James W And Frances Gibson Mcglothlin Foundation
- Assets
- $55.5m
- Revenue
- $5.8m
- Investments
- $50.5m
- Employees
- 0
- Location
- Bristol, VA
- Founding
- 01/2009
- Data as of
- 12/2021
- EIN
- 26-3533035
Organization Overview
James W And Frances Gibson Mcglothlin Foundation is located in Bristol, VA. The organization was established in 2009. According to its NTEE Classification (T90) the organization is classified as: Named Trusts N.E.C., 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. James W And Frances Gibson Mcglothlin 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, James W And Frances Gibson Mcglothlin Foundation generated $5.8m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 30.8% each year . All expenses for the organization totaled $5.3m during the year ending 12/2021. While expenses have increased by 4.9% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, James W And Frances Gibson Mcglothlin Foundation has awarded 190 individual grants totaling $23,586,582. 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 |
|---|---|---|---|
James W Mcglothlin Chairman/director | 1 | $0 | |
Frances G Mcglothlin Vice Chairman/vp/secretary | 1 | $0 | |
Lois A Clarke President/ceo/director | 5 | $804 | |
Barbara Bjerke Treasurer | 1 | $0 | |
Claire Davis Executive Director/assistant Secretary | 1 | $28,269 | |
Sam F Ewing Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,000,400 |
| Interest on Savings | $49 |
| Dividends & Interest | $558,827 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $4,248,661 |
| Capital Gain Net Income | $4,248,876 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $5,807,937 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $108,633 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $17,493 |
| Interest | $0 |
| Taxes | $53,366 |
| Depreciation | $559 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $816,576 |
| Total operating and administrative expenses | $1,222,550 |
| Contributions, gifts, grants paid | $4,125,931 |
| Total expenses and disbursements | $5,348,481 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $76,570 |
| Savings and temporary cash investments | $1,278,100 |
| 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 | $1,137,948 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $13,834,050 |
| Net Land, buildings, and equipment | $6,583 |
| Other assets | $2,513,356 |
| Total assets | $55,479,136 |
| Accounts payable and accrued expenses | $52,126 |
| Grants payable | $1,596,709 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $13,940 |
| Total liabilities | $1,662,775 |
Grants Awarded
Over the last fiscal year, James W And Frances Gibson Mcglothlin Foundation has awarded $3,064,033 in support to 27 organizations.
| Grant Recipient | Amount |
|---|---|
ARTIS-NAPLES INC PURPOSE: SUPPORT PHILHARMONIC | $35,000 |
APPALACHIAN SCHOOL OF LAW PURPOSE: ASSIST LAW SCHOOL IN HIRING PROFESSORS, PROVIDING SCHOLARSHIPS AND INCREASING BAR PASSAGE | $100,000 |
BACKPACK BLESSINGS INC PURPOSE: BACKPACK PROGRAM OF BUCHANAN COUNTY, VA | $5,000 |
BOY SCOUTS OF AMERICA PURPOSE: SEQUOYAH COUNCIL CAPITAL PROGRAM - CAMP DAVY CROCKETT AND GENERAL SUPPORT | $35,000 |
BRISTOL VA PUBLIC SCHOOLS PURPOSE: GENERAL SUPPORT | $25,000 |
BRISTOL VA PUBLIC SCHOOLS EDUCATION FOUNDATION PURPOSE: STUDENT SCHOLARSHIPS | $37,500 |