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 represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (19.0%) each year. All expenses for the organization totaled $5.3m during the year ending 12/2021. 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 188 individual grants totaling $23,351,605. 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 |
|---|---|---|---|
Peggy Littleton Executive Director | 20 | $54,340 | |
Lois A Clarke President/ceo/director | 5 | $54,293 | |
James W Mcglothlin Chairman/director | 1 | $0 | |
R Brad Martin Director | 1 | $0 | |
Barbara Bjerke Treasurer | 1 | $0 | |
Martha Mcglothlin Bowman 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 $4,835,846 in support to 31 organizations.
| Grant Recipient | Amount |
|---|---|
Memphis, TN PURPOSE: SUPPORT FEDEX ST. JUDE INVITATIONAL FUNDRAISER | $1,000,000 |
WILLIAM & MARY BUSINESS SCHOOL FOUNDATION PURPOSE: SCHOLARSHIP FUND | $593,239 |
WILLIAM & MARY MARSHALL WYTHE SCHOOL OF LAW FOUNDATION PURPOSE: SCHOLARSHIP FUND | $593,239 |
Rochester, MN PURPOSE: MAYO MEDICAL SCHOOL GENERAL SCHOLARSHIP FUND | $400,000 |
Emory, VA PURPOSE: SCHOOL OF BUSINESS CURRICULUM FUNDING | $400,000 |
UPMC HILLMAN CANCER CENTER PURPOSE: FUND FOR HUMAN MELANOMA LAB RESEARCH | $400,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Claude Moore Charitable Foundation Fairfax, VA | $240,670,570 | $26,185,543 |
Community Anti-Drug Coalitions Of America Alexandria, VA | $15,283,034 | $14,789,686 |
Willis And Reba Johnsons Foundation Franklin, TN | $17,058,167 | $2,077,347 |
James W And Frances Gibson Mcglothlin Foundation Bristol, VA | $55,479,136 | $5,807,937 |
Yung Family Foundation The Crestview Hills, KY | $4,438,622 | $34,262 |
Madeline Foundation Baltimore, MD | $27,935,341 | $684,991 |
John Rex Endowment Raleigh, NC | $72,005,406 | $10,264,844 |
Elhapa Foundation Inc Lexington, KY | $43,489,972 | $1,635,816 |
Venable Baetjer And Howard Foundation Baltimore, MD | $411,758 | $3,720,067 |
Kolibri Foundation Inc Washington, DC | $25,943,036 | $16,488,107 |
George Wolf Memorial Intrvs Tr Ua 08082003 Washington, DC | $12,689,943 | $2,315,178 |
The Harvey M And Lyn P Meyerhoff Fund Inc Baltimore, MD | $35,059,295 | $6,016,350 |