Hughes Memorial Home
- Assets
- $5.2m
- Revenue
- $699.7k
- Investments
- $4.7m
- Employees
- 0
- Location
- Danville, VA
- Founding
- 04/1937
- Data as of
- 06/2024
- EIN
- 54-0519574
Organization Overview
Hughes Memorial Home is located in Danville, VA. The organization was established in 1937. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., 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. Hughes Memorial Home 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 06/2024, Hughes Memorial Home generated $699.7k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.9% each year. All expenses for the organization totaled $613.5k during the year ending 06/2024. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Hughes Memorial Home has awarded 863 individual grants totaling $6,805,645. 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
GRANT PROGRAM PROVIDES GRANTS AND COLLEGE SCHOLARSHIPS TO VARIOUS PUBLIC CHARITIES AND EDUCATIONAL INSITUTIONS WHICH SPECIFICALLY PROVIDE EDUCATION, CARE, TRAINING AND NUTURING TO NEEDY AND/OR AT-RISK CHILDREN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ray Beale Jr President | 5 | $0 | |
Rufus Lewis Vice President | 4 | $0 | |
Rodney Reynolds Treasurer | 4 | $0 | |
Becky Meadema Secretary | 1 | $0 | |
Brenna Takata Trustee | 4 | $0 | |
Edward Blount Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $94 |
| Interest on Savings | $2,557 |
| Dividends & Interest | $178,174 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $515,661 |
| Capital Gain Net Income | $515,661 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $3,239 |
| Total Revenue | $699,725 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $106,261 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $3,661 |
| Interest | $0 |
| Taxes | $25,183 |
| Depreciation | $1,875 |
| Occupancy | $5,393 |
| Travel, conferences, and meetings | $68 |
| Printing and publications | $0 |
| Other expenses | $79,838 |
| Total operating and administrative expenses | $237,817 |
| Contributions, gifts, grants paid | $375,688 |
| Total expenses and disbursements | $613,505 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $414,571 |
| 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 | $11,515 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $124,883 |
| Other assets | $0 |
| Total assets | $5,226,364 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $418,488 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $8,498 |
| Total liabilities | $426,986 |
Grants Awarded
Over the last fiscal year, Hughes Memorial Home has awarded $908,642 in support to 103 organizations.
| Grant Recipient | Amount |
|---|---|
AVERETT UNIVERSITY PURPOSE: EDUCATIONAL SCHOLARSHIPS TO DESERVING STUDENTS | $40,375 |
BIG BROTHERS BIG SISTERS PURPOSE: PROGRAM SERVICES | $4,539 |
BRIDGEWATER COLLEGE PURPOSE: EDUCATIONAL SCHOLARSHIPS TO DESERVING STUDENTS | $1,250 |
CAMPBELL UNIVERSITY PURPOSE: EDUCATIONAL SCHOLARSHIPS TO DESERVING STUDENTS | $750 |
CASWELL COUNTY PARISH PURPOSE: PROGRAM FUNDING FOR BACKPACKS | $25,724 |
CENTRAL VIRGINIA COMM COLLEGE PURPOSE: EDUCATIONAL SCHOLARSHIPS TO DESERVING STUDENTS | $1,000 |