GEORGE C MARSHALL RESEARCH FOUNDATION

EIN: 546052427 501(c)(3)

LEXINGTON, VA

Total Revenue
$1,649,612
Total Expenses
$1,451,766
Total Assets
$11,107,664
Net Assets
$10,844,123
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1953
Legal Domicile
VA
Principal Officer
PAUL A LEVENGOOD
Phone
5404637103
Tax Period
2024-01-01 to 2024-12-31

GEORGE C MARSHALL RESEARCH FOUNDATION, founded in 1953, is a community nonprofit that reported $1.6M in total revenue in fiscal year 2024. Revenue grew 14% year-over-year, indicating healthy expansion. Expenses of $1.5M left a modest 12% surplus.

Mission

THE FOUNDATION KEEPS ALIVE THE VALUES THAT SHAPED AND MOTIVATED GEORGE C. MARSHALL. MARSHALL'S LEGACY IS PERPETUATED THROUGH SCHOLARSHIP, LEADERSHIP AND EDUCATIONAL PROGRAMS.

Program Service Accomplishments

Program 1
Expenses: $195,145

PROVIDING EDUCATIONAL PROGRAMS SUCH AS THE MARSHALL LEGACY SERIES THROUGH A SERIES OF EVENTS, PROGRAMS AND INFORMATION CENTERED ON KEY THEMES, EVENTS OR EPISODES IN GENERAL MARSHALL'S CAREER.

Program 2
Expenses: $340,901 Revenue: $1,230

COLLECTING, PRESERVING, AND MAKING AVAILABLE TO SCHOLARS A DOCUMENTED RECORD OF THE LIFE AND PUBLIC SERVICE CAREER OF GEORGE C. MARSHALL.

Program 3
Expenses: $105,451

PUBLISHING OF A SEMI-ANNUAL MAGAZINE WITH ARTICLES ABOUT MARSHALL, BOOK REVIEWS, AND FOUNDATION NEWS.

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Trantor Score

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $862,102
Program Service Revenue $1,230
Investment Income $740,195
Other Revenue $46,085
TOTAL REVENUE $1,649,612

Expense Breakdown

Grants Paid $0
Salaries & Benefits $782,859
Fundraising Expenses $509,891
Program Expenses $641,497
Other Expenses $668,907
TOTAL EXPENSES $1,451,766

Year-over-Year Comparison

2024 2023 Change
Revenue $1,649,612 $1,451,145 +0.1%
Expenses $1,451,766 $1,289,247 +0.1%
Net Income $197,846 $161,898 +0.2%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
21
Independent Members
20
Employees
8
Volunteers
N/A

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
3
$362,065
Total Directors
22
$218,958
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
HUNTER A APPLEWHITE TRUSTEE 1.00
Director
$0 $0 $0
CAMDEN R FINE TRUSTEE 1.00
Director
$0 $0 $0
C RUSSELL FLETCHER III TRUSTEE 1.00
Director
$0 $0 $0
GEORGE W FORESMAN TRUSTEE 1.00
Director
$0 $0 $0
DAVID HEIN TRUSTEE 1.00
Director
$0 $0 $0
WALTON M JEFFRESS JR TRUSTEE 1.00
Director
$0 $0 $0
PAUL A LEVENGOOD PRESIDENT 40.00
Officer Director
$194,104 $24,854 $218,958
CYNTHIA MARSTELLER TRUSTEE 1.00
Director
$0 $0 $0
JESSINE A MONAGHAN TRUSTEE 1.00
Director
$0 $0 $0
DON MOSMAN TRUSTEE 1.00
Director
$0 $0 $0
THOMAS H MURPHY TRUSTEE 1.00
Director
$0 $0 $0
THOMAS A PRITCHARD TRUSTEE 1.00
Director
$0 $0 $0
PETER PROWITT TRUSTEE 1.00
Director
$0 $0 $0
MARIA P RASMUSSEN TRUSTEE 1.00
Director
$0 $0 $0
DAVID L ROLL TRUSTEE 1.00
Director
$0 $0 $0
BENNETT L ROSS CHAIRMAN 8.00
Officer Director
$0 $0 $0
JAMES M SCHMUCK TRUSTEE 1.00
Director
$0 $0 $0
ADAM SZAKMARY TRUSTEE 1.00
Director
$0 $0 $0
MICHAEL A WILLIAMS TRUSTEE 1.00
Director
$0 $0 $0
JAMES J WINN JR TRUSTEE 1.00
Director
$0 $0 $0
CEDRIC T WINS TRUSTEE 1.00
Director
$0 $0 $0
CLIFFORD MILLER YONCE TRUSTEE 1.00
Director
$0 $0 $0
MATTHEW M WALDRON TREASURER/CHIEF FINANCIAL OFFICER 40.00
Officer
$130,977 $12,130 $143,107
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $1,649,612 $1,451,766 $11,107,664 $197,846
2023 $1,451,145 $1,289,247 $10,443,532 $161,898
2022 $2,232,948 $1,267,260 $9,601,009 $965,688
2021 $1,800,657 $1,088,449 $9,916,365 $712,208
2020 $903,241 $1,116,487 $8,617,483 $-213,246
2019 $1,760,230 $1,350,107 $8,215,962 $410,123
2018 $1,022,832 $1,256,993 $7,388,401 $-234,161
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