Midgard Foundation
- Assets
- $1.8m
- Revenue
- $446.5k
- Investments
- $1.8m
- Employees
- 0
- Location
- Asheville, NC
- Founding
- 08/1966
- Data as of
- 12/2021
- EIN
- 13-6206619
Organization Overview
Midgard Foundation is located in Asheville, NC. The organization was established in 1966. 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. Midgard 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, Midgard Foundation generated $446.5k in total revenue. All expenses for the organization totaled $183.4k during the year ending 12/2021.
Since 2020, Midgard Foundation has awarded 44 individual grants totaling $304,500. 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.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Phillip C Broughton Jr President | 5 | $0 | |
David L Smith Treasurer | 5 | $0 | |
Margaret Crockett Secretary | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $61,735 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $384,798 |
| Capital Gain Net Income | $384,798 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $446,533 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $2,879 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $2,428 |
| Total operating and administrative expenses | $13,424 |
| Contributions, gifts, grants paid | $170,000 |
| Total expenses and disbursements | $183,424 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $26,853 |
| Savings and temporary cash investments | $13,321 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,795,766 |
| 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, Midgard Foundation has awarded $170,000 in support to 23 organizations.
| Grant Recipient | Amount |
|---|---|
ASHEVILLE ART MUSEUM PURPOSE: OPERATIONAL SUPPORT | $40,000 |
Asheville, NC PURPOSE: OPERATIONAL SUPPORT | $25,000 |
Asheville, NC PURPOSE: OPERATIONAL SUPPORT | $20,000 |
UNIVERSITY OF NORTH CAROLINA AT ASHEVILLERW WEATHERHEAD SCHOLARSHIPS PURPOSE: WEATHERHEAD SCHOLARSHIPS | $20,000 |
Asheville, NC PURPOSE: OPERATIONAL SUPPORT | $10,000 |
WARREN WILSON COLLEGERW WEATHERHEAD PURPOSE: WEATHERHEAD SCHOLARSHIPS | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Trousdale Foundation Inc Cleveland, TN | $157,578,588 | $76,137,385 |
The United Methodist Retirement Homes Inc Durham, NC | $351,992,425 | $85,120,969 |
The Murray & Sydell Rosenberg Foundation Inc Atlanta, GA | $5,561,714 | $74,985,544 |
Joseph B Whitehead Foundation Atlanta, GA | $148,285,590 | $58,163,845 |
Winshape Foundation Inc Atlanta, GA | $1,733,664,901 | $22,099,572 |
A Good Name Foundation Inc Atlanta, GA | $709,299,721 | $33,917,740 |
Jane Woodruff Foundation Inc Atlanta, GA | $0 | $54,999,988 |
Ups Foundation Inc Atlanta, GA | $8,317,427 | $54,799,163 |
Claws Foundation Reston, VA | $37,055,234 | $1,734,426 |
Dogwood Health Trust Asheville, NC | $1,386,374,836 | $630,200,598 |
Jack Kent Cooke Foundation Lansdowne, VA | $883,502,508 | $42,942,790 |
O Wayne Rollins Foundation Atlanta, GA | $468,654,801 | $21,609,282 |