Mardigian Foundation
- Assets
- $13.7m
- Revenue
- $2.9m
- Investments
- $12.6m
- Employees
- 0
- Location
- Detroit, MI
- Founding
- 10/1956
- Data as of
- 12/2022
- EIN
- 38-6048886
Organization Overview
Mardigian Foundation is located in Detroit, MI. The organization was established in 1956. 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. Mardigian 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 12/2022, Mardigian Foundation generated $2.9m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $3.6m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Mardigian Foundation has awarded 115 individual grants totaling $11,132,100. 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Edward S Mardigan President | 1 | $19,000 | |
Matthew Mardigan Treasurer | 1 | $19,000 | |
Grant Mardigan Secretary | 1 | $19,000 | |
Janet M Mardigan Vice President | 1 | $19,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $1,049,959 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,851,511 |
| Capital Gain Net Income | $1,851,511 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $32,984 |
| Total Revenue | $2,934,454 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $76,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $20,404 |
| Interest | $0 |
| Taxes | $29,315 |
| Depreciation | $0 |
| Occupancy | $40,613 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $986 |
| Total operating and administrative expenses | $366,690 |
| Contributions, gifts, grants paid | $3,271,500 |
| Total expenses and disbursements | $3,638,190 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $151,723 |
| Savings and temporary cash investments | $1,004,542 |
| 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 | $13,741,549 |
| 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, Mardigian Foundation has awarded $3,271,500 in support to 26 organizations.
| Grant Recipient | Amount |
|---|---|
ARMENIAN GENERAL BENEVOLENT PURPOSE: SUPPORT OF DAILY OPERATIONS | $62,000 |
FUND FOR ARMENIAN RELIEF PURPOSE: SUPPORT OF DAILY OPERATIONS | $1,160,000 |
EASTERN DIOCESE OF THE ARM EASTERN- PURPOSE: SUPPORT OF DAILY OPERATIONS | $1,000,000 |
ARMENIAN CHURCH OF THE HOLY TRANSLATORS PURPOSE: ACHT GOLD TOURNAMENT | $1,500 |
ARMENIAN TREE PROJECT PURPOSE: SUPPORT OF DAILY OPERATIONS | $2,500 |
FORGOTTEN HARVEST PURPOSE: SUPPORT FOR DAILY OPERATION | $5,000 |