Maxcy Foundation Inc
- Assets
- $889.5k
- Revenue
- $48.6k
- Investments
- $855.9k
- Employees
- 0
- Location
- Lake Wales, FL
- Founding
- 05/1945
- Data as of
- 02/2024
- EIN
- 59-6137284
Organization Overview
Maxcy Foundation Inc is located in Lake Wales, FL. The organization was established in 1945. 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. Maxcy 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 02/2024, Maxcy Foundation Inc generated $48.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (3.2%) each year. All expenses for the organization totaled $38.6k during the year ending 02/2024. As we would expect to see with falling revenues, expenses have declined by (17.1%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Maxcy Foundation Inc has awarded 11 individual grants totaling $161,800. 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
2024
Describe the Organization's Program Activity:
Part 3 - Line 4a
POLK EDUCATION FOUNDATION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cynthia Wilson Henry President | 0 | $0 | |
Terri Weeder Secre/treas | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $29,571 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $18,959 |
| Capital Gain Net Income | $7,567 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $51 |
| Total Revenue | $48,581 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $140 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $61 |
| Total operating and administrative expenses | $5,580 |
| Contributions, gifts, grants paid | $33,000 |
| Total expenses and disbursements | $38,580 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,406 |
| Savings and temporary cash investments | $27,124 |
| 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 | $889,478 |
| 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, Maxcy Foundation Inc has awarded $33,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
POLK EDUCATION FOUNDATION PURPOSE: EDUCATION | $31,000 |
FLORIDA WILDFLOWER STUDIOS PURPOSE: ARTS | $1,000 |
CITY OF FROSTPROOF - LIBRARY PURPOSE: EDUCATION | $1,000 |