Life Time Foundation
- Assets
- $2.2m
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 6
- Location
- Chanhassen, MN
- Founding
- 06/2006
- Data as of
- 12/2022
- EIN
- 03-0533192
Organization Overview
Life Time Foundation is located in Chanhassen, MN. The organization was established in 2006. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Education and related organizations. As of 12/2022, Life Time Foundation employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Life Time 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 12/2022, Life Time Foundation generated $2.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (33.6%) each year. All expenses for the organization totaled $2.6m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (30.5%) per year over the past 3 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Life Time Foundation has awarded 79 individual grants totaling $3,772,024. 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
LIFE TIME FOUNDATION SUPPORTS CHANGEMAKERS THAT EMPOWER CHILDREN TO LIVE HEALTHY, HAPPY LIVES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OUR NUTRITION PROGRAMS WORK WITH PUBLIC K-12 SCHOOLS IS BY SUPPORTING THEM IN SERVING DELICIOUS, NUTRITION, MINIMALLY-PROCESSED FOOD IN SCHOOL. OUR COLLABORATIVE INITIATIVES WITH SCHOOL FOOD LEADERS ENTAIL:PROVIDING EXPERT GUIDANCE RELATED TO INGREDIENTS IN SCHOOL FOODS AND LABEL ANALYSIS WITH OUR GREEN ONION TOOL, WHICH IS A FREE ONLINE TOOL FOR SCHOOL NUTRITION PROFESSIONALS.FUNDING OF STAFF TRAININGS RELATED TO THE PRODUCTION AND DISTRIBUTION OF HEALTHY FOOD OPTIONS. GRANTMAKING RELATED TO KITCHEN FACILITY, AND SCHOOL FOOD SYSTEM IMPROVEMENT.
OUR YOUTH MOVEMENT PROGRAMS FUNDS PROJECTS AND INITIATIVES SO THAT ALL KIDS, SPECIFICALLY THOSE IN HISTORICALLY UNDERSERVED COMMUNITIES, HAVE ACCESS TO SAFE, FUN, ENRICHING PHYSICAL ACTIVITIES, WITH THE INTENTION THEY WILL CHOOSE TO STAY ACTIVE FOR LIFE. THROUGH THE YOUTH MOVEMENT PROGRAM, LIFE TIME FOUNDATION WILL PROVIDE GRANTS OF UP TO $15,000 FOR SCHOOL SITES AND LOCAL NON-PROFIT ORGANIZATIONS, AND UP TO $100,000 FOR SCHOOL DISTRICTS.
IN ADDITION TO OUR CORE FOCUS, LIFE TIME FOUNDATION OPERATES LIFE TIME LIFTS, A RESTRICTED FUND THAT PROVIDES EMERGENCY ASSISTANCE TO EMPLOYEES OF LIFE TIME GROUP HOLDINGS, INC. WHO EXPERIENCE UNEXPECTED FINANCIAL HARDSHIP CIRCUMSTANCES THAT ARISE OUTSIDE OF THEIR CONTROL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mechelle Freeman Director - Board Member | Trustee | 1 | $18,400 |
Bahram Akradi Chair And President | OfficerTrustee | 1 | $0 |
James Spolar Secretary | OfficerTrustee | 1 | $0 |
Aaron Switz Director - Board Member | Trustee | 1 | $0 |
Brittany Reger Director - Board Member | Trustee | 1 | $0 |
Cory Svihla Director - Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $6,805 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,201,843 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,208,648 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$3,242 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,241,928 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,555,942 |
| Grants and other assistance to domestic individuals. | $330,185 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $67,338 |
| Compensation of current officers, directors, key employees. | $25,813 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $310,286 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $5,676 |
| Payroll taxes | $59,475 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,561 |
| Fees for services: Accounting | $19,456 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $64,341 |
| Advertising and promotion | $45,003 |
| Office expenses | $756 |
| Information technology | $22,434 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $9,806 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,182 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $7,672 |
| Total functional expenses | $2,579,074 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,166,220 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $31,091 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $7,703 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,205,014 |
| Accounts payable and accrued expenses | $84,592 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $84,592 |
| Net assets without donor restrictions | $1,463,233 |
| Net assets with donor restrictions | $657,189 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,205,014 |
Grants Awarded
Over the last fiscal year, Life Time Foundation has awarded $1,553,792 in support to 27 organizations.
| Grant Recipient | Amount |
|---|---|
CHEF ANN FOUNDATION PURPOSE: SCHOOL NUTRITION | $66,817 |
DENVER PUBLIC SCHOOLS PURPOSE: SCHOOL NUTRITION | $250,000 |
FAYETTEVILLE SCHOOL DISTRICT PURPOSE: SCHOOL NUTRITION | $10,667 |
LAKE COUNTY SCHOOL DISTRICT PURPOSE: SCHOOL NUTRITION AND YOUTH MOVEMENT | $185,704 |
LAVEEN ELEMENTARY SCHOOL DISTRICT PURPOSE: SCHOOL NUTRITION | $19,525 |
OSBORN SCHOOL DISTRICT PURPOSE: SCHOOL NUTRITION | $6,678 |