Mitchell Foundation Inc
- Assets
- $15.8m
- Revenue
- $920.3k
- Investments
- $15.4m
- Employees
- 0
- Location
- Mobile, AL
- Founding
- 10/1958
- Data as of
- 01/2024
- EIN
- 63-0368954
Organization Overview
Mitchell Foundation Inc is located in Mobile, AL. The organization was established in 1958. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mitchell 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 01/2024, Mitchell Foundation Inc generated $920.3k in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 9.4% each year. All expenses for the organization totaled $1.0m during the year ending 01/2024. While expenses have increased by 2.8% 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.
Since 2021, Mitchell Foundation Inc has awarded 192 individual grants totaling $2,223,014. 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
THE FOUNDATION'S CHARTERED ACTIVITY IS TO DISTRIBUTE INCOME FOR EDUCATION, RELIGIOUS, SCIENTIFIC, LITERARY OR OTHER CHARITABLE PURPOSES.
THE FOUNDATION MADE DISTRIBUTIONS TO ELIGIBLE 501(C)(3) ORGANIZATIONS DURING THIS TAX YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Augustine Meaher III President | 6 | $45,000 | |
David D Dukes Sec/treas | 6 | $45,000 | |
Frank B Vinson Vice President | 6 | $30,000 | |
Helen B Meaher Director | 2 | $20,000 | |
Benjamin Vinson Director | 2 | $20,000 | |
Margaret L Meaher Assistant Sec/treas | 4 | $30,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $13,450 |
| Dividends & Interest | $420,112 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $486,783 |
| Capital Gain Net Income | $486,783 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $920,345 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $230,000 |
| Other employee salaries and wages | $40,000 |
| Pension plans, employee benefits | $0 |
| Interest | $116 |
| Taxes | $14,535 |
| Depreciation | $0 |
| Occupancy | $20,472 |
| Travel, conferences, and meetings | $3,251 |
| Printing and publications | $0 |
| Other expenses | $14,014 |
| Total operating and administrative expenses | $450,448 |
| Contributions, gifts, grants paid | $560,000 |
| Total expenses and disbursements | $1,010,448 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $426,663 |
| 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 | $15,828,078 |
| Accounts payable and accrued expenses | $6,830 |
| 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 | $6,830 |
Grants Awarded
Over the last fiscal year, Mitchell Foundation Inc has awarded $560,000 in support to 55 organizations.
| Grant Recipient | Amount |
|---|---|
ANIMAL MEDICAL CENTER PURPOSE: LLOYD FUND FOR GUIDE DOGS | $5,000 |
ANIMAL RESCUE FOUNDATION PURPOSE: OPERATING EXPENSES | $6,000 |
ATLAS MINISTRY PURPOSE: PROGRAM COSTS | $1,000 |
BELLINGRATH GARDENS & HOME PURPOSE: CAPITAL NEEDS | $15,000 |
BIG BROTHERS BIG SISTER OF S AL PURPOSE: PROGRAM COSTS | $6,500 |
CAMP SEAFARER PURPOSE: PROGRAM COSTS | $10,000 |