The Mary Gale Foundation Inc
- Assets
- $13.6m
- Revenue
- $466.9k
- Investments
- $12.5m
- Employees
- 0
- Location
- Johnston, RI
- Founding
- 07/2003
- Data as of
- 12/2022
- EIN
- 57-1171038
Organization Overview
The Mary Gale Foundation Inc is located in Johnston, RI. The organization was established in 2003. According to its NTEE Classification (T90) the organization is classified as: Named Trusts N.E.C., 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. Mary Gale 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 12/2022, Mary Gale Foundation Inc generated $466.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (14.8%) each year. All expenses for the organization totaled $910.5k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lauren Johnson Trustee | 1 | $0 | |
Gina Powers Trustee | 1 | $0 | |
Ken Snow Trustee | 1 | $0 | |
Alison Perrella Treasurer | 1 | $0 | |
Meredith Young Chairman | 1 | $0 | |
Steven Dalton Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,865 |
| Interest on Savings | $0 |
| Dividends & Interest | $299,972 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $155,487 |
| Capital Gain Net Income | $155,487 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $9,567 |
| Total Revenue | $466,891 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $18,357 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $41,269 |
| Total operating and administrative expenses | $138,286 |
| Contributions, gifts, grants paid | $772,246 |
| Total expenses and disbursements | $910,532 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,020,923 |
| Net Accounts receivable | $36,032 |
| 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 | $5,695,853 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $13,579,062 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $686,246 |
| 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 | $686,246 |