Michael W Mccarthy Foundation Inc
- Assets
- $6.0m
- Revenue
- $288.7k
- Investments
- $5.8m
- Employees
- 0
- Location
- Hauppauge, NY
- Founding
- 10/2007
- Data as of
- 12/2022
- EIN
- 26-0675307
Organization Overview
Michael W Mccarthy Foundation Inc is located in Hauppauge, NY. The organization was established in 2007. 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. Michael W Mccarthy 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, Michael W Mccarthy Foundation Inc generated $288.7k 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 (4.9%) each year. All expenses for the organization totaled $546.5k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (5.6%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Michael W Mccarthy Foundation Inc has awarded 131 individual grants totaling $1,269,379. 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 |
|---|---|---|---|
Patrick C Mccarthy President | 30 | $187,000 | |
Giovanna Mccarthy Vice President | 25 | $102,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $139,560 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $104,034 |
| Capital Gain Net Income | $110,495 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $45,057 |
| Total Revenue | $288,651 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $289,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $489 |
| Taxes | $23,743 |
| Depreciation | $1,092 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $2,252 |
| Printing and publications | $0 |
| Other expenses | $110,627 |
| Total operating and administrative expenses | $454,503 |
| Contributions, gifts, grants paid | $92,000 |
| Total expenses and disbursements | $546,503 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $217,705 |
| 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 | $19,648 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $175,957 |
| Net Land, buildings, and equipment | $1,637 |
| Other assets | $0 |
| Total assets | $6,021,345 |
| Accounts payable and accrued expenses | $414 |
| 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 | $414 |
Grants Awarded
Over the last fiscal year, Michael W Mccarthy Foundation Inc has awarded $92,000 in support to 16 organizations.
| Grant Recipient | Amount |
|---|---|
CHRISTMAS MAGIC PURPOSE: GENERAL OPERATING TO HELP PROVIDE HOLIDAY GIFTS TO UNDERPRIVILEGED CHILDREN THROUGHOUT ALL OF LONG ISLAND | $10,000 |
LICA PURPOSE: PROVIDE FINANCIAL SUPPORT FOR RESEARCH, FAMILY ASSITANCE AND EDUCATION REGARDING CYSTINOSIS | $2,500 |
UNSUNG SIBLINGS FOUNDATION PURPOSE: TO PROVIDE SERVICES TO CHILDREN WITH AN EMPHASIS ON ASSISTING FAMILIES IN NEED | $25,000 |
LEE AND AIDAN MCMAHON PURPOSE: TO PROVIDE SUPPORT TO RAISE MONEY FOR HOSPICE CARE AND TO HELP CHILDREN COPE WITH PASSING OF A LOVED ONE | $1,500 |
LIFE'S WORC PURPOSE: TO HELP FUND COMPREHENSIVE SUPPORT FOR PEOPLE WITH DEVELOPMENTAL DISABILITIES INCLUDING MENTAL RETARDATION AND AUTISM. | $5,000 |
MINISTRY OF HOPE PURPOSE: TO PROVIDE HELP TO INDIVIDUALS WHO CANNOT FIND HOUSING, COUNSELING AND OTHER SUPPORT. | $5,000 |