Mcgee Foundation
- Assets
- $17.2m
- Revenue
- $5.8m
- Investments
- $15.9m
- Employees
- 0
- Location
- Charleston, WV
- Founding
- 01/1993
- Data as of
- 12/2021
- EIN
- 55-0720406
Organization Overview
Mcgee Foundation is located in Charleston, WV. The organization was established in 1993. 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. Mcgee 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, Mcgee Foundation generated $5.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 60.0% each year . All expenses for the organization totaled $1.0m during the year ending 12/2021. While expenses have increased by 28.3% per year over the past 7 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 2017, Mcgee Foundation has awarded 24 individual grants totaling $1,779,036. 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 |
|---|---|---|---|
John Kuykendall Davidson College Director | 1 | $25,000 | |
William Deberniere Mebane Jr Chairman & President | 1 | $8,000 | |
J Michael Hines Secretary | 1 | $8,000 | |
Emory Kinder Director | 1 | $6,000 | |
Stephen E Kawash CPA Treasurer | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $2,661 |
| Dividends & Interest | $681,702 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $5,139,017 |
| Capital Gain Net Income | $5,139,017 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | -$36,032 |
| Total Revenue | $5,787,348 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $47,000 |
| Other employee salaries and wages | $49,440 |
| Pension plans, employee benefits | $0 |
| Interest | $107 |
| Taxes | $2,316 |
| Depreciation | $0 |
| Occupancy | $18,000 |
| Travel, conferences, and meetings | $8,051 |
| Printing and publications | $0 |
| Other expenses | $36,719 |
| Total operating and administrative expenses | $355,316 |
| Contributions, gifts, grants paid | $680,245 |
| Total expenses and disbursements | $1,035,561 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,311,528 |
| 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 | $3,602,592 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $17,206,041 |
| 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, Mcgee Foundation has awarded $680,245 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
Charleston, WV PURPOSE: ECONOMIC DEVELOPMENT | $170,245 |
GREATER KANAWHA VALLEY FOUNDATION PURPOSE: DEVELOPING, IMPROVING, AND RESTORING ECONOMIC VITALITY IN THE WEST SIDE COMMUNITY | $150,000 |
Institute, WV PURPOSE: DIRECT BENEFIT FOR STUDENTS THROUGH NEEDS BASED SCHOLARSHIPS | $100,000 |
BLUEFIELD STATE UNIVERSITY PURPOSE: DIRECT BENEFIT FOR STUDENTS THROUGH NEEDS BASED SCHOLARSHIPS | $100,000 |
GLENVILLE STATE UNIVERSITY PURPOSE: DIRECT BENEFIT FOR STUDENTS THROUGH NEEDS BASED SCHOLARSHIPS | $100,000 |
Claremont, CA PURPOSE: SUPPORT TO ELIMINATE POVERTY | $60,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lor Foundation Inc West Chester, PA | $352,392,197 | $12,888,892 |
Grable Foundation Pittsburgh, PA | $386,701,292 | $35,946,563 |
Connelly Foundation West Conshohocken, PA | $387,913,026 | $27,891,431 |
The Abell Foundation Inc Baltimore, MD | $398,354,670 | $42,510,470 |
Fred F Silk Charitable Foundation Louisville, OH | $0 | $2,703,630 |
Jewish Foundation Of Cincinnati Cincinnati, OH | $344,322,004 | $65,111,190 |
Charles F Kettering Foundation Dayton, OH | $413,895,327 | $17,762,033 |
Jay And Jeanie Schottenstein Foundation Columbus, OH | $12,858,446 | $29,259,001 |
Susquehanna Foundation Bala Cynwyd, PA | $640,733,550 | $61,262,452 |
Operating Engineers Trust Fund Of Washington D C & Vicinity Sparks, MD | $40,754,444 | $17,999,357 |
The Lozick Family Foundation Pepper Pike, OH | $264,438,182 | $44,457,050 |
Humana Foundation Inc Louisville, KY | $467,311,073 | $9,744,567 |