Montgomery Family Foundation Inc
- Assets
- $14.6m
- Revenue
- $1.2m
- Investments
- $14.6m
- Employees
- 0
- Location
- Atlanta, GA
- Founding
- 07/1991
- Data as of
- 10/2023
- EIN
- 58-1928906
Organization Overview
Montgomery Family Foundation Inc is located in Atlanta, GA. The organization was established in 1991. 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. Montgomery Family 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 10/2023, Montgomery Family Foundation Inc generated $1.2m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.0%) each year. All expenses for the organization totaled $968.1k during the year ending 10/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Montgomery Family Foundation Inc has awarded 547 individual grants totaling $5,178,167. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lj Montgomery III President | 20 | $35,000 | |
Mary Montgomery Treasurer | 20 | $25,000 | |
Elizabeth Scheine Director | 15 | $10,000 | |
Beverly Bennett Senior Director | 20 | $20,000 | |
Christine Eickstead Director | 2 | $1,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $316,007 |
| Net Rental Income | $22,282 |
| Net Gain on Sale of Assets | $306,177 |
| Capital Gain Net Income | $306,177 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $577,110 |
| Total Revenue | $1,221,576 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $91,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $23,029 |
| Depreciation | $94,878 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $21,953 |
| Printing and publications | $0 |
| Other expenses | $3,284 |
| Total operating and administrative expenses | $358,640 |
| Contributions, gifts, grants paid | $609,436 |
| Total expenses and disbursements | $968,076 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| 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 | $14,645,773 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $14,645,773 |
| 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 | $336,834 |
| Total liabilities | $336,834 |
Grants Awarded
Over the last fiscal year, Montgomery Family Foundation Inc has awarded $609,436 in support to 25 organizations.
| Grant Recipient | Amount |
|---|---|
ABAC FOUNDATION PURPOSE: VARIOUS CHARITABLE PROGRAM ACTIVITIES | $9,482 |
CHOPIN SOCIETY OF ATLANTA PURPOSE: VARIOUS CHARITABLE PROGRAM ACTIVITIES | $10,000 |
BERRY COLLEGE FOUNDATION PURPOSE: UNDERGRADUATE FINANCIAL ASSISTANCE | $1,000 |
FLUVANNA CORRECTIONAL CENTER FO WOMEN PURPOSE: VARIOUS CHARITABLE PROGRAM ACTIVITIES | $173 |
AUBURN UNIVERSITY FOUNDATION PURPOSE: VARIOUS CHARITABLE PROGRAM ACTIVITIES | $458,564 |
GARZA COUNTY HISTORICAL MUSEUM PURPOSE: VARIOUS CHARITABLE PROGRAM ACTIVITIES | $2,000 |