Westmoreland Davis Memorial Foundation Inc
- Assets
- $19.6m
- Revenue
- $4.0m
- Investments
- $2.5m
- Employees
- 0
- Location
- Leesburg, VA
- Founding
- 03/1957
- Data as of
- 12/2023
- EIN
- 13-6170029
Organization Overview
Westmoreland Davis Memorial Foundation Inc is located in Leesburg, VA. The organization was established in 1957. 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. Westmoreland Davis Memorial Foundation Inc 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, Westmoreland Davis Memorial Foundation Inc generated $4.0m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of 0.0% each year. All expenses for the organization totaled $4.4m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
MORVEN PARK MAINTENANCE, RESTORATION AND IMPROVEMENTS
MORVEN PARK EVENTS
HISTORY, EDUCATION AND RECREATIONAL PROGRAMS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary Lou Leipheimer President | 1 | $0 | |
Michael O'connor Trustee | 1 | $0 | |
Browning Herbert Treasurer | 1 | $0 | |
Stacey Metcalfe Executive Director, Secretary | 40 | $210,774 | |
Jim Mcdermott Vice President | 1 | $0 | |
Kari Murphy Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $3,036,290 |
| Interest on Savings | $0 |
| Dividends & Interest | $115,219 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$18,632 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $901,832 |
| Total Revenue | $4,034,709 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $210,774 |
| Other employee salaries and wages | $1,500,503 |
| Pension plans, employee benefits | $199,525 |
| Interest | $0 |
| Taxes | $131,012 |
| Depreciation | $775,209 |
| Occupancy | $162,144 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,469,458 |
| Total operating and administrative expenses | $4,448,625 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $4,448,625 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $506,317 |
| Savings and temporary cash investments | $582,038 |
| Net Accounts receivable | $240,720 |
| 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 | $706,758 |
| Net Land, buildings, and equipment | $15,707,553 |
| Other assets | $18,442 |
| Total assets | $19,586,755 |
| Accounts payable and accrued expenses | $114,933 |
| Grants payable | $0 |
| Deferred revenue | $11,669 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $315,774 |
| Total liabilities | $442,376 |