Mgm Resorts Foundation
- Assets
- $8.6m
- Revenue
- $16.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Las Vegas, NV
- Founding
- 09/2002
- Data as of
- 12/2020
- EIN
- 01-0640027
Organization Overview
Mgm Resorts Foundation is located in Las Vegas, NV. The organization was established in 2002. According to its NTEE Classification (T30) the organization is classified as: Public 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.
For the year ending 12/2020, Mgm Resorts Foundation generated $16.7m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 18.7% each year . All expenses for the organization totaled $19.4m during the year ending 12/2020. While expenses have increased by 25.7% per year over the past 6 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, Mgm Resorts Foundation has awarded 638 individual grants totaling $26,924,473. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
THE MGM RESORTS FOUNDATION BRINGS THE BEST OF OUR EMPLOYEE VOLUNTEER AND CHARITABLE EFFORTS TOGETHER WITH GREATER IMPACT AND GREATER CHOICE. THE MGM RESORTS FOUNDATION FOCUSES EMPLOYEE CHARITABLE CONTRIBUTIONS TO NON-PROFIT AGENCIES AND COMMUNITY ORGANIZATIONS. THIS GIVES EMPLOYEES WHO SUPPORT THE FOUNDATION GREATER CONTROL AND IMPACT OVER THEIR DONATIONS AND THE ABILITY TO SUPPORT ORGANIZATIONS IN THE COMMUNITIES WE ALL LIVE, WORK AND CARE FOR OUR FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MGM RESORTS FOUNDATION CONSOLIDATES THE CHARITABLE GIVING EFFORTS OF THE MGM RESORTS INTERNATIONAL EMPLOYEES IN ORDER TO MAXIMIZE RESOURCES AND BENEFITS FOR THE COMMUNITIES IN WHICH THESE EMPLOYEES LIVE, WORK AND CARE FOR THEIR FAMILIES. THIS IS ACCOMPLISHED THROUGH PROVIDING GRANTS AND CHARITABLE DONATIONS TO CHARITIES IN THE EMPLOYEES' COMMUNITIES.
THE EMPLOYEE EMERGENCY GRANT (EEG) & CHILDREN'S MEDICAL SUPPORT FUND COMPRISE FUNDING ALLOCATED TO SUPPORT EMPLOYEES IN TIMES OF AN EMERGENCY. IT IS DESIGNED TO PROVIDE EMPLOYEES AND IMMEDIATE FAMILIES WITH SHORT-TERM ASSISTANCE DURING UNEXPECTED HARDSHIPS.. GRANTS ARE USED TO COVER HARDSHIP EXPENSES SUCH AS FOOD OR CLOTHING ASSISTANCE, TEMPORARY HOUSING, SUPPORT IN PAYING RENT, MORTGAGES OR UTILITIES, OR FOR MEDICAL OR HOSPITAL BILL PAYMENTS.
THE MGM RESORTS FOUNDATION CONSOLIDATES THE CHARITABLE GIVING EFFORTS OF THE MGM RESORTS INTERNATIONAL EMPLOYEES IN ORDER TO MAXIMIZE RESOURCES AND BENEFITS FOR THE COMMUNITIES IN WHICH THESE EMPLOYEES LIVE, WORK AND CARE FOR THEIR FAMILIES. THIS IS ACCOMPLISHED THROUGH PROVIDING GRANTS AND CHARITABLE DONATIONS TO CHARITIES IN THE EMPLOYEES' COMMUNITIES.
THE EMPLOYEE EMERGENCY GRANT (EEG) & CHILDREN'S MEDICAL SUPPORT FUND COMPRISE FUNDING ALLOCATED TO SUPPORT EMPLOYEES IN TIMES OF AN EMERGENCY. IT IS DESIGNED TO PROVIDE EMPLOYEES AND IMMEDIATE FAMILIES WITH SHORT-TERM ASSISTANCE DURING UNEXPECTED HARDSHIPS.. GRANTS ARE USED TO COVER HARDSHIP EXPENSES SUCH AS FOOD OR CLOTHING ASSISTANCE, TEMPORARY HOUSING, SUPPORT IN PAYING RENT, MORTGAGES OR UTILITIES, OR FOR MEDICAL OR HOSPITAL BILL PAYMENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tony Gladney Chair | OfficerTrustee | 2 | $0 |
Vesela Zehirev Director | OfficerTrustee | 36 | $0 |
Maria Jose Gatti Director | OfficerTrustee | 32 | $0 |
Jyotit Chopra Director | Trustee | 8 | $0 |
Rick Jost Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $6,025,424 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,637,660 |
| Noncash contributions included in lines 1a–1f | $25,424 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $16,663,084 |
| Total Program Service Revenue | $0 |
| Investment income | $2,372 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $16,665,456 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,755,330 |
| Grants and other assistance to domestic individuals. | $15,626,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $28,622 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $25,424 |
| Total functional expenses | $19,435,876 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,706,623 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $849,358 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,555,981 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $8,555,981 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $8,555,981 |
Grants Awarded
Over the last fiscal year, Mgm Resorts Foundation has awarded $7,450,660 in support to 192 organizations.
| Grant Recipient | Amount |
|---|---|
UNDER 5000 | | | $505,042 |
UNDER 5000 | | | $505,042 |
Las Vegas, NV | | $146,371 |
Las Vegas, NV | | $146,371 |
Las Vegas, NV | | $124,234 |
Las Vegas, NV | | $124,234 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Mgm Resorts Foundation has recieved totaling $105,000.
| Awarding Organization | Amount |
|---|---|
Salem Foundation Providence, RI PURPOSE: BRINGS THE BEST OF OUR EMPLOYEE VOLUNTEER AND CHARITABLE EFFORTS TOGETHER WITH GREATER IMPACT ANDGREATER CHOICE. THE MGM RESORTS FOUNDATION FOCUSES EMPLOYEE CHARITABLE CONTRIBUTIONS TO NONPROFITAGENCIES AND COMMUNITY ORGANIZATIONS. | $100,000 |
Jdm Foundation Inc Burbank, CA PURPOSE: TO PROVIDE EMPLOYEES AND IMMEDIATE FAMILIES WITH SHORT-TERM ASSISTANCE DURING UNEXPECTED TO PROVIDE EMPLOYEES AND IMMEDIATE FAMILIES WITH SHORT-TERM ASSISTANCE DURING UNEXPECTED HARDSHIPS | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Second Harvest Of The Greater Valley Manteca, CA | $6,868,918 | $46,568,235 |
The Clear Fund Oakland, CA | $43,908,385 | $51,079,383 |
The Albertsons Companies Foundation Pleasanton, CA | $41,450,438 | $46,344,229 |
Gary Sinise Foundation Los Angeles, CA | $51,598,916 | $42,908,528 |
Community Initiatives Oakland, CA | $32,963,465 | $33,654,695 |
St Baldricks Foundation Inc Monrovia, CA | $32,038,039 | $26,306,485 |
Gofundme Org Los Altos, CA | $3,296,431 | $30,792,768 |
Fullerton Family Foundation Novato, CA | $0 | $1,583 |
Tides Network San Francisco, CA | $7,826,192 | $23,505,764 |
Five For The Fight Foundation Provo, UT | $4,391,094 | $26,523,858 |
Skid Row Housing Trust Los Angeles, CA | $140,703,379 | $20,933,705 |
Mgm Resorts Foundation Las Vegas, NV | $8,555,981 | $16,665,456 |