Mgm Foundation Inc
- Assets
- $799.8k
- Revenue
- $71.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Conroe, TX
- Founding
- 12/2009
- Data as of
- 12/2021
- EIN
- 71-1049010
Organization Overview
Mgm Foundation Inc is located in Conroe, TX. The organization was established in 2009. 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. Mgm 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 12/2021, Mgm Foundation Inc generated $71.6k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 12.4% each year . All expenses for the organization totaled $21.8k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Mgm Foundation Inc has awarded 69 individual grants totaling $421,084. 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
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin G Mims Director | 2 | $0 | |
Robert G Mims Director | 2 | $0 | |
Katherine Mims Director | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $1,295 |
| Dividends & Interest | $15,585 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $54,718 |
| Capital Gain Net Income | $54,718 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $71,598 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| 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 | $10,267 |
| Total operating and administrative expenses | $13,517 |
| Contributions, gifts, grants paid | $8,250 |
| Total expenses and disbursements | $21,767 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,877 |
| Savings and temporary cash investments | $515,797 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $214,595 |
| Net other notes and loans receivable | $62,500 |
| 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 | $799,769 |
| 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, Mgm Foundation Inc has awarded $125,080 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
ST ANTHONY OF PADJUA CHURCH PURPOSE: CHARITABLE DONATION | $51,980 |
HOLY NAME PASSIONIST RETREAT CENTER PURPOSE: CHARITABLE DONATION | $23,000 |
STS SIMON & JUDE PURPOSE: CHARITABLE DONATION | $18,000 |
LIFE TEEN PURPOSE: CHARITABLE DONATION | $10,000 |
Houston, TX PURPOSE: CHARITABLE DONATION | $5,000 |
FRASSATI CATHOLIC HIGH SCHOOL PURPOSE: CHARITABLE DONATION | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Jane P And Wiley L Mossy Jr Foundation Houston, TX | $339,084 | $6,855,893 |
Gene And Jerry Jones Family-Dallas Cowboys Charities Frisco, TX | $3,095,461 | $7,273,707 |
Py Foundation Artesia, NM | $56,655,367 | $3,921,217 |
Marshall Legacy Foundation Metairie, LA | $37,157,594 | $21,197,543 |
Gods Light In The Darkness Foundation Carlbad, NM | $31,530,012 | $790,978 |
Marshall Heritage Foundation Metairie, LA | $15,210,686 | $21,134,216 |
Mary E Bivins Trust Amarillo, TX | $23,577,867 | $7,091,283 |
Norman H Read 1985 Trust Amarillo, TX | $61,022,769 | $8,703,971 |
Arlene And Joseph Meraux Charitable Foundation Violet, LA | $95,291,949 | $9,307,858 |
East Texas Medical Center Regional Healthcare System Tyler, TX | $164,248,819 | $57,646,365 |
Eugene V And Clare Thaw Charitable Trust Santa Fe, NM | $97,006,761 | $1,880,279 |
James A Buddy Davidson Charitable Foundation Midland, TX | $104,683,845 | $20,028,427 |