Frank Mchugh-Odonovan Foundation Inc
- Assets
- $63.2m
- Revenue
- $3.4m
- Investments
- $45.0m
- Employees
- 0
- Location
- Wilmington, DE
- Founding
- 08/2004
- Data as of
- 12/2022
- EIN
- 20-0842449
Organization Overview
Frank Mchugh-Odonovan Foundation Inc is located in Wilmington, DE. The organization was established in 2004. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Frank Mchugh-Odonovan 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 12/2022, Frank Mchugh-Odonovan Foundation Inc generated $3.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (5.0%) each year. All expenses for the organization totaled $6.7m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Frank Mchugh-Odonovan Foundation Inc has awarded 272 individual grants totaling $26,259,988. 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 |
|---|---|---|---|
Celina Mchugh Dir | 1 | $0 | |
Frank Mchugh Ceo, Dir | 1 | $0 | |
Patricia Mchugh Dir, CEO | 1 | $0 | |
Theresa M Mchugh Dir, Sec, VP | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Morgan Stanley | 12/30/22 | $158,431 |
Wells Fargo | 12/30/22 | $156,065 |
Foundation Source | 12/30/22 | $124,091 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $33,994 |
| Interest on Savings | $24,312 |
| Dividends & Interest | $1,374,441 |
| Net Rental Income | $62,722 |
| Net Gain on Sale of Assets | $717,931 |
| Capital Gain Net Income | $377,931 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $315,406 |
| Total Revenue | $3,382,493 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $417,847 |
| Depreciation | $211,754 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $448,904 |
| Total operating and administrative expenses | $1,445,171 |
| Contributions, gifts, grants paid | $5,236,000 |
| Total expenses and disbursements | $6,681,171 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $4,755,575 |
| 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 | $13,448,469 |
| Investments—mortgage loans | $3,354,926 |
| Investments—other | $6,152,164 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $63,208,805 |
| 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 | $63,610 |
| Total liabilities | $63,610 |
Grants Awarded
Over the last fiscal year, Frank Mchugh-Odonovan Foundation Inc has awarded $5,236,000 in support to 27 organizations.
| Grant Recipient | Amount |
|---|---|
BALLONA WETLANDS LAND TRUST PURPOSE: NATURE FIELD TRIPS FUND FOR LOW-INCOME ELEMENTARY STUDENTS, COMMUNITY OUTREACH PROGRAM, AND RESEARCH FUND | $6,826 |
APOPO US INC PURPOSE: CLEARING LANDMINES NEAR RURAL CAMBODIAN SCHOOLS | $75,000 |
CATHOLIC COMMUNITY FOUNDATION OF LOS ANGELES PURPOSE: GENERAL & UNRESTRICTED | $75,000 |
EL NIDO FAMILY CENTERS PURPOSE: SOUTH LA FAMILYSOURCE CENTERS AND JORDAN DOWNS SERVICES: EDUCATIONAL AND HOLISTIC SUPPORT FOR CHILDREN/YOUTH AND FAMILIES | $50,000 |
FRIENDS OF THE LOS ANGELES RIVER PURPOSE: THE FOLAR RESILIENCE LAB AT THE HARVARD-WESTLAKE RIVER PARK CAMPUS | $50,000 |
DIY GIRLS PURPOSE: GENERAL & UNRESTRICTED | $50,000 |