Michaels Family Charitable Foundation Inc
- Assets
- $1.5m
- Revenue
- $75.4k
- Investments
- $1.5m
- Employees
- 0
- Location
- Atlanta, GA
- Founding
- 05/1999
- Data as of
- 12/2021
- EIN
- 58-2430856
Organization Overview
Michaels Family Charitable Foundation Inc is located in Atlanta, GA. The organization was established in 1999. According to its NTEE Classification (T21) the organization is classified as: Corporate 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. Michaels Family Charitable 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, Michaels Family Charitable Foundation Inc generated $75.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (18.8%) each year. All expenses for the organization totaled $107.2k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Michaels Family Charitable Foundation Inc has awarded 62 individual grants totaling $283,179. 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 |
|---|---|---|---|
Katharine Mcdowell Executive Director | 20 | $12,000 | |
Edward G Michaels IV Trustee | 5 | $0 | |
Joanne T Michaels Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $37,080 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $38,297 |
| Capital Gain Net Income | $38,297 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $75,377 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $12,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $564 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $2,430 |
| Printing and publications | $0 |
| Other expenses | $2,315 |
| Total operating and administrative expenses | $34,832 |
| Contributions, gifts, grants paid | $72,380 |
| Total expenses and disbursements | $107,212 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $55,649 |
| 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 | $1,516,444 |
| 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 | $16,467 |
| Total liabilities | $16,467 |
Grants Awarded
Over the last fiscal year, Michaels Family Charitable Foundation Inc has awarded $72,380 in support to 15 organizations.
| Grant Recipient | Amount |
|---|---|
New York, NY PURPOSE: UNRESTRICTED OPERATIONAL SUPPORT | $20,000 |
TEACH ON PURPOSE: UNRESTRICTED OPERATIONAL SUPPORT | $15,000 |
ATLANTA FAMILIES' AWARDS FOR EXCELLENCE IN EDUCATION PURPOSE: UNRESTRICTED OPERATIONAL SUPPORT | $10,000 |
Atlanta, GA PURPOSE: UNRESTRICTED OPERATIONAL SUPPORT | $7,500 |
Nashville, TN PURPOSE: UNRESTRICTED OPERATIONAL SUPPORT | $5,000 |
Lawrenceville, NJ PURPOSE: UNRESTRICTED OPERATIONAL SUPPORT | $2,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Southern Company Charitable Foundation Inc Atlanta, GA | $133,098,319 | $27,836,912 |
Burroughs Wellcome Fund Research Triangle Park, NC | $946,804,754 | $86,337,046 |
Dollywood Foundation Pigeon Forge, TN | $23,282,143 | $42,750,755 |
Blue Cross And Blue Shield Of North Carolina Foundation Durham, NC | $253,862,813 | $27,558,288 |
Harry T Mangurian Jr Foundation Inc Fort Lauderdale, FL | $88,622,200 | $12,675,522 |
Alabama Power Foundation Inc Birmingham, AL | $164,336,755 | $18,795,477 |
Tennessee Health Foundation Inc Chattanooga, TN | $243,056,353 | $3,261,329 |
Masters Tournament Foundation Inc Augusta, GA | $56,432,291 | $20,283,494 |
Assisi Foundation Of Memphis Inc Memphis, TN | $238,137,134 | $32,851,811 |
Caring Foundation Birmingham, AL | $70,981,159 | $5,434,235 |
Malone Family Foundation Hobe Sound, FL | $111,664,161 | $13,667,566 |
Ingersoll-Rand Charitable Foundation Davidson, NC | $949,422 | $5,202,263 |