Michelles Foundation Inc
- Assets
- $249.4k
- Revenue
- $214.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Key West, FL
- Founding
- 08/2013
- Data as of
- 12/2021
- EIN
- 45-4024035
Organization Overview
Michelles Foundation Inc is located in Key West, FL. The organization was established in 2013. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Michelles 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 12/2021, Michelles Foundation Inc generated $214.2k 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 (7.5%) each year. All expenses for the organization totaled $168.9k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (7.5%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Michelles Foundation Inc has awarded 191 individual grants totaling $1,673,832. 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
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION DISTRIBUTED FUNDS FOR THE BENEFIT OF SEVERAL SCHOLARSHIP AWARD RECIPIENTS FOR TUITION, TEXTBOOKS AND OTHER EDUCATION RELATED EXPENSES.
THE FOUNDATION BOTH ASSISTED AND DISTRIBUTED FUNDS TO VARIOUS 501(C)3 ORGANIZATIONS IN KEY WEST, FL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian C Schmitt Director | 0 | $0 | |
Michael Halpern President | 0 | $0 | |
Dona Merritt Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $214,167 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $214,167 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $4,076 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $120 |
| Total operating and administrative expenses | $6,941 |
| Contributions, gifts, grants paid | $161,979 |
| Total expenses and disbursements | $168,920 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $192,362 |
| 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 | $57,069 |
| Other assets | $0 |
| Total assets | $249,431 |
| 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, Michelles Foundation Inc has awarded $161,979 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
Key West, FL PURPOSE: TUITION BOOKS AND EDUCATION EXPENSES | $76,000 |
COLORADO STATE UNIVERSITY PURPOSE: TUITION BOOKS AND EDUCATION EXPENSES | $18,464 |
MISC GRANTS PURPOSE: EDUCATION | $13,257 |
KEY WEST WILDLIFE CENTER PURPOSE: EDUCATION | $10,000 |
KEY WEST HIGH SCHOOL PURPOSE: DONATION | $10,000 |
UNIVERSITY OF CENTRAL FLORIDA PURPOSE: TUITION BOOKS AND EDUCATION EXPENSES | $9,862 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Michelles Foundation Inc has recieved totaling $32,680.
| Awarding Organization | Amount |
|---|---|
Opl Charities Portsmouth, NH PURPOSE: General Operating Support | $32,680 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Georgia Goal Scholarship Program Inc Peachtree Corners, GA | $58,000,031 | $45,569,079 |
Georgia State University Athletic Association Inc Atlanta, GA | $12,025,331 | $28,251,593 |
Vinik Family Foundation Tampa, FL | $192,173,639 | $29,773,809 |
Hire Heroes Usa Alpharetta, GA | $7,840,449 | $13,205,192 |
Scholarships For Kids Inc Birmingham, AL | $21,791,162 | $14,541,038 |
Apogee Georgia School Choice Scholarship Fund Atlanta, GA | $21,549,156 | $14,581,744 |
Special Operations Warrior Foundation Tampa, FL | $175,400,415 | $16,396,122 |
Inspire Brands Foundation Inc Atlanta, GA | $11,528,068 | $11,993,911 |
Floridamakes Inc Orlando, FL | $1,478,174 | $9,967,367 |
Watson-Brown Foundation Inc Thomson, GA | $0 | $9,697,974 |
Alef Fund Inc Atlanta, GA | $10,107,377 | $6,194,898 |
Broward Education Foundation Inc Fort Lauderdale, FL | $12,469,303 | $5,256,121 |