Massengill-Defriece Foundation Inc
- Assets
- $4.4m
- Revenue
- $215.5k
- Investments
- $4.0m
- Employees
- 0
- Location
- Bristol, TN
- Founding
- 08/1953
- Data as of
- 12/2022
- EIN
- 62-6044873
Organization Overview
Massengill-Defriece Foundation Inc is located in Bristol, TN. 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. Massengill-Defriece 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 12/2022, Massengill-Defriece Foundation Inc generated $215.5k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.6% each year. All expenses for the organization totaled $249.9k during the year ending 12/2022. While expenses have increased by 0.6% per year over the past 8 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.
Since 2015, Massengill-Defriece Foundation Inc has awarded 151 individual grants totaling $1,758,712. 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 |
|---|---|---|---|
C Thomas Davenport Jr President | 5 | $0 | |
C Richard Hagerstrom Jr Director | 5 | $0 | |
Paul E Defriece Director | 5 | $0 | |
Chet Sikorski Director | 5 | $0 | |
Stephen L Everhart Director | 5 | $0 | |
Ronan King Director | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $3,039 |
| Dividends & Interest | $62,916 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $149,550 |
| Capital Gain Net Income | $149,550 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $215,505 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $4,483 |
| Depreciation | $284 |
| Occupancy | $9,600 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,243 |
| Total operating and administrative expenses | $60,822 |
| Contributions, gifts, grants paid | $189,100 |
| Total expenses and disbursements | $249,922 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,379 |
| Savings and temporary cash investments | $311,727 |
| 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 | $2,462 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $1,684,970 |
| Net Land, buildings, and equipment | $1,846 |
| Other assets | $0 |
| Total assets | $4,368,312 |
| 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, Massengill-Defriece Foundation Inc has awarded $189,100 in support to 15 organizations.
| Grant Recipient | Amount |
|---|---|
BARTER THEATER PURPOSE: ARTS | $10,000 |
ARTS ALLIANCE MOUNTAIN EMPIRE PURPOSE: ARTS ACHIEVEMENT GALA | $10,000 |
BIRTHPLACE OF COUNTRY MUSIC MUSEUM PURPOSE: WOMEN IN EARLY MUSIC | $10,000 |
BRISTOL FOOD PANTRY PURPOSE: OPERATIONS | $5,000 |
BRISTOL HISTORICAL SOCIETY PURPOSE: RENT, MOVING | $3,000 |
COMMUNITIES IN SCHOOLS PURPOSE: YOUTH CASE MANAGEMENT | $5,000 |