Mcglothlin Foundation
- Assets
- $17.5m
- Revenue
- $3.1m
- Investments
- $17.4m
- Employees
- 0
- Location
- Bristol, VA
- Founding
- 12/1998
- Data as of
- 12/2021
- 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 12/2021, Mcglothlin Foundation generated $3.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 49.0% each year . All expenses for the organization totaled $1.3m during the year ending 12/2021. While expenses have increased by 1.1% 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, Mcglothlin Foundation has awarded 71 individual grants totaling $5,035,033. 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
2021
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 | |
James W Mcglothlin 3 Treasurer | 1 | $0 | |
Michael G Mcglothlin Secretary | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $366,683 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,732,056 |
| Capital Gain Net Income | $2,687,280 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $9,603 |
| Total Revenue | $3,108,342 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $87,000 |
| Other employee salaries and wages | $50,000 |
| Pension plans, employee benefits | $62,793 |
| Interest | $0 |
| Taxes | $9,628 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $7,885 |
| Total operating and administrative expenses | $381,067 |
| Contributions, gifts, grants paid | $900,000 |
| Total expenses and disbursements | $1,281,067 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,771 |
| 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 | $17,435,984 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $17,450,755 |
| 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 15 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF APPALACHIA PURPOSE: ENVIRONMENTAL CLEANUP AND DEMOLITION OF PROPERTIES | $190,000 |
Grundy, VA PURPOSE: ENDOWMENT FUND | $150,000 |
Emory, VA PURPOSE: NEW AMPHITHEATRE AT SCHOOL OF BUSINESS | $100,000 |
BOYS GIRLS CLUB - CENT APPALACHIA PURPOSE: SUPPORT ACADEMIC ASSISTANCE WITH STEAM PROGRAM | $100,000 |
WILLIAM KING ART CENTER PURPOSE: MCGLOTHLIN SERIES EXHIBITIONS | $100,000 |
RADFORD UNIVERSITY PURPOSE: MCGLOTHLIN INTERNATIONAL TEACHING FELLOWS PROGRAM | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
High Point Realty Associates Inc Durham, NC | $37,211,144 | -$111,209 |
Eddie C And C Sylvia Brown Family Foundation Inc Baltimore, MD | $3,716,367 | $4,436,697 |
Foundations And Donors Interest In Catholic Activities Washington, DC | $12,432,482 | $5,708,412 |
Grantmakers In Health Washington, DC | $9,558,387 | $6,468,350 |
Mcglothlin Foundation Bristol, VA | $17,450,755 | $3,108,342 |
Saint Marys Home For Disabled Children Foundation Norfolk, VA | $37,168,152 | $4,187,814 |
Family Faith And Freedom Foundation Washington, DC | $19,815,300 | $893,000 |
Lost Sheep Ministries Inc Knoxville, TN | $704,656 | $432,203 |
Community Residences Foundation Chantilly, VA | $4,861,456 | $1,373,875 |
Chs Sports Boosters Inc Thurmont, MD | $94,425 | $0 |
L A M P Foundation Knoxville, TN | $1,071,995 | $177,293 |
Marilynn R Pierce Charitable Tr Ua Louisville, KY | $1,108,808 | $260,241 |