The George And Carol Olmsted Foundation
- Assets
- $46.0m
- Revenue
- $1.8m
- Investments
- $44.2m
- Employees
- 0
- Location
- Falls Church, VA
- Founding
- 11/1960
- Data as of
- 12/2023
- EIN
- 54-6049005
Organization Overview
The George And Carol Olmsted Foundation is located in Falls Church, VA. The organization was established in 1960. 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. George And Carol Olmsted 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, George And Carol Olmsted Foundation generated $1.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (4.9%) each year. All expenses for the organization totaled $2.7m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, George And Carol Olmsted Foundation has awarded 343 individual grants totaling $6,087,677. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
ANNUAL MEETING, REUNION AND RECEPTION
NEW SCHOLAR ORIENTATION
SCHOLAR ASSEMBLIES
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bruce K Scott President | 40 | $274,260 | |
Mark B Elfendahl Executive Vice President | 40 | $203,800 | |
Sean J Cosden Vice President | 40 | $164,000 | |
James G Foggo Chairman | 1 | $8,000 | |
Kurt W Tidd Director | 1 | $8,000 | |
Kristie A Kenney Director | 1 | $8,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $1,259,617 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $537,358 |
| Capital Gain Net Income | $537,358 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $18,593 |
| Total Revenue | $1,815,568 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $734,060 |
| Other employee salaries and wages | $106,024 |
| Pension plans, employee benefits | $37,206 |
| Interest | $0 |
| Taxes | $128,066 |
| Depreciation | $14,538 |
| Occupancy | $63,803 |
| Travel, conferences, and meetings | $47,737 |
| Printing and publications | $0 |
| Other expenses | $220,966 |
| Total operating and administrative expenses | $1,598,092 |
| Contributions, gifts, grants paid | $1,066,843 |
| Total expenses and disbursements | $2,664,935 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $658,509 |
| Savings and temporary cash investments | $1,084,317 |
| Net Accounts receivable | $38,274 |
| 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 | $5,480 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $35,855,340 |
| Net Land, buildings, and equipment | $2,017 |
| Other assets | $105,255 |
| Total assets | $46,049,159 |
| Accounts payable and accrued expenses | $56,185 |
| Grants payable | $836,834 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $194,209 |
| Total liabilities | $1,087,228 |
Grants Awarded
Over the last fiscal year, The George And Carol Olmsted Foundation has awarded $1,010,121 in support to 72 organizations.
| Grant Recipient | Amount |
|---|---|
ADAM CRIBB PURPOSE: GRANT YEAR 2, TUITION YEAR 1, SPOUSE LANGUAGE EXP | $12,760 |
AARON COLLETT PURPOSE: FAM TRIP EXP | $2,057 |
ANDREW BLOOD PURPOSE: FAM TRIP EXP, GRANT YEAR 1 | $8,267 |
ALEXANDER JEFFERIES PURPOSE: TUITION YEAR 1, GRANT YEAR 1, FAM TRIP EXP | $17,393 |
ANDREW CATOIRE PURPOSE: GRANT YEAR 2 | $7,000 |
BRANDON THOENNES PURPOSE: TUITION YEAR 1, GRANT YEAR 1, FAM TRIP EXP | $14,097 |