The Montgomery Family Foundation
- Assets
- $198.8k
- Revenue
- -$14.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Wilmington, DE
- Founding
- 07/2014
- Data as of
- 12/2023
- EIN
- 46-1547931
Organization Overview
The Montgomery Family Foundation is located in Wilmington, DE. The organization was established in 2014. 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. Montgomery Family 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 12/2023, Montgomery Family Foundation generated -$14.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (7.0%) each year. All expenses for the organization totaled $157.0k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Montgomery Family Foundation has awarded 109 individual grants totaling $1,477,469. 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 |
|---|---|---|---|
Marlene Cogwin VP | 10 | $0 | |
Marie Cole Dir, VP | 1 | $0 | |
Michael Montgomery Dir, Sec, Pres | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $702 |
| Dividends & Interest | $4,893 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$20,073 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | -$14,478 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $131 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $18,081 |
| Total operating and administrative expenses | $21,522 |
| Contributions, gifts, grants paid | $135,500 |
| Total expenses and disbursements | $157,022 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $198,845 |
| 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 | $2 |
| Total assets | $198,847 |
| 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, The Montgomery Family Foundation has awarded $135,500 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
HARGRAVE MILITARY ACADEMY PURPOSE: SCHOLARSHIP FUND | $40,000 |
HARGRAVE MILITARY ACADEMY PURPOSE: STUDENTS IN NEED SCHOLARSHIP FUND | $42,000 |
SALEM LUTHERAN CHURCH PURPOSE: SECURITY UPGRADES TO SCHOOL BUILDING | $3,500 |
WATER 4 INC PURPOSE: TECHNICAL EXCELLENCE FUND | $50,000 |