Lafayette River Foundation
- Assets
- $15.4m
- Revenue
- $1.2m
- Investments
- $15.2m
- Employees
- 0
- Location
- Norfolk, VA
- Founding
- 10/2004
- Data as of
- 12/2021
- EIN
- 02-0729969
Organization Overview
Lafayette River Foundation is located in Norfolk, VA. The organization was established in 2004. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lafayette River Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Lafayette River Foundation generated $1.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (26.8%) each year. All expenses for the organization totaled $906.2k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Lafayette River Foundation has awarded 34 individual grants totaling $6,286,916. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
E G Grandy Trustee | 0 | $27,500 | |
L W Webbiii Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $55,112 |
| Dividends & Interest | $336,896 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $762,663 |
| Capital Gain Net Income | $445,468 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $72,634 |
| Total Revenue | $1,227,305 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $25,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $5 |
| Taxes | $22,693 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $129,933 |
| Contributions, gifts, grants paid | $776,227 |
| Total expenses and disbursements | $906,160 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $155,948 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $937,955 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $15,373,543 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Lafayette River Foundation has awarded $997,500 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
VIRGINIA ARTS FESTIVAL PURPOSE: VARIOUS PROGRAMS | $775,000 |
VIRGINIA OPERA PURPOSE: VARIOUS PROGRAMS | $75,000 |
ST PATRICK CATHOLIC SCHOOL PURPOSE: VARIOUS PROGRAMS | $35,000 |
VIRGINIA SYMPHONY ORCHESTRA PURPOSE: VARIOUS PROGRAMS | $100,000 |
BUSINESS CONSORT FOR ARTS SUPPORT PURPOSE: VARIOUS PROGRAMS | $10,000 |
ODU EDUCATIONAL FOUNDATION PURPOSE: VARIOUS PROGRAMS | $2,500 |