Myles Fam Foundation Tr
- Assets
- $6.1m
- Revenue
- $437.5k
- Investments
- $3.8m
- Employees
- 0
- Location
- Elkins, WV
- Founding
- 04/2000
- Data as of
- 12/2023
- EIN
- 55-6126320
Organization Overview
Myles Fam Foundation Tr is located in Elkins, WV. The organization was established in 2000. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Myles Fam Foundation Tr 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, Myles Fam Foundation Tr generated $437.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (4.7%) each year. All expenses for the organization totaled $769.5k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (0.4%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Myles Fam Foundation Tr has awarded 84 individual grants totaling $10,898,785. 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 |
|---|---|---|---|
June B Myles Trustee | 20 | $0 | |
R Faye Channell Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $34,632 |
| Dividends & Interest | $101,379 |
| Net Rental Income | $84,773 |
| Net Gain on Sale of Assets | $212,490 |
| Capital Gain Net Income | $212,490 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $4,211 |
| Total Revenue | $437,485 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $61,909 |
| Total operating and administrative expenses | $64,459 |
| Contributions, gifts, grants paid | $705,000 |
| Total expenses and disbursements | $769,459 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $58,551 |
| Savings and temporary cash investments | $299,911 |
| 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 | $30,600 |
| Other assets | $1,896,949 |
| Total assets | $6,082,112 |
| 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, Myles Fam Foundation Tr has awarded $705,000 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
AUGUSTA HERITAGE CENTER INC PURPOSE: CHARITABLECHARITABLE | $450,000 |
ARTSBANK INC PURPOSE: CHARITABLE | $10,000 |
DAVIS & ELKINS COLLEGE PURPOSE: CHARITABLECHARITABLE | $100,000 |
DAVIS MEMORIAL PRESBYTERIAN CHURCH PURPOSE: CHARITABLE | $5,000 |
ELKINS RANDOLPH COUNTY PUBLIC LIBRARY PURPOSE: CHARITABLE | $5,000 |
RANDOLPH COUNTY HUMANE SOCIETY PURPOSE: CHARITABLE | $10,000 |