The Melvin And Virginia Hutson Foundation
- Assets
- $7.6m
- Revenue
- $372.2k
- Investments
- $6.5m
- Employees
- 0
- Location
- Decatur, AL
- Founding
- 12/1984
- Data as of
- 12/2022
- EIN
- 63-0885492
Organization Overview
The Melvin And Virginia Hutson Foundation is located in Decatur, AL. The organization was established in 1984. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Melvin And Virginia Hutson 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, Melvin And Virginia Hutson Foundation generated $372.2k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.2%) each year. All expenses for the organization totaled $650.0k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Melvin And Virginia Hutson Foundation has awarded 310 individual grants totaling $4,456,717. 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 |
|---|---|---|---|
Karen W Truitt President | 10 | $51,000 | |
Mike Steryous Vp/secretary | 1 | $4,880 | |
Kenton Steryous Treasurer | 0 | $3,200 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $364,654 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $6,997 |
| Capital Gain Net Income | $6,997 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $536 |
| Total Revenue | $372,187 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $59,080 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $3,486 |
| Printing and publications | $0 |
| Other expenses | $6,337 |
| Total operating and administrative expenses | $139,985 |
| Contributions, gifts, grants paid | $510,000 |
| Total expenses and disbursements | $649,985 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,129,992 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $7,608,298 |
| 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, The Melvin And Virginia Hutson Foundation has awarded $510,000 in support to 37 organizations.
| Grant Recipient | Amount |
|---|---|
AGAPE OF NORTH ALABAMA PURPOSE: CHARITABLE | $10,000 |
ALL POINT BAPTIST MISSION PURPOSE: CHARITABLE | $5,000 |
ALTA MONS PURPOSE: CHARITABLE | $9,000 |
BAPTIST MID-MISSIONS FOUNDATION PURPOSE: CHARITABLE | $15,000 |
BAPTIST WORLD MISSION PURPOSE: CHARITABLE | $14,000 |
BELTLINE CHURCH OF CHRIST PURPOSE: CHARITABLE | $15,000 |