Elis Olsson Memorial Foundation
- Assets
- $10.0m
- Revenue
- $61.7k
- Investments
- $9.6m
- Employees
- 0
- Location
- West Point, VA
- Founding
- 12/1966
- Data as of
- 12/2023
- EIN
- 54-6062436
Organization Overview
Elis Olsson Memorial Foundation is located in West Point, VA. The organization was established in 1966. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Elis Olsson Memorial 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 12/2023, Elis Olsson Memorial Foundation generated $61.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (39.1%) each year. All expenses for the organization totaled $521.2k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Elis Olsson Memorial Foundation has awarded 355 individual grants totaling $9,951,090. 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 |
|---|---|---|---|
C Elis Olsson President & Chairman | 0 | $0 | |
Shirley C Olsson Vice President & Director | 0 | $0 | |
Lisa O Everett Secretary/treasurer & Director | 3 | $0 | |
Anne O Loebs Director | 3 | $0 | |
Inga O Rogers Director | 3 | $0 | |
Thelma L Downey Executive Director | 30 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $266,856 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$205,192 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $61,664 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $5,886 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $121,192 |
| Contributions, gifts, grants paid | $400,000 |
| Total expenses and disbursements | $521,192 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $391,627 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $10,012,039 |
| 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, Elis Olsson Memorial Foundation has awarded $400,000 in support to 73 organizations.
| Grant Recipient | Amount |
|---|---|
ALZHEIMERS ASSOCIATION - GREATER RICHMOND CHAPTER PURPOSE: GENERAL PURPOSE | $1,000 |
BAY AGING PURPOSE: GENERAL PURPOSE | $15,000 |
ARTS ALIVE INC PURPOSE: GENERAL PURPOSE | $20,000 |
ANGELS OF MERCY MEDICAL CLINIC PURPOSE: GENERAL PURPOSE | $5,000 |
BEACH FOOD PANTRY INC PURPOSE: GENERAL PURPOSE | $5,000 |
BOYKIN SPANIEL FOUNDATION PURPOSE: GENERAL PURPOSE | $5,000 |