Plough Foundation
- Assets
- $20.6m
- Revenue
- $6.5m
- Investments
- $18.1m
- Employees
- 0
- Location
- Memphis, TN
- Founding
- 10/1973
- Data as of
- 12/2023
- EIN
- 23-7175983
Organization Overview
Plough Foundation is located in Memphis, TN. The organization was established in 1973. 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. Plough 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 12/2023, Plough Foundation generated $6.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (7.4%) each year. All expenses for the organization totaled $6.2m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (13.4%) per year over the past 9 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Plough Foundation has awarded 509 individual grants totaling $200,451,270. 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 |
|---|---|---|---|
Diane Rudner Ceo/trustee | 20 | $0 | |
Johnny Moore Jr Trustee | 1 | $0 | |
Patricia Burnham Trustee | 1 | $0 | |
Peter Pettit Trustee | 1 | $0 | |
Sharon Eisenberg Trustee | 1 | $0 | |
Steve Wishnia Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Highland Capital Management Corp | 12/30/21 | $274,936 |
Southeastern Asset Management | 12/30/21 | $79,897 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $351,089 |
| Dividends & Interest | $298,912 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $5,865,828 |
| Capital Gain Net Income | $5,865,828 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $6,515,829 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $315,322 |
| Other employee salaries and wages | $34,305 |
| Pension plans, employee benefits | $84,922 |
| Interest | $0 |
| Taxes | $147,735 |
| Depreciation | $3,979 |
| Occupancy | $74,786 |
| Travel, conferences, and meetings | $1,646 |
| Printing and publications | $0 |
| Other expenses | $66,068 |
| Total operating and administrative expenses | $869,933 |
| Contributions, gifts, grants paid | $5,300,000 |
| Total expenses and disbursements | $6,169,933 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $39,770 |
| Savings and temporary cash investments | $2,479,956 |
| 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 | $20,582,280 |
| 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, Plough Foundation has awarded $5,300,000 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
FACING HISTORY AND OURSELVES PURPOSE: PROGRAM SUPPORT | $400,000 |
MEMPHIS BROOKS MUSEUM OF ART PURPOSE: PROGRAM SUPPORT | $200,000 |
MEMPHIS LIBRARY FOUNDATION PURPOSE: PROGRAM SUPPORT | $1,000,000 |
MEMPHIS SYMPHONY ORCHESTRA PURPOSE: PROGRAM SUPPORT | $200,000 |
METROPOLITAN INTER-FAITH ASSOCIATION (MIFA) PURPOSE: PROGRAM SUPPORT | $1,500,000 |
YOUTH VILLAGES PURPOSE: PROGRAM SUPPORT | $2,000,000 |