M W Smith Jr Foundation
- Assets
- $3.5m
- Revenue
- $862.1k
- Investments
- $3.4m
- Employees
- 0
- Location
- Mobile, AL
- Founding
- 06/1962
- Data as of
- 06/2024
- EIN
- 63-6018078
Organization Overview
M W Smith Jr Foundation is located in Mobile, AL. The organization was established in 1962. 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. M W Smith Jr 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 06/2024, M W Smith Jr Foundation generated $862.1k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 25.2% each year . All expenses for the organization totaled $197.6k during the year ending 06/2024. While expenses have increased by 0.2% 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, M W Smith Jr Foundation has awarded 163 individual grants totaling $1,320,692. 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 |
|---|---|---|---|
Regions Bank Trustee | 1 | $4,263 | |
Mary Martin Riser Chairperson | 2 | $1,729 | |
Malcolm Pearson Committee Member | 1 | $0 | |
Sandy Smith Committee Member/secretary | 4 | $2,193 | |
Marshall Riser Committee Member | 1 | $1,192 | |
Malcolm W Smith Committee Member | 1 | $1,192 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $72,059 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $789,814 |
| Capital Gain Net Income | $789,814 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $187 |
| Total Revenue | $862,060 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $10,569 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $7,120 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $4,626 |
| Total operating and administrative expenses | $46,394 |
| Contributions, gifts, grants paid | $151,192 |
| Total expenses and disbursements | $197,586 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $65,995 |
| Savings and temporary cash investments | $0 |
| 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 | $3,507,223 |
| 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, M W Smith Jr Foundation has awarded $151,192 in support to 14 organizations.
| Grant Recipient | Amount |
|---|---|
ALABAMA PUBLIC RADIO PURPOSE: COMMUNITY EDUCATION | $2,000 |
KINGS KIDS FOUNDATION INC PURPOSE: COMMUNITY WELFARE | $5,000 |
MONROE COUNTY PUBLIC LIBRARY PURPOSE: COMMUNITY EDUCATION | $5,000 |
MONROEVILLE AREA YMCA PURPOSE: COMMUNITY WELFARE | $5,000 |
THOMASVILLE HEALTHCARE FOUNDATION PURPOSE: COMMUNITY WELFARE | $35,000 |
FAIRHOPE FILM FESTIVAL PURPOSE: COMMUNITY PROMOTION OF ARTS | $15,000 |