Mcdaniel Charitable Foundation
- Assets
- $17.1m
- Revenue
- $332.7k
- Investments
- $6.0m
- Employees
- 0
- Location
- Hitchcock, TX
- Founding
- 09/1999
- Data as of
- 12/2022
- EIN
- 76-0538313
Organization Overview
Mcdaniel Charitable Foundation is located in Hitchcock, TX. The organization was established in 1999. 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. Mcdaniel Charitable 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, Mcdaniel Charitable Foundation generated $332.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (9.6%) each year. All expenses for the organization totaled $1.2m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Mcdaniel Charitable Foundation has awarded 83 individual grants totaling $2,240,561. 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
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED SCHOLARSHIPS TO STUDENTS AND SUPPORTED VARIOUS NON-PROFIT ORGANIZATIONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher Johnson President | 40 | $30,000 | |
Elizabeth Farrell Treasurer | 40 | $18,000 | |
Rachel Targac Director | 1 | $12,000 | |
Madison Garrett Director | 1 | $12,000 | |
Julie Barnett Secrty/schol Coord | 40 | $60,000 | |
Michelle Lyons Spier Director | 1 | $12,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $24,861 |
| Dividends & Interest | $174,395 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $165,042 |
| Capital Gain Net Income | $165,042 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | -$31,551 |
| Total Revenue | $332,747 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $234,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $52,671 |
| Interest | $0 |
| Taxes | $23,736 |
| Depreciation | $1,438 |
| Occupancy | $32,500 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $18,059 |
| Total operating and administrative expenses | $369,154 |
| Contributions, gifts, grants paid | $811,049 |
| Total expenses and disbursements | $1,180,203 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,649,503 |
| Savings and temporary cash investments | $2,172,519 |
| Net Accounts receivable | $47,562 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $6,240,268 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $16,589 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $5,007,487 |
| Net Land, buildings, and equipment | $2,579 |
| Other assets | $0 |
| Total assets | $17,100,196 |
| 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, Mcdaniel Charitable Foundation has awarded $811,049 in support to 26 organizations.
| Grant Recipient | Amount |
|---|---|
PASSED THRU ON EPP K-1 PURPOSE: CHARITABLE | $2 |
HIGHLAND LAKES CANINE RESCUE PURPOSE: ANIMAL RESCUE | $10,000 |
TEXAS A&M FOUNDATION PURPOSE: SCHOLARSHIPS | $12,000 |
YAGA'S CHILDRENS FUND PURPOSE: SERVE CHILDREN | $2,500 |
VENTURA COUNTY COMMUNITY FOUNDATION PURPOSE: SCHOLARSHIPS | $10,000 |
FIRST UNITED METHODIST CHURCH PURPOSE: SCHOLARSHIPS | $12,000 |