Meg Foundation Inc
- Assets
- $1.5m
- Revenue
- $233.7k
- Investments
- $1.5m
- Employees
- 0
- Location
- Raleigh, NC
- Founding
- 05/1999
- Data as of
- 12/2021
- EIN
- 56-2130580
Organization Overview
Meg Foundation Inc is located in Raleigh, NC. The organization was established in 1999. 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. Meg Foundation Inc 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, Meg Foundation Inc generated $233.7k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 19.8% each year . All expenses for the organization totaled $79.5k during the year ending 12/2021. While expenses have increased by 8.7% 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, Meg Foundation Inc has awarded 160 individual grants totaling $393,175. 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
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Grayson E G Hampson Secretary | 0 | $0 | |
M Elizabeth Gant Pres/treas | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $50,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $21,651 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $162,067 |
| Capital Gain Net Income | $162,067 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $233,718 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $447 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $25 |
| Total operating and administrative expenses | $9,471 |
| Contributions, gifts, grants paid | $70,000 |
| Total expenses and disbursements | $79,471 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,125 |
| 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 | $1,494,475 |
| 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, Meg Foundation Inc has awarded $70,000 in support to 16 organizations.
| Grant Recipient | Amount |
|---|---|
INTER-FAITH FOOD SHUTTLE PURPOSE: GENERAL SUPPORT | $12,000 |
FOOD BANK OF CENTRAL AND E NC PURPOSE: GENERAL SUPPORT | $7,500 |
SAINT PAUL AME CHURCH PURPOSE: GENERAL SUPPORT | $7,500 |
FIGS PURPOSE: GENERAL SUPPORT | $6,000 |
AMERICAN RED CROSS PURPOSE: GENERAL SUPPORT | $5,500 |
Raleigh, NC PURPOSE: GENERAL SUPPORT | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Fellowship Foundation Inc Arlington, VA | $7,901,984 | $7,885,643 |
Goodnight Educational Foundation Cary, NC | $149,468,750 | $4,782,379 |
Foundation For A Better World Inc Marietta, GA | $167,606,554 | $6,349,362 |
Reinhart Foundation Richmond, VA | $39,727,277 | $36,137,915 |
Charis Foundation Knoxville, TN | $16,682,566 | $7,998,986 |
Skeebo Foundation Charlotte, NC | $58,827,572 | $60,108,534 |
Darnall W Boyd Foundation Inc Columbia, SC | $0 | $6,239,520 |
Grizzard Family Foundation Inc Stone Mountain, GA | $7,597,688 | $166,630 |
Oak Hill Fund Charlottesville, VA | $99,384,131 | $7,166,197 |
Spring Foundation Inc Atlanta, GA | $104,160,284 | -$7,184,259 |
The Williams Brice Edwards Charitable Trust Sumter, SC | $57,951,375 | $6,028,487 |
The Scott Hudgens Family Foundation Inc Duluth, GA | $0 | $7,703,530 |