Mcgee Foundation
- Assets
- $1.2m
- Revenue
- $60.1k
- Investments
- $1.1m
- Employees
- 0
- Location
- Detroit, MI
- Founding
- Data as of
- 08/2024
- EIN
- 45-6580885
Organization Overview
Mcgee Foundation is located in Detroit, MI. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mcgee 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 08/2024, Mcgee Foundation generated $60.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (19.3%) each year. All expenses for the organization totaled $82.0k during the year ending 08/2024. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Mcgee Foundation has awarded 20 individual grants totaling $300,000. 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
2024
Describe the Organization's Program Activity:
Part 3 - Line 4a
NONE
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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $36,888 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $23,202 |
| Capital Gain Net Income | $23,202 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $51 |
| Total Revenue | $60,141 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $21,655 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $208 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $95 |
| Total operating and administrative expenses | $21,958 |
| Contributions, gifts, grants paid | $60,000 |
| Total expenses and disbursements | $81,958 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $27,220 |
| 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 | $1,151,038 |
| 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, Mcgee Foundation has awarded $60,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN CANCER SOCIETY INC PURPOSE: SUPPORT OF DAILY ACTIVITIES | $15,000 |
ALZHEIMER DISEASE AND RELATED PURPOSE: SUPPORT OF DAILY ACTIVITIES | $15,000 |
AMERICAN HEART ASSOCIATION INC PURPOSE: SUPPORT OF DAILY ACTIVITIES | $15,000 |
AMERICAN NATIONAL RED CROSS PURPOSE: SUPPORT OF DAILY ACTIVITIES | $15,000 |