Mcmichael Family Foundation
- Assets
- $44.8m
- Revenue
- $3.3m
- Investments
- $43.9m
- Employees
- 0
- Location
- Madison, NC
- Founding
- 05/1992
- Data as of
- 09/2023
- EIN
- 56-1774976
Organization Overview
Mcmichael Family Foundation is located in Madison, NC. The organization was established in 1992. 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. Mcmichael Family 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 09/2023, Mcmichael Family Foundation generated $3.3m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 18.2% each year . All expenses for the organization totaled $3.7m during the year ending 09/2023. While expenses have increased by 3.4% per year over the past 4 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 2020, Mcmichael Family Foundation has awarded 31 individual grants totaling $11,356,500. 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 |
|---|---|---|---|
Dalton L Mcmichael Jr President/di | 0 | $0 | |
Flavel Mcmichael Godfrey Vice Pres/di | 0 | $0 | |
Gail Lane Treasurer/di | 0 | $0 | |
Whitney Brigman Heard Secretary/ju | 0 | $13,000 | |
Anna Drew Kirk Junior Membe | 0 | $0 | |
Andrew Martin Miracle Junior Membe | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $151,925 |
| Dividends & Interest | $915,982 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,592,520 |
| Capital Gain Net Income | $1,592,520 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $648,591 |
| Total Revenue | $3,309,018 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $13,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $77,173 |
| Taxes | $184,871 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $211,539 |
| Total operating and administrative expenses | $885,808 |
| Contributions, gifts, grants paid | $2,817,000 |
| Total expenses and disbursements | $3,702,808 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $128,891 |
| Savings and temporary cash investments | $744,248 |
| 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 | $23,063,808 |
| Net Land, buildings, and equipment | $117,450 |
| Other assets | $0 |
| Total assets | $44,849,468 |
| 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, Mcmichael Family Foundation has awarded $2,817,000 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
ELON UNIVERSITY PURPOSE: GENERAL PURPOSE | $214,000 |
GRANTS UNDER 100000 PURPOSE: VARIOUS-DETAILS UPON REQUEST | $1,309,000 |
NATIONAL CHRISTIAN FOUNDATION KY PURPOSE: GENERAL PURPOSE | $220,000 |
NC STATE UNIVERSITY PURPOSE: GENERAL PURPOSE | $200,000 |
UNIVERSITY OF GEORGIA PURPOSE: TERRY COLLEGE OF BUSINESS | $874,000 |