Florence And William K Mcgee Jr Family Foundation
- Assets
- $25.3m
- Revenue
- $2.6m
- Investments
- $24.8m
- Employees
- 0
- Location
- Houston, TX
- Founding
- 01/1999
- Data as of
- 12/2023
- EIN
- 76-0585804
Organization Overview
Florence And William K Mcgee Jr Family Foundation is located in Houston, 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. Florence And William K Mcgee Jr Family 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 12/2023, Florence And William K Mcgee Jr Family Foundation generated $2.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 43.4% each year . All expenses for the organization totaled $1.8m during the year ending 12/2023. While expenses have increased by 44.4% per year over the past 7 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.
Since 2016, Florence And William K Mcgee Jr Family Foundation has awarded 133 individual grants totaling $6,745,500. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Florence W Mcgee President | 0 | $0 | |
Thomas Wells Mcgee Vice Preside | 0 | $0 | |
William Wells Mcgee Secretary/tr | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,000,339 |
| Interest on Savings | $16,544 |
| Dividends & Interest | $577,984 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $992,015 |
| Capital Gain Net Income | $992,015 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $5,519 |
| Total Revenue | $2,592,401 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $420 |
| Taxes | $55,677 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $130,413 |
| Total operating and administrative expenses | $211,194 |
| Contributions, gifts, grants paid | $1,600,000 |
| Total expenses and disbursements | $1,811,194 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $537,267 |
| Net Accounts receivable | $3,870 |
| 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 | $7,940 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $5,847,381 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $25,324,009 |
| Accounts payable and accrued expenses | $5 |
| 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 | $5 |
Grants Awarded
Over the last fiscal year, Florence And William K Mcgee Jr Family Foundation has awarded $1,600,000 in support to 30 organizations.
| Grant Recipient | Amount |
|---|---|
BO'S PLACE PURPOSE: GENERAL SUPPORT | $25,000 |
MENNINGER CLINIC PURPOSE: PATIENT ASSISTANCE FUND | $25,000 |
TEXAS CHILDREN'S HOSPITAL PURPOSE: ALZHEIMER/NEURODEGENERATIVE RESEARCH | $200,000 |
THE HEALTH MUSEUM PURPOSE: 2023 EDUCATION PROGRAMS | $10,000 |
COVENANT HOUSE TEXAS PURPOSE: HOUSING & SUPPORT FOR HOMELESS YOUTH | $30,000 |
HOUSTON ACHIEVEMENT PLACE PURPOSE: PROJECT CLASS | $10,000 |