Jack C Massey Foundation
- Assets
- $29.3m
- Revenue
- $1.4m
- Investments
- $24.7m
- Employees
- 0
- Location
- Brentwood, TN
- Founding
- 10/1996
- Data as of
- 12/2022
- EIN
- 62-1649826
Organization Overview
Jack C Massey Foundation is located in Brentwood, TN. The organization was established in 1996. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Jack C Massey 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 12/2022, Jack C Massey Foundation generated $1.4m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 6.1% each year. All expenses for the organization totaled $2.7m during the year ending 12/2022. While expenses have increased by 12.3% per year over the past 4 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
NO PROGRAM ACTIVITIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Barbara Massey Rogers Co-Chair | 5 | $0 | |
Leonard H Armistead III Co-Chair | 5 | $0 | |
William A Shipp Jr President/ Director | 15 | $81,303 | |
James C Gooch Secretary/director | 5 | $25,000 | |
Jonathan A Shayne Vice President/director | 5 | $25,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $42,178 |
| Dividends & Interest | $453,534 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $895,732 |
| Capital Gain Net Income | $895,732 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $10,598 |
| Total Revenue | $1,402,042 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $131,303 |
| Other employee salaries and wages | $53,540 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $44,094 |
| Depreciation | $3,333 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $25,101 |
| Total operating and administrative expenses | $257,371 |
| Contributions, gifts, grants paid | $2,479,300 |
| Total expenses and disbursements | $2,736,671 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $313,660 |
| Savings and temporary cash investments | $4,279,469 |
| 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 | $51,674 |
| Other assets | $0 |
| Total assets | $29,333,691 |
| 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 |