Michaels Family Charitable Foundation Inc
- Assets
- $1.4m
- Revenue
- $45.1k
- Investments
- $1.4m
- Employees
- 0
- Location
- Atlanta, GA
- Founding
- 05/1999
- Data as of
- 12/2022
- EIN
- 58-2430856
Organization Overview
Michaels Family Charitable Foundation Inc is located in Atlanta, GA. The organization was established in 1999. According to its NTEE Classification (T21) the organization is classified as: Corporate 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. Michaels Family Charitable 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, Michaels Family Charitable Foundation Inc generated $45.1k 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 (16.8%) each year. All expenses for the organization totaled $130.5k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Michaels Family Charitable Foundation Inc has awarded 92 individual grants totaling $376,912. 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 |
|---|---|---|---|
Edward G Michaels III Founder/president | 20 | $0 | |
Katharine Mcdowell Executive Director | 20 | $12,000 | |
Joanne T Michaels Trustee | 5 | $0 | |
Edward G Michaels IV Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $38,708 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $6,397 |
| Capital Gain Net Income | $6,397 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $45,105 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $11,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,651 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $1,695 |
| Printing and publications | $0 |
| Other expenses | $2,650 |
| Total operating and administrative expenses | $36,763 |
| Contributions, gifts, grants paid | $93,733 |
| Total expenses and disbursements | $130,496 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $80,392 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $4,533 |
| 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 | $27,509 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,449,339 |
| 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 | $34,753 |
| Total liabilities | $34,753 |
Grants Awarded
Over the last fiscal year, Michaels Family Charitable Foundation Inc has awarded $93,733 in support to 30 organizations.
| Grant Recipient | Amount |
|---|---|
ATLANTA SPEECH SCHOOL GUILD PURPOSE: UNRESTRICTED OPERATIONAL SUPPORT | $5,000 |
A SQUASH PURPOSE: UNRESTRICTED OPERATIONAL SUPPORT | $1,000 |
BEARINGS BIKE SHOP PURPOSE: UNRESTRICTED OPERATIONAL SUPPORT | $1,000 |
BOYS AND GIRLS CLUB OF THE PLATEAU PURPOSE: UNRESTRICTED OPERATIONAL SUPPORT | $2,500 |
BREAKTHROUGH COLLABORATIVE PURPOSE: UNRESTRICTED OPERATIONAL SUPPORT | $3,250 |
BREAKTHROUGH ATLANTA PURPOSE: UNRESTRICTED OPERATIONAL SUPPORT | $1,000 |