MGM Foundation Inc is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in CONROE, TX. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $1.0M in total assets. In 2024, it awarded 1 grants totaling $2K. Net investment income was $115K.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$1.0M
+16.8% YoY
Annual Giving
$2K
Grant Count
1
Avg Grant Size
$2K
Under IRS private-foundation payout rules, MGM Foundation Inc reported a distributable amount of $36K for 2024 — the minimum it must pay out in qualifying distributions.
About MGM Foundation Inc
Based on IRS filings
MGM Foundation Inc is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in CONROE, TX. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $1.0M in total assets. In 2024, it awarded 1 grants totaling $2K. Net investment income was $115K.
Focus Areas
Ready to take the next step with MGM Foundation Inc?
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $1,041,486 | $891,500 | $772,899 |
| Revenue | $124,485 | $21,230 | $29,144 |
| Expenses | $11,119 | $7,851 | $179,919 |
| Qualifying Distributions | $2,000 | — | $58,135 |
| Net Investment Income | $115,366 | $5,825 | — |
| Distributable Amount | $35,646 | $35,326 | $33,760 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 1 recipients in 2024
Grant Size Distribution
12 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include St James the Apostle Catholic Churc ($2,000).
| Recipient | Purpose | Amount |
|---|---|---|
| St James the Apostle Catholic Churc Spring, TX | Youth Ministry Donation | $2,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Kevin G Mims | Director | 2 | — |
| Robert G Mims | Director | 2 | — |
| Katherine Mims | Director | 20 | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is MGM Foundation Inc?
MGM Foundation Inc is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in CONROE, TX. It holds $1.0M in total assets as of 2024.
How large is MGM Foundation Inc?
As of 2024, MGM Foundation Inc holds $1.0M in total assets with $124K in annual revenue. It awarded 1 grants totaling $2K in 2024.
Where does MGM Foundation Inc operate?
MGM Foundation Inc has awarded grants in Illinois, Kentucky, Minnesota, Missouri, Texas.
What size grants does MGM Foundation Inc award?
In 2024, MGM Foundation Inc awarded 1 grants totaling $2K — an average of about $2K per grant, based on its IRS Form 990 filings.
How much is MGM Foundation Inc required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, MGM Foundation Inc reported a distributable amount of $36K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is MGM Foundation Inc's EIN?
MGM Foundation Inc's EIN (Employer Identification Number) is 71-1049010. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in MGM Foundation Inc's focus areas in our free grants database
Related Funders
Similar funders by location and focus area
William Z Hayes Foundation
DALLAS, TX
Assets
$629K
Grants
4
Total Given
$28K
Tr Uw Jane James Cook Item 19
DALLAS, TX
Assets
$861K
Grants
11
Total Given
$41K
Forsyth Fbo Leonard Wood Memorial
DALLAS, TX
Assets
$320K
Grants
1
Total Given
$18K
Teas Foundation
AMARILLO, TX
Assets
$3.0M
Grants
3
Total Given
$138K
Crystelle Waggoner Charitable Trust
DALLAS, TX
Assets
$13.5M
Grants
41
Total Given
$3.9M
Nelson & Debbie Fox Charitable Fdtn
LUBBOCK, TX
Assets
$329K
Grants
9
Total Given
$90K
Data last updated April 2026. Sourced from IRS Form 990-PF filings.
What could you do with MGM Foundation Inc on Grantable?
- Assess strategic fit with your organization
- Draft a tailored letter of inquiry
- Find open RFPs from this funder
- Monitor for new funding opportunities
Go from researching MGM Foundation Inc to a real strategy.