Cornelius And Lydiellen Hagan Foundation
- Assets
- $9.8m
- Revenue
- $1.7m
- Investments
- $8.2m
- Employees
- 0
- Location
- Alexandria, VA
- Founding
- 05/1997
- Data as of
- 12/2021
- EIN
- 91-1762315
Organization Overview
Cornelius And Lydiellen Hagan Foundation is located in Alexandria, VA. The organization was established in 1997. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Cornelius And Lydiellen Hagan 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 12/2021, Cornelius And Lydiellen Hagan Foundation generated $1.7m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 43.0% each year . All expenses for the organization totaled $613.3k during the year ending 12/2021. While expenses have increased by 3.6% per year over the past 4 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 2019, Cornelius And Lydiellen Hagan Foundation has awarded 137 individual grants totaling $2,359,269. 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
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ross Wood Board Member | 1 | $12,000 | |
Robert Blume Board Member | 1 | $12,000 | |
Roger Bragdon Board Chairman | 1 | $6,000 | |
Kathie Burch Board Member | 1 | $6,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $364 |
| Dividends & Interest | $100,268 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,640,736 |
| Capital Gain Net Income | $1,640,736 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,741,368 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $36,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $12,925 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $2,130 |
| Total operating and administrative expenses | $122,214 |
| Contributions, gifts, grants paid | $491,075 |
| Total expenses and disbursements | $613,289 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,689,380 |
| 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 | $5,075 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $9,844,591 |
| 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, Cornelius And Lydiellen Hagan Foundation has awarded $491,075 in support to 24 organizations.
| Grant Recipient | Amount |
|---|---|
ALMIRA SCHOOL DISTRICT PURPOSE: DISASTER FUNDS NEEDS | $124,000 |
SPOKANE SHOOL DISTRICT 81 PURPOSE: GLOVER MIDDLE SCHOOL | $37,389 |
SPOKANE SCHOOL DISTRICT 81 PURPOSE: JOHN ROGERS HIGH SCHOOL ESPORTS | $28,000 |
Spokane, WA PURPOSE: LEVEL UP PROGRAM | $26,970 |
NE WASHINGTON EDUCATIONAL DISTRICT 101 PURPOSE: NEEDS OF DISTRICT 101 | $25,000 |
SPOKANE SCHOOL DISTRICT 81 PURPOSE: ON TRACK ACADEMY STEAM PROGRAM | $23,491 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pyramid Peak Foundation Memphis, TN | $230,284,852 | $119,724,559 |
Diana Davis Spencer Foundation Bethesda, MD | $1,510,145,435 | $31,448,274 |
Davis Family Foundation Hanover, MD | $1,302,672,743 | $64,475,559 |
Bedford Falls Foundation C/O Joanne Barkett Conway Washington, DC | $61,666,880 | $84,617,094 |
The Rosser Foundation A Pure Charitable Trust And Public Charit Hampton, VA | $12,195,900 | $36,359,396 |
Poplar Foundation Memphis, TN | $149,801,224 | $18,419,294 |
Wallace Global Fund Ii Washington, DC | $136,169,792 | $23,961,855 |
John M Belk Endowment Charlotte, NC | $344,527,989 | $19,824,991 |
Plough Foundation Memphis, TN | $29,124,366 | $7,604,937 |
C D Spangler Foundation Inc Charlotte, NC | $547,764,463 | $34,692,558 |
De Beaumont Foundation Inc Bethesda, MD | $183,698,152 | $47,357,470 |
Haslam Family Foundation Inc Knoxville, TN | $7,594,271 | $428,205 |