M&c Somewhere Foundation
- Assets
- $2.1m
- Revenue
- $87.7k
- Investments
- $1.3m
- Employees
- 0
- Location
- Ripton, VT
- Founding
- 09/2016
- Data as of
- 12/2023
- EIN
- 81-6177315
Organization Overview
M&c Somewhere Foundation is located in Ripton, VT. The organization was established in 2016. 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. M&c Somewhere 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, M&c Somewhere Foundation generated $87.7k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 30.4% each year . All expenses for the organization totaled $734.6k during the year ending 12/2023. While expenses have increased by 5.4% per year over the past 8 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, M&c Somewhere Foundation has awarded 22 individual grants totaling $2,151,075. 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 |
|---|---|---|---|
Michael H Seligmann Trustee | 0.1 | $0 | |
Cynthia W Seligmann Trustee | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $79,249 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $8,489 |
| Capital Gain Net Income | $8,489 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $87,738 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $322 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $12,163 |
| Total operating and administrative expenses | $15,635 |
| Contributions, gifts, grants paid | $719,000 |
| Total expenses and disbursements | $734,635 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $38,738 |
| Savings and temporary cash investments | $811,853 |
| 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 | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $950,000 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $2,149,705 |
| 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, M&c Somewhere Foundation has awarded $719,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
MIDDLEBURY STUDIO SCHOOL PURPOSE: GENERAL FUND | $7,000 |
FRACTURED ATLAS PURPOSE: GENERAL FUND | $27,000 |
THE STRONGHOLD FUND PURPOSE: GENERAL FUND | $35,000 |
VERMONT COMMUNITY FOUNDATION PURPOSE: GENERAL FUND | $650,000 |