Mcconnell Foundation
- Assets
- $420.5m
- Revenue
- $29.3m
- Investments
- $297.9m
- Employees
- 0
- Location
- Redding, CA
- Founding
- 01/1965
- Data as of
- 12/2023
- EIN
- 94-6102700
Organization Overview
Mcconnell Foundation is located in Redding, CA. The organization was established in 1965. 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. Mcconnell 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, Mcconnell Foundation generated $29.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (7.2%) each year. All expenses for the organization totaled $27.4m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Mcconnell Foundation has awarded 971 individual grants totaling $80,446,688. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
SEE SUPPLEMENTAL INFORMATION.
SEE SUPPLEMENTAL INFORMATION.
SEE SUPPLEMENTAL INFORMATION.
SEE SUPPLEMENTAL INFORMATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Secretary | 10 | $30,000 | |
Name Not Listed President & CEO | 50 | $629,495 | |
Name Not Listed Chief Operating Officer | 50 | $353,970 | |
Name Not Listed Treasurer | 10 | $30,000 | |
Name Not Listed Chair Of The Board | 10 | $35,000 | |
Name Not Listed Director | 10 | $30,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Vestra Resources Inc | 12/30/23 | $1,516,944 |
Modern Building Inc | 12/30/23 | $1,532,359 |
Lsv Asset Management | 12/30/23 | $702,188 |
Peterson Timber Inc | 12/30/23 | $583,138 |
Trinity County Resource Conservation District | 12/30/23 | $590,939 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $3,166,138 |
| Interest on Savings | $18,668 |
| Dividends & Interest | $6,399,028 |
| Net Rental Income | $2,880,931 |
| Net Gain on Sale of Assets | $12,638,979 |
| Capital Gain Net Income | $6,934,193 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $4,193,577 |
| Total Revenue | $29,297,321 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $1,317,064 |
| Other employee salaries and wages | $2,875,193 |
| Pension plans, employee benefits | $1,525,944 |
| Interest | $76,812 |
| Taxes | $275,752 |
| Depreciation | $2,662,595 |
| Occupancy | $349,476 |
| Travel, conferences, and meetings | $100,540 |
| Printing and publications | $35,860 |
| Other expenses | $5,959,893 |
| Total operating and administrative expenses | $17,674,506 |
| Contributions, gifts, grants paid | $9,766,288 |
| Total expenses and disbursements | $27,440,794 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,200 |
| Savings and temporary cash investments | $6,395,800 |
| 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 | $1,795,540 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $40,838,389 |
| Investments—mortgage loans | $0 |
| Investments—other | $1,608,094 |
| Net Land, buildings, and equipment | $65,672,627 |
| Other assets | $7,896,934 |
| Total assets | $420,547,459 |
| Accounts payable and accrued expenses | $103,256 |
| Grants payable | $0 |
| Deferred revenue | $1,637,990 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $8,925,745 |
| Other liabilities | $3,438 |
| Total liabilities | $10,670,429 |
Grants Awarded
Over the last fiscal year, Mcconnell Foundation has awarded $9,780,004 in support to 132 organizations.
| Grant Recipient | Amount |
|---|---|
ACORN COMMUNITY ENTERPRISES PURPOSE: GENERAL FUNDS (MATCH TO DONATIONS MADE IN 2022) | $1,801 |
ADVANCE REDDING PURPOSE: PAYEE: PROJECT BANDALOOP 1601 18TH STREET OAKLAND, CA 94607 PUBLIC PERFORMANCE AT SUNDIAL BRIDGE CELEBRATE 20 | $23,750 |
ARIZONA STATE UNIVERSITY PURPOSE: 2021 MCCONNELL SCHOLARS ($7,251), 2018 MCCONNELL SCHOLARS ($15,612) | $22,863 |
ASCEND WILDERNESS EXPERIENCE PURPOSE: OPERATING COSTS FOR KIDS' SUMMER EXCURSIONS | $450 |
AXIOM REPERTORY THEATRE PURPOSE: SPONSORSHIP OF THE PLAY "THE TEMPEST" | $3,000 |
BELLA VISTA ELEMENTARY SCHOOL PURPOSE: IN-KIND DONATION OF IRRIGATION AND SOIL THE BELLA VISTA ELEMENTARY GARDEN CLUB | $874 |