Mcginness Irrevocable Trust
- Assets
- $778.8k
- Revenue
- $23.8k
- Investments
- $751.7k
- Employees
- 0
- Location
- Las Vegas, NV
- Founding
- 04/2010
- Data as of
- 12/2023
- EIN
- 39-6796877
Organization Overview
Mcginness Irrevocable Trust is located in Las Vegas, NV. The organization was established in 2010. 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. Mcginness Irrevocable Trust 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, Mcginness Irrevocable Trust generated $23.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (10.0%) each year. All expenses for the organization totaled $59.3k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Mcginness Irrevocable Trust has awarded 18 individual grants totaling $186,998. 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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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $25,169 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$1,589 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $266 |
| Total Revenue | $23,846 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $12,959 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $280 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $14,300 |
| Contributions, gifts, grants paid | $45,000 |
| Total expenses and disbursements | $59,300 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $162 |
| Savings and temporary cash investments | $26,879 |
| 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 | $751,716 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $778,757 |
| 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, Mcginness Irrevocable Trust has awarded $45,000 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
THE SALVATION ARMY PURPOSE: GENERAL OPERATING | $1,667 |
THE SALVATION ARMY PURPOSE: GENERAL OPERATING | $5,833 |
SHEBOYGAN COUNTY HUMANE SOCIETY PURPOSE: GENERAL OPERATING | $5,833 |
SHEBOYBAN COUNTY HUMANE SOCIETY PURPOSE: GENERAL OPERATING | $1,667 |
SHEBOYGAN AREA SCHOOL DISTRICT PURPOSE: GENERAL OPERATING | $23,333 |
SHEBOYGAN PUBLIC EDU FUND PURPOSE: GENERAL OPERATING | $6,667 |