL PURPOSE OF ORGANIZATION | $20,000 |
APPALACHIAN COLLEGE OF PHARMACY PURPOSE: GENERAL PURPOSE OF ORGANIZATION | $180,000 |
BLUEFIELD COLLEGE PURPOSE: ASSISTANCE IN MODERNIZING RESOURCE CENTER | $35,000 |
BOYS AND GIRLS CLUB OF BRISTOL PURPOSE: GENERAL PURPOSE OF ORGANIZATION | $15,000 |
BOYS AND GIRLS CLUB OF CENTRAL APPA PURPOSE: SUPPORT ACADEMIC ASSISTANCE WITH STEAM | $100,000 |