The George And Carol Olmsted Foundation
- Assets
- $53.1m
- Revenue
- $4.3m
- Investments
- $51.1m
- Employees
- 0
- Location
- Falls Church, VA
- Founding
- 11/1960
- Data as of
- 12/2021
- 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 12/2021, George And Carol Olmsted Foundation generated $4.3m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 5.6% each year. All expenses for the organization totaled $3.4m during the year ending 12/2021. While expenses have increased by 7.1% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, George And Carol Olmsted Foundation has awarded 203 individual grants totaling $3,884,757. 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 |
|---|---|---|---|
Bruce K Scott President | 40 | $253,547 | |
Mark B Elfendahl Executive Vice President | 40 | $165,413 | |
David G Estep Executive Vice President | 40 | $163,426 | |
Sean J Cosden Vice President | 40 | $63,955 | |
Patrick J Donahue Director | 1 | $8,000 | |
Tobias B Switzer Director | 1 | $8,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $1,229,653 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $3,035,876 |
| Capital Gain Net Income | $3,035,876 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $16,903 |
| Total Revenue | $4,282,432 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $736,341 |
| Other employee salaries and wages | $120,231 |
| Pension plans, employee benefits | $35,307 |
| Interest | $0 |
| Taxes | $49,228 |
| Depreciation | $13,627 |
| Occupancy | $67,891 |
| Travel, conferences, and meetings | $21,168 |
| Printing and publications | $0 |
| Other expenses | $271,942 |
| Total operating and administrative expenses | $1,587,043 |
| Contributions, gifts, grants paid | $1,813,613 |
| Total expenses and disbursements | $3,400,656 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $399,187 |
| Savings and temporary cash investments | $1,592,069 |
| 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 | $41,210,064 |
| Net Land, buildings, and equipment | $31,093 |
| Other assets | $4,421 |
| Total assets | $53,120,582 |
| Accounts payable and accrued expenses | $61,477 |
| Grants payable | $1,175,681 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $188,002 |
| Total liabilities | $1,425,160 |
Grants Awarded
Over the last fiscal year, The George And Carol Olmsted Foundation has awarded $1,801,643 in support to 64 organizations.
| Grant Recipient | Amount |
|---|---|
US MILITARY ACADEMY ASSOCIATION OF GRADUATES PURPOSE: UNDERGRADUATE TRAVEL & OLMSTED CENTENNIAL | $315,000 |
US NAVAL ACADEMY ALUMNI ASSOCIATION AND FOUNDATION PURPOSE: UNDERGRADUATE TRAVEL & OLMSTED CENTENNIAL | $315,000 |
US MILITARY ACADEMY ASSOCIATION OF GRADUATES PURPOSE: EDUCATIONAL: OLMSTED CENTENNIAL | $200,000 |
US NAVAL ACADEMY ALUMNI ASSOCIATION AND FOUNDATION PURPOSE: EDUCATIONAL: OLMSTED CENTENNIAL | $200,000 |
US AIR FORCE ACADEMY ASSOCIATION OF GRADUATES AND FOUNDATION PURPOSE: UNDERGRAD TRAVEL & STUDENT CONFERENCE | $115,000 |
Dahlonega, GA PURPOSE: UNDERGRADUATE IMMERSION TRAVEL | $26,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Abell Foundation Inc Baltimore, MD | $398,354,670 | $42,510,470 |
Cognizant Us Foundation Washington, DC | $53,711,221 | $1,081,755 |
J R Hyde Iii Foundation Memphis, TN | $230,354,058 | $26,306,779 |
Operating Engineers Trust Fund Of Washington D C & Vicinity Sparks, MD | $40,754,444 | $17,999,357 |
Humana Foundation Inc Louisville, KY | $467,311,073 | $9,744,567 |
C Kenneth And Dianne Wright Foundation Henrico, VA | $254,775 | $2,124,209 |
Kahlert Foundation Inc Sykesville, MD | $93,179,960 | $19,162,440 |
First Horizon Foundation Memphis, TN | $37,840,936 | $11,265,846 |
Families And Communities Rising Inc Durham, NC | $8,732,109 | $17,644,457 |
Charles A Cannon Charitable Trust N0 One Concord, NC | $132,429,020 | $9,552,538 |
Claude And Betty Harris Foundation Inc Louisville, KY | $58,528,117 | $25,952,323 |
P H P Inc Hopkinsville, KY | $1,933,207 | $15,725,161 |