Monroe Welfare Foundation
- Assets
- $1.2m
- Revenue
- $73.4k
- Investments
- $955.0k
- Employees
- 0
- Location
- Fernandina Beach, FL
- Founding
- 12/1953
- Data as of
- 05/2024
- EIN
- 58-6033825
Organization Overview
Monroe Welfare Foundation is located in Fernandina Beach, FL. The organization was established in 1953. 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. Monroe Welfare 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 05/2024, Monroe Welfare Foundation generated $73.4k in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 0.3% each year. All expenses for the organization totaled $114.4k during the year ending 05/2024. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Monroe Welfare Foundation has awarded 95 individual grants totaling $476,683. 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 |
|---|---|---|---|
William J Monroe III Trustee | 1 | $0 | |
Moi M Monroe III Trustee | 5 | $0 | |
Carolyn Hopkins Trustee | 1 | $0 | |
Cheryl Monroe Trustee | 1 | $0 | |
William J Monroe Jr Trustee | 1 | $0 | |
Hannah Franklin Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $2,309 |
| Dividends & Interest | $71,042 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $106,390 |
| Net ST Capital Gain | $12,649 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $73,351 |
| 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 | $10 |
| Total operating and administrative expenses | $20,370 |
| Contributions, gifts, grants paid | $94,070 |
| Total expenses and disbursements | $114,440 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $249,991 |
| 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 | $1,204,974 |
| 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 | $139 |
| Total liabilities | $139 |
Grants Awarded
Over the last fiscal year, Monroe Welfare Foundation has awarded $94,070 in support to 25 organizations.
| Grant Recipient | Amount |
|---|---|
KINGDOM CARE PURPOSE: EXEMPT PURPOSE | $5,000 |
CHILDERS FAMILY YMCA PURPOSE: EXEMPT PURPOSE | $7,000 |
BRANTLEY COUNTY BOE PURPOSE: EXEMPT PURPOSE | $12,000 |
HOOVES OF FREEDOM PURPOSE: EXEMPT PURPOSE | $1,200 |
OKEFENOKEE FCA PURPOSE: EXEMPT PURPOSE | $500 |
CHILDRENS TUMOR FOUNDATION PURPOSE: EXEMPT PURPOSE | $3,000 |