Mcgowan Family Foundation Inc
- Assets
- $21.0m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Omaha, NE
- Founding
- 08/1996
- Data as of
- 12/2021
- EIN
- 47-0795668
Organization Overview
Mcgowan Family Foundation Inc is located in Omaha, NE. The organization was established in 1996. According to its NTEE Classification (X99) the organization is classified as: Religion-Related N.E.C., under the broad grouping of Religion-Related and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mcgowan Family 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, Mcgowan Family Foundation Inc generated $1.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.3% each year. All expenses for the organization totaled $1.3m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Mcgowan Family Foundation Inc has awarded 46 individual grants totaling $2,214,317. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO OPERATE EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, AND CARRY OUT THE PURPOSE OF THE OMAHA COMMUNITY FOUNDATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO ENGAGE IN RELIGIOUS, SCIENTIFIC, LITERARY, CHARITABLE OR EDUCATIONAL ACTIVITIES AS DESCRIBED IN SECTION 501(C)(3) OF THE IRS CODE OF 1986 (OR CORRESPONDING SECTION OF ANY FURTHER FEDERAL TAX LAW) NOT INCONSISTENT WITH THE PURPOSE OF THIS CORPORATION AS SET FORTH IN THE ARTICLES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cynthia Mcgowan President | OfficerTrustee | 1 | $0 |
Thomas Mcgowan Treasurer | OfficerTrustee | 4 | $0 |
Bruce Lauritzen Director | Trustee | 1 | $0 |
F William Karrer Director | Trustee | 1 | $0 |
Carolyn Hansen Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $301,054 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,273,169 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,574,223 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,159,509 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $65,942 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $88,606 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,314,057 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $323,135 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $20,658,611 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $20,981,746 |
| Accounts payable and accrued expenses | $16,932 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $16,932 |
| Net assets without donor restrictions | $20,964,814 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $20,981,746 |
Grants Awarded
Over the last fiscal year, Mcgowan Family Foundation Inc has awarded $1,142,669 in support to 25 organizations.
| Grant Recipient | Amount |
|---|---|
CREIGHTON PREP PURPOSE: Educational Institutions | $250,450 |
Omaha, NE PURPOSE: Health - General Rehabilitative | $250,000 |
Omaha, NE PURPOSE: Health - General Rehabilitative | $125,000 |
Omaha, NE PURPOSE: Agriculture, Food, Nutrition | $60,000 |
CHRIST THE KING CHURCH PURPOSE: Religion, Spiritual Development | $55,000 |
Fort Worth, TX PURPOSE: Educational Institutions | $47,969 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Good Neighbor Society Manchester, IA | $17,383,047 | $14,618,459 |
Holy Spirit Retirement Home Inc Sioux City, IA | $7,907,297 | $9,080,099 |
Brahmananda Saraswati Yagya Foundation Fairfield, IA | $15,294,355 | $10,246,793 |
Ssm Health Foundation St Louis St Louis, MO | $35,477,442 | $11,468,412 |
Catholic Social Services Lincoln, NE | $3,827,317 | $5,568,585 |
Faith Lutheran Home Osage, IA | $4,614,532 | $5,533,666 |
Missouri Baptist Childrens Home Bridgeton, MO | $28,799,310 | $5,163,780 |
Promise Keepers Colorado Springs, CO | $314,391 | $4,644,365 |
Mesa Valley Community School Grand Junction, CO | $4,974,586 | $4,247,839 |
Back To The Bible Lincoln, NE | $5,584,724 | $3,983,560 |
Bethesda Of Beresford Beresford, SD | $3,676,012 | $3,683,299 |
Emissaries Of Divine Light Loveland, CO | $13,649,759 | $2,104,017 |