Bruce Mcmillan Jr Foundation Inc
- Assets
- $23.0m
- Revenue
- $2.1m
- Investments
- $20.5m
- Employees
- 0
- Location
- Overton, TX
- Founding
- 12/1952
- Data as of
- 06/2024
- EIN
- 75-0945924
Organization Overview
Bruce Mcmillan Jr Foundation Inc is located in Overton, TX. The organization was established in 1952. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, 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. Bruce Mcmillan Jr 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 06/2024, Bruce Mcmillan Jr Foundation Inc generated $2.1m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 9.4% each year. All expenses for the organization totaled $1.2m during the year ending 06/2024. While expenses have increased by 3.5% per year over the past 9 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Todd Meadows Pres/treas/dir | 20 | $70,500 | |
Rogers Pope Sr Chairman | 2 | $0 | |
Brenda Roach Sec/asst Treas | 40 | $87,659 | |
Rogers Pope Jr Vice Chairman | 2 | $0 | |
Tyree Collier Vice President | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $182,518 |
| Dividends & Interest | $349,678 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,250,105 |
| Capital Gain Net Income | $1,250,105 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $290,651 |
| Total Revenue | $2,072,952 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $182,703 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $91,557 |
| Depreciation | $88,063 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $62,461 |
| Total operating and administrative expenses | $610,965 |
| Contributions, gifts, grants paid | $603,109 |
| Total expenses and disbursements | $1,214,074 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $916,435 |
| 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 | $176,565 |
| Investments—mortgage loans | $0 |
| Investments—other | $1,620,419 |
| Net Land, buildings, and equipment | $1,420,774 |
| Other assets | $8,998 |
| Total assets | $23,044,000 |
| 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 |