Mcdermott Private Foundation
- Assets
- $295.3k
- Revenue
- $5.6k
- Investments
- $282.4k
- Employees
- 0
- Location
- North Palm Beach, FL
- Founding
- 10/1997
- Data as of
- 09/2023
- EIN
- 65-6062921
Organization Overview
Mcdermott Private Foundation is located in North Palm Beach, FL. The organization was established in 1997. 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. Mcdermott Private 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 09/2023, Mcdermott Private Foundation generated $5.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (16.6%) each year. All expenses for the organization totaled $38.5k during the year ending 09/2023. You can explore the organizations financials more deeply in the financial statements section below.
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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $13,987 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$8,435 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $5,552 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $4,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $2,698 |
| Total operating and administrative expenses | $27,623 |
| Contributions, gifts, grants paid | $10,836 |
| Total expenses and disbursements | $38,459 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $11,801 |
| Savings and temporary cash investments | $1,035 |
| 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 | $42,405 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $295,283 |
| 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, Mcdermott Private Foundation has awarded $10,836 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
ST CATHERINE UNIVERSITY PURPOSE: SUPPORT FOR GENERAL EDUCATIONAL PURPOSES | $2,709 |
ST CLARE'S SCHOOL PURPOSE: EDUCATIONAL | $2,709 |
CONVENT OF VISITATION PURPOSE: RELIGIOUS DONATION | $2,709 |
DOCTORS WITHOUT BORDERS PURPOSE: SUPPORT THE PROVIDING OF MEDICAL CARE | $2,709 |