Ned R Mcwherter Charitable Foundation
- Assets
- $2.6m
- Revenue
- $386.2k
- Investments
- $2.4m
- Employees
- 0
- Location
- Jackson, TN
- Founding
- 10/1997
- Data as of
- 12/2022
- EIN
- 62-1657841
Organization Overview
Ned R Mcwherter Charitable Foundation is located in Jackson, TN. The organization was established in 1997. 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. Ned R Mcwherter Charitable 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 12/2022, Ned R Mcwherter Charitable Foundation generated $386.2k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 9.6% each year. All expenses for the organization totaled $280.9k during the year ending 12/2022. While expenses have increased by 17.8% 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 2017, Ned R Mcwherter Charitable Foundation has awarded 80 individual grants totaling $739,150. 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
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION MAKES GRANTS TO OTHER ORGANIZATIONS FOR CHARITABLE PURPOSES. ACCORDINGLY, IT IS A NON-OPERATING OR GRANT-MAKING FOUNDATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael R Mcwherter President | 0.25 | $0 | |
Madelyn B Pritchett Secretary | 0.5 | $12,000 | |
Mary Jane Mcwherter Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $193,887 |
| Interest on Savings | $1,888 |
| Dividends & Interest | $89,934 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $100,455 |
| Capital Gain Net Income | $100,455 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $386,164 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $12,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $5,795 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $44,105 |
| Contributions, gifts, grants paid | $236,750 |
| Total expenses and disbursements | $280,855 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $151,842 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $48,472 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $2,637,267 |
| 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, Ned R Mcwherter Charitable Foundation has awarded $236,750 in support to 22 organizations.
| Grant Recipient | Amount |
|---|---|
ANDREW JACKSON FOUNDATION PURPOSE: FOR GENERAL PURPOSES | $2,500 |
CITY OF DRESDEN PURPOSE: FOR GENERAL PURPOSES | $26,500 |
CITY OF JACKSON - THE NED MCWHERTER PERFORMING ARTS CENTER PURPOSE: FOR GENERAL PURPOSES | $101,000 |
CRIME STOPPERS PURPOSE: FOR GENERAL PURPOSES | $3,000 |
JACKSON BOYS & GIRLS CLUB PURPOSE: FOR GENERAL PURPOSES | $2,000 |
LANE COLLEGE PURPOSE: FOR GENERAL PURPOSES | $1,250 |