Marcotte Family Foundation Inc
- Assets
- $5.8m
- Revenue
- $537.2k
- Investments
- $5.8m
- Employees
- 0
- Location
- Asheville, NC
- Founding
- 03/2016
- Data as of
- 12/2023
- EIN
- 47-5643080
Organization Overview
Marcotte Family Foundation Inc is located in Asheville, NC. The organization was established in 2016. 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. Marcotte 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 12/2023, Marcotte Family Foundation Inc generated $537.2k 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 (9.7%) each year. All expenses for the organization totaled $364.8k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Marcotte Family Foundation Inc has awarded 156 individual grants totaling $1,953,004. 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 |
|---|---|---|---|
Richard J Marcotte Director/president/treasurer | 2 | $0 | |
Carole E Marcotte Director/vp/secretary | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $35,930 |
| Dividends & Interest | $129,217 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $370,193 |
| Capital Gain Net Income | $370,193 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,846 |
| Total Revenue | $537,186 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $13 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $312 |
| Total operating and administrative expenses | $35,156 |
| Contributions, gifts, grants paid | $329,663 |
| Total expenses and disbursements | $364,819 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $72,562 |
| Savings and temporary cash investments | $0 |
| 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 | $3,940,259 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $5,825,942 |
| 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, Marcotte Family Foundation Inc has awarded $329,663 in support to 19 organizations.
| Grant Recipient | Amount |
|---|---|
BLUE RIDGE PUBLIC RADIO (NPR) PURPOSE: PROGRAM SERVICES | $5,000 |
CONSERVATION TRUST OF NORTH CAROLINA PURPOSE: PROGRAM OPERATIONS | $5,000 |
DOWN SYNDROME ASSOCIATION OF MINNESOTA PURPOSE: PROGRAM OPERATIONS | $5,150 |
MS SOCIETY OF EASTERN NC PURPOSE: PROGRAM SERVICES | $1,060 |
FOOD CONNECTIONS INC PURPOSE: PROGRAM SERVICES | $50,000 |
NUEVA GENERACION PURPOSE: PROGRAM OPERATIONS | $1,500 |