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Nonprofiteer
← MIDWAY FOUNDATION INC

Form 990 for tax year 2024

Filed by MIDWAY FOUNDATION INC.

Totals

Total revenue
$6,312,919
Total expenses
$625,250
Contributions and grants received
$6,134,111
Grants paid
$625,250
Program service revenue
$0
Investment income
$178,808
Other revenue
$0
Total assets, end of year
$9,707,470
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$9,707,470
Program services expenses (Part IX)
$625,250
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$625,250

Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $6,134,111

  • 1g · Noncash contributions included above

    $74,475

  • 3 · Investment income

    total $94,484 · excluded $94,484

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6d · Net rental income or loss

    total $0

  • 7a · Gross sales of assets other than inventory

    securities $84,324

  • 7c · Gain or loss

    securities $84,324

  • 7d · Net gain or loss

    total $84,324 · related or exempt $84,324

  • 8c · Net income from fundraising events

    total $0

  • 9c · Net income from gaming

    total $0

  • 10c · Net income from sales of inventory

    total $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $625,250 · program services $625,250

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $0

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $0

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $0

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $0

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $0

  • 23 · Insurance

    total $0

  • 24e · All other expenses

    total $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,179,764 · end of year $2,914,879

  • 2 · Savings and temporary cash investments

    beginning of year $12,558 · end of year $48,408

  • 3 · Pledges and grants receivable

    beginning of year $1,159,667 · end of year $4,919,124

  • 4 · Accounts receivable

    end of year $0

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 7 · Other notes and loans receivable

    end of year $0

  • 8 · Inventories for sale or use

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    end of year $0

  • 10c · Land, buildings and equipment, net

    end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $1,577,517 · end of year $1,825,059

  • 12 · Investments: other securities

    end of year $0

  • 13 · Investments: program-related

    end of year $0

  • 14 · Intangible assets

    end of year $0

  • 15 · Other assets

    end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,000

  • 27 · Net assets without donor restrictions

    beginning of year $224,609 · end of year $193,486

  • 28 · Net assets with donor restrictions

    beginning of year $3,699,897 · end of year $9,513,984

Mission and programs · 2024

Mission

To support education programs, organizations and initiatives that support Americas core values of service and sacrifice in the name of freedom.

  • FUNDS HAVE BEEN GRANTED TO NONPROFIT BENEFIT ORGANIZATIONS THAT SUPPORT VETERANS, MILITARY FAMILIES AND FIRST RESPONDERS OPERATIONAL SAFETY

    Expenses $625,250 · Grants $625,250

As filed on the 2024 return.

Listed in Part VII

  • BUFORD BUF ALEXANDER

    Treasurer

    Total calculated
    $0
    Hours/week
    1
  • JEFF BERG

    Director

    Total calculated
    $0
    Hours/week
    1
  • JOHN JACK' R MCGRORY

    Director

    Total calculated
    $0
    Hours/week
    1
  • L ROBERT PAYNE

    Director

    Total calculated
    $0
    Hours/week
    1
  • DEDE W ALPERT

    Director

    Total calculated
    $0
    Hours/week
    1
  • BEN CLAY

    Chairman

    Total calculated
    $0
    Hours/week
    1
  • MALIN BURNHAM

    Chair Emeritus

    Total calculated
    $0
    Hours/week
    1
  • PATTI ROSCOE

    Director

    Total calculated
    $0
    Hours/week
    1
  • THOMAS SUDBERRY JR

    Director

    Total calculated
    $0
    Hours/week
    1
  • CDR STACIE MCCARTHY USN RET

    Secretary

    Total calculated
    $0
    Hours/week
    1
  • KEITH B JONES

    Director

    Total calculated
    $0
    Hours/week
    1
  • JOHN DRISCOLL

    Director

    Total calculated
    $0
    Hours/week
    1
  • LAURA WHITE LUDVICK

    Fmr President

    Total calculated
    $0
    Hours/week
    12

    Schedule J breakdown matched by us

    Base
    not reported
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    not reported
  • STEVEN KELLER

    Director

    Total calculated
    $0
    Hours/week
    1
  • TERRY ATKINSON

    Director

    Total calculated
    $0
    Hours/week
    1
  • PATRICIA MCQUATER ESQ

    Director

    Total calculated
    $0
    Hours/week
    1
  • Terry Kraft

    Director

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Part II, Compensation from Unrelated Organizations
LAURA WHITE LUDVICK, THE PRESIDENT, IS AN EMPLOYEE OF AN ORGANIZATION THAT DONATES SERVICE TO THE USS MIDWAY FOUNDATION. IT IS ESTIMATED THAT THE VALUE OF LAURA WHITE LUDVICKS COMPENSATION IS $109,676.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2024
Filed
4 November 2025
IRS schema version
2024v5.2
Source object
202523089349304082

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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