Mcmullen Family Foundation
- Assets
- $19.5m
- Revenue
- $1.6m
- Investments
- $19.4m
- Employees
- 0
- Location
- Montclair, NJ
- Founding
- 10/1993
- Data as of
- 05/2022
- EIN
- 13-3721747
Organization Overview
Mcmullen Family Foundation is located in Montclair, NJ. The organization was established in 1993. 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. Mcmullen 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 05/2022, Mcmullen Family Foundation generated $1.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (6.1%) each year. All expenses for the organization totaled $1.1m during the year ending 05/2022. As we would expect to see with falling revenues, expenses have declined by (14.7%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2022, Mcmullen Family Foundation has awarded 31 individual grants totaling $827,500. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ilia Scriven Leased Employee Executive Director | 8 | $73,500 | |
Linda Drasheff Leased Employee Secretary | 4 | $26,500 | |
John J Mcmullen Jr Vice President | 0.1 | $0 | |
Patrick Gilmartin Director | 0.1 | $0 | |
Elise Mcmullen Director | 0.1 | $0 | |
Peter Mcmullen President | 1.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $47,936 |
| Dividends & Interest | $748,477 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $789,616 |
| Capital Gain Net Income | $789,616 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $14,254 |
| Total Revenue | $1,600,283 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $112,518 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $37,205 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $14,859 |
| Total operating and administrative expenses | $322,434 |
| Contributions, gifts, grants paid | $827,500 |
| Total expenses and disbursements | $1,149,934 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $25,958 |
| Savings and temporary cash investments | $0 |
| 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 | $1,217,331 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $19,475,099 |
| 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, Mcmullen Family Foundation has awarded $827,500 in support to 31 organizations.
| Grant Recipient | Amount |
|---|---|
US NAVAL ACADEMY FOUNDATION PURPOSE: SUPPORT THEIR ACTIVITIES | $200,000 |
KIPP NEW JERSEY PURPOSE: SUPPORT THEIR ACTIVITIES | $130,000 |
MONTCLAIR STATE UNIVERSITY PURPOSE: SUPPORT THEIR ACTIVITIES | $100,000 |
Montclair, NJ PURPOSE: SUPPORT THEIR ACTIVITIES | $60,000 |
THE SALVATION ARMY CITADEL PURPOSE: SUPPORT THEIR ACTIVITIES | $50,000 |
West Long Branch, NJ PURPOSE: SUPPORT THEIR ACTIVITIES | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
John R Oishei Foundation Buffalo, NY | $294,151,477 | $18,357,929 |
Lor Foundation Inc West Chester, PA | $352,392,197 | $12,888,892 |
Grable Foundation Pittsburgh, PA | $386,701,292 | $35,946,563 |
Connelly Foundation West Conshohocken, PA | $387,913,026 | $27,891,431 |
American Express Foundation New York, NY | $66,234,265 | $62,922,703 |
Essel Foundation Inc Purchase, NY | $100,106,056 | $12,292,478 |
Beth And Ravenel Curry Foundation New York, NY | $0 | $44,744,046 |
Kz Family Foundation New York, NY | $10,936,301 | $30,139,672 |
The Freeman Foundation P-01644-00-7 New York, NY | $343,405,683 | $35,941,951 |
Hearst Foundation Inc New York, NY | $439,249,947 | $42,040,987 |
Bay And Paul Foundations Inc Wilmington, DE | $33,659,644 | $890,121 |
Tansy Charitable Foundation New York, NY | $325,076,608 | $77,631,295 |