Mel And Grace Mclean Foundation
- Assets
- $32.2m
- Revenue
- $1.1m
- Investments
- $31.6m
- Employees
- 0
- Location
- Fortuna, CA
- Founding
- 03/1998
- Data as of
- 12/2023
- EIN
- 68-0400603
Organization Overview
Mel And Grace Mclean Foundation is located in Fortuna, CA. The organization was established in 1998. 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. Mel And Grace Mclean 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 12/2023, Mel And Grace Mclean Foundation generated $1.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (8.1%) each year. All expenses for the organization totaled $2.3m during the year ending 12/2023. 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 |
|---|---|---|---|
Rene Imperiale-Egan Secretary | 5 | $800 | |
Chris Broadstock At Large | 5 | $725 | |
Tony Titus CFO | 5 | $913 | |
Dennis Scott President & CEO | 30 | $67,067 | |
Tiara Brown Chairman | 5 | $675 | |
Sarah Reback At Large | 5 | $125 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Anderson Lucas Somerville & Borges Cpas | 12/30/20 | $51,074 |
Atlantic Trust | 12/30/20 | $75,286 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $200,892 |
| Dividends & Interest | $664,846 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $193,019 |
| Capital Gain Net Income | $193,019 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $95 |
| Total Revenue | $1,058,852 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $70,741 |
| Other employee salaries and wages | $71,031 |
| Pension plans, employee benefits | $0 |
| Interest | $123,500 |
| Taxes | $17,108 |
| Depreciation | $0 |
| Occupancy | $37,428 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $163,680 |
| Total operating and administrative expenses | $582,238 |
| Contributions, gifts, grants paid | $1,724,903 |
| Total expenses and disbursements | $2,307,141 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $200 |
| Savings and temporary cash investments | $610,708 |
| 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 | $901,447 |
| Investments—other | $1,885,499 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $32,187,198 |
| Accounts payable and accrued expenses | $4,605 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $3,800,000 |
| Other liabilities | $242,943 |
| Total liabilities | $4,047,548 |