Mfi Foundation
- Assets
- $26.2m
- Revenue
- $1.7m
- Investments
- $14.7m
- Employees
- 0
- Location
- Austin, TX
- Founding
- 11/1998
- Data as of
- 12/2022
- EIN
- 74-2882442
Organization Overview
Mfi Foundation is located in Austin, TX. The organization was established in 1998. 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. Mfi 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 12/2022, Mfi Foundation generated $1.7m 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 (7.0%) each year. All expenses for the organization totaled $1.2m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (2.5%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Mfi Foundation has awarded 466 individual grants totaling $10,092,359. 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 |
|---|---|---|---|
Thomas J Meredith Director | 2 | $0 | |
Lynn M Meredith Director | 10 | $0 | |
William B Meredith Director | 2 | $0 | |
Kathryn M Andrade Director | 6.5 | $15,697 | |
Sarah M Wells Director | 2 | $0 | |
Abigail M Armistead Director | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $458,774 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,215,933 |
| Capital Gain Net Income | $1,215,933 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | -$15,415 |
| Total Revenue | $1,659,292 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $15,697 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $4,596 |
| Taxes | $32,060 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $44,715 |
| Total operating and administrative expenses | $232,439 |
| Contributions, gifts, grants paid | $968,932 |
| Total expenses and disbursements | $1,201,371 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $181,540 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $946,138 |
| 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 | $10,351,732 |
| Total assets | $26,154,415 |
| 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, Mfi Foundation has awarded $968,932 in support to 56 organizations.
| Grant Recipient | Amount |
|---|---|
ALS ASSOCIATION PURPOSE: TO SUPPORT ORGANIZATION'S EXEMPT PURPOSE | $500 |
ANDY TALLEY BONE MARROW FOUNDATION PURPOSE: TO SUPPORT ORGANIZATION'S EXEMPT PURPOSE | $5,000 |
ANTI-DEFAMATION LEAGUE PURPOSE: TO SUPPORT ORGANIZATION'S EXEMPT PURPOSE | $2,500 |
ASSOCIATION OF FUND RAISING PROFESSIONALS PURPOSE: TO SUPPORT ORGANIZATION'S EXEMPT PURPOSE | $2,150 |
AUSTIN CHILD GUIDANCE CENTER PURPOSE: TO SUPPORT ORGANIZATION'S EXEMPT PURPOSE | $25,000 |
AUSTIN COMMUNITY FOUNDATION PURPOSE: TO SUPPORT ORGANIZATION'S EXEMPT PURPOSE | $106,000 |