The McGlothlin Foundation FY2023 filing

Tax-deductible

Bristol, VA501(c)(3)Foundations & GrantmakersEIN 54-1907305Revenue $728K in FY2023

On file with the IRSthemcglothlinfoundation.com295 United Ave, 24201-3389 · Bristol, VATax-exempt since Dec 1998Private non-operating foundation

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501(c)(3) charity; gifts are tax-deductible.
$88K paid to officers and key staff.
Status: IRS Pub. 78 · Pay: Part VII

Before you give

FY2023 · Form 990-PFIndependent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990-PF
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 6
filings with a surplus
Average surplus $262K a year · 19% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
990-PF Pt I · 6 filings
Pay to officers and key staff
$88K
to officers and key staff · 8% of spending
Looks good: pay to officers and key staff is 8% of spending; 15% or less.
990-PF Pt VIII
Cash reserves
<1 mo
of spending, in cash
Concern: 0.3 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$4K
0.02% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
990-PF Pt II
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$728K
+50% vs prior year
Spent
$1.1M
Net assets
$16.3M
By yearFY2020–FY2025
Revenue
$728K
FY2023▲ +50%
Tap a bar for its year
Revenue by fiscal year
FY2020$998K
FY2021$3.1M
FY2022$484K
FY2023$728K
FY2024$1.7M
FY2025$1.4M
Expenses
$1.1M
FY2023▼ -17%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.1M
FY2021$1.3M
FY2022$1.3M
FY2023$1.1M
FY2024$1.0M
FY2025$1.2M
Net assets
$16.3M
FY2023▼ -2%
Tap a bar for its year
Net assets by fiscal year
FY2020$15.6M
FY2021$17.5M
FY2022$16.6M
FY2023$16.3M
FY2024$17.1M
FY2025$17.3M

From the FY2023 Form 990 · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Dec 1998.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

What each dollar paid for.

Grants & contributions paid 75% · $799K Operating & administrative 25% · $264K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

3 people listed on the 990-PF; $88K paid to officers and key staff.

Part VII, Section A · reportable compensation
$88,385Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2025FY2024FY2023
Thomas D McGlothlin$89,400$89,400$88,385

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See The McGlothlin Foundation executive salaries →

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Programs and updates

A private foundation based in Bristol, VA.

Questions for The McGlothlin Foundation

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Provided by the organization

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Grants and how to apply

Who it funds, and how to ask.

Who They Fund

Part XV · grants paid · 25 grants · $900K · 2025–2025
Appalachian College of PharmacyFY2025$175,000
Appalachian School of LawFY2025$105,000
William King Art CenterFY2025$100,000
King UniversityFY2025$70,000
Crossroads Medical MissionFY2025$70,000
Radford UniversityFY2025$50,000
Paramount TheatreFY2025$50,000
Alice Lloyd CollegeFY2025$50,000
Boys Girls Club of Central AppalaFY2025$45,000
Sunset Holler INCFY2025$40,000
Emory Henry CollegeFY2025$26,500
Theatre BristolFY2025$25,000
Buchanan County Historical SocietyFY2025$20,000
Grundy Fire DepartmentFY2025$15,000
George C Marshall FoundationFY2025$15,000
Clinic at Community Health of NrvFY2025$10,000
East TN State UniversityFY2025$9,756
Morrison SchoolFY2025$5,000
See all 25 grants →

Grantmaking Profile

Patterns in foundation giving
Average grantPart XV$36K
Median grantPart XV$20K
Largest grantPart XV$175K

By the numbers

The FY2023 990-PF, line by line.

1The main four
Money in
$728K
Investment income$727K
Other income$738
Money out
$1.1M
Grants paid$799K
Running costs$264K
Owns and owes
$16.3M
net assets
Cash and savings$30K
Total assets$16.3M
Liabilities$4K
People
3
listed
Paid1
2In more detail
Revenue in detail
Investment income$727K
Other income$738
Total revenue$728K
Assets in detailEnd of year
Cash and savings together$30K
Total assets$16.3M
Liabilities$4K
Net assets$16.3M
Operations
Fiscal year endsDecember

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $1.4M$1.2M$250K$17.3M 990 PDF
FY2024 $1.7M$1.0M$707K$17.1M 990 PDF
FY2023 Viewing $728K$1.1M−$335K$16.3M 990 PDF
FY2022 $484K$1.3M−$792K$16.6M 990 PDF
FY2021 $3.1M$1.3M$1.8M$17.5M 990 PDF
FY2020 $998K$1.1M−$85K$15.6M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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