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Thomas E & Mary K Gallagher Foundation EIN 95-6982534 Form 990 (PDF) Claim this org

Thomas E & Mary K Gallagher Foundation

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A private foundation based in New York, NY. It reported about $537K in revenue for 2024. For fiscal year 2024 it reported $537K in revenue, $347K in expenses, and $5.4M in net assets.Pt I

Type
Private foundation / grantmaker · Foundations & Grantmakers
Location
New York, NY
Filings
5 on file (2020–2024)
Revenue
$537KFY2024
Expenses
$347K
Net assets
$5.4M
People
1
Filings
5
Updates
0
More identity details & actions ⌄
EIN  95-6982534 Private foundation / grantmaker New York, NY
Form 990 (PDF)
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Size
$100K–1M
What they do
A private foundation based in New York, NY. It reported about $537K in revenue for 2024.
Leadership
Mary K Gallagher · Trustee
Money in and out
$537K revenue, $347K expenses
Bottom line
—
Grants paid & assets · FY2024
Total revenue
$537K
Pt VIII · Ln 12
Total expenses
$347K
Pt IX · Ln 25
Net assets
$5.4M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $190K
Total assets
5.4M
deployed as grants and operations
Grants paid
330K
in FY2024
Grants made
16grants
total in period
Payout rate
6%
of assets (5% rule)

Who They Fund

Part XV · grants paid · 16 grants · $330K · 2024–2024
Dri Research FoundationFY2024$250,000
The Guinn CenterFY2024$30,000
Rebecca CathcartFY2024$10,000
George Mark Children's HouseFY2024$5,000
Nevada Museum of ArtFY2024$5,000
Terry Lee Wells Nevada Discovery MuseumFY2024$5,000
State of Play ProductionsFY2024$3,000
Pax Peace by Peace FundFY2024$2,500
Step 2 INCFY2024$2,500
University of Detroit JesuitFY2024$2,500
Angel Flight WestFY2024$2,500
The Tahoe FundFY2024$2,500
University of Detroit MercyFY2024$2,500
Boys & Girls Clubs of Coachella ValeeyFY2024$2,500
Boys & Girls Club of Truckee MeadowsFY2024$2,500
Mayo ClinicFY2024$2,500

Grantmaking Profile

Patterns in foundation giving
Average grantPart XV$21K
Median grantPart XV$2K
Largest grantPart XV$250K

Summary of the Filing

Part I · fiscal year 2024 · Form 990-PF
Revenue
$537K
FY2024▲ +88%
Expenses
$347K
FY2024▼ -4%
Total assets
$5.4M
FY2024▲ +4%
Total liabilities
$0
FY2024
Total revenue
$537K
Pt VIII · Ln 12
Total expenses
$347K
Pt IX · Ln 25
Net assets
$5.4M
Pt X · Ln 32
Total assetsPt II$5.4M

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CThomas E & Mary K Gallagher Foundation
EINHdr · item D95-6982534
Principal addressHdr · item CNew York, NY
WebsiteHdr · item Jnone reported
State of legal domicileHdr · item MNY
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFFoundations & Grantmakers (T20Z)
Ruling yearIRS BMFSep 1995

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1apending
Independent voting membersPt VI · Ln 1bpending
Conflict-of-interest policyPt VI · Ln 12a—
Whistleblower policyPt VI · Ln 13—
Document retention policyPt VI · Ln 14—
CEO/top-official compensation independently reviewedPt VI · Ln 15a—
Family or business relationships among officers/directorsPt VI · Ln 2—

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Investment income100%$537K
Total revenueLn 12$537K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Grants & contributions paid $0.95 Operating & administrative $0.05
Grants & contributions paid95%$330K
Operating & administrative5%$17K
Total functional expensesLn 25$347K

Balance Sheet

Part X · end of year
CashLn 1$613K
Total assetsLn 16$5.4M
Total liabilitiesLn 26$0
Total net assetsLn 32$5.4M
Months of cash on handcomputed21.2

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Payout rate
Grants paid $0 · Total assets $5.4M
0%
Where the money comes from
Contribution dependence
Contributions & grants — · Total revenue $537K
—
Government reliance
not reported
Earned-income share
not reported
Investment reliance
Investment income $0 · Total revenue $537K
0%
Program self-sufficiency
not reported
Growth & trend
Revenue growth (YoY)
This year $537K · Prior year $286K
+88%
Revenue CAGR
FY2019 $383K · FY2024 $537K
+7%
Net-asset trend (YoY)
End of year $5.4M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $537K · Expenses $347K
+35%
Liabilities-to-Assets
Total liabilities — · Total assets $5.4M
—
Net-asset ratio
Net assets $5.4M · Total assets $5.4M
100%
People & payroll
Highest Reported Total Compensation
Individual Mary K Gallagher · Reported title TRUSTEE · Highest reported compensation $0 · Total expenses $347K
0%
Personnel share
not reported
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Revenue growth 88%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024$286K revenue · ⤓ 990 PDF
FY2023$390K revenue · ⤓ 990 PDF
FY2022$499K revenue · ⤓ 990 PDF
FY2021$567K revenue · ⤓ 990 PDF
FY2020$383K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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