M & J Foundation Inc
- Assets
- $6.3m
- Revenue
- $185.8k
- Investments
- $6.1m
- Employees
- 0
- Location
- Goldsboro, NC
- Founding
- 05/1959
- Data as of
- 12/2022
- EIN
- 56-6050267
Organization Overview
M & J Foundation Inc is located in Goldsboro, NC. The organization was established in 1959. 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. M & J 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 12/2022, M & J Foundation Inc generated $185.8k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 19.2% each year . All expenses for the organization totaled $472.2k during the year ending 12/2022. While expenses have increased by 8.2% 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 2016, M & J Foundation Inc has awarded 256 individual grants totaling $2,440,010. 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 |
|---|---|---|---|
Marcellus J Best Jr President | 10 | $0 | |
Frank S Best Director | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $2 |
| Dividends & Interest | $144,142 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$45,812 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $87,482 |
| Total Revenue | $185,814 |
| 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 | $47,658 |
| Total operating and administrative expenses | $47,658 |
| Contributions, gifts, grants paid | $424,500 |
| Total expenses and disbursements | $472,158 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $208,712 |
| Savings and temporary cash investments | $6,927 |
| 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 | $6,295,482 |
| 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, M & J Foundation Inc has awarded $424,500 in support to 35 organizations.
| Grant Recipient | Amount |
|---|---|
3HC HOME HEALTH AND HOSPICE PURPOSE: TO SUPPORT THE MISSION OF THE ORGANIZATION | $105,000 |
ARTS COUNCIL OF WAYNE COUNTY PURPOSE: TO SUPPORT THE MISSION OF THE ORGANIZATION | $1,000 |
BOWDIN COLLEGE PURPOSE: TO SUPPORT THE MISSION OF THE ORGANIZATION | $1,000 |
BOYS AND GIRLS CLUB OF WAYNE COUNTY PURPOSE: TO SUPPORT THE MISSION OF THE ORGANIZATION | $10,000 |
CAMPUS CRUSADE FOR CHRIST PURPOSE: TO SUPPORT THE MISSION OF THE ORGANIZATION | $2,500 |
CHILDREN OF HOPE ALLIANCE PURPOSE: TO SUPPORT THE MISSION OF THE ORGANIZATION | $2,500 |