Martin John Lafoley Foundation
- Assets
- $513.3k
- Revenue
- $19.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Center Harbor, NH
- Founding
- 02/1993
- Data as of
- 09/2023
- EIN
- 04-3148023
Organization Overview
Martin John Lafoley Foundation is located in Center Harbor, NH. The organization was established in 1993. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Martin John Lafoley 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 09/2023, Martin John Lafoley Foundation generated $19.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (7.9%) each year. All expenses for the organization totaled $27.3k during the year ending 09/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE SCHOLARSHIPS AND FINANCIAL AID TO WORTHY STUDENTS WHO EXEMPLIFY THE DESIRE TO EXCEL IN ACADEMICS, SOCIAL VALUES AND AMATEUR ATHLETICS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS ARE MADE TO VARIOUS ORGANIZATIONS THAT SERVE STUDENTS OF SECONDARY SCHOOL AGE IN SPECIAL NEEDS, ACHIEVING EDUCATIONAL GOALS OR ACHIEVING AMATEUR ATHLETIC GOALS AND TO ATHLETIC OR SPECIAL NEEDS PROGRAMS, INCLUDING SKI PROGRAMS, FOR STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Cook Trustee | Trustee | 0.5 | $0 |
Beverly Lafoley Trustee | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,200 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,200 |
| Total Program Service Revenue | $0 |
| Investment income | $21,785 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$7,865 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $19,120 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $16,250 |
| Grants and other assistance to domestic individuals. | $5,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,745 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,980 |
| Fees for services: Other | $35 |
| Advertising and promotion | $0 |
| Office expenses | $243 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $27,253 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $24,497 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $488,797 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $513,294 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $513,294 |
| 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 | $513,294 |
Grants Awarded
Over the last fiscal year, Martin John Lafoley Foundation has awarded $7,985 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
HOLDERNESS SCHOOL PURPOSE: DONATION TO THE GENERAL FUND OF THE SCHOOL FOR OPERATIONS | $500 |
SQUAM LAKES ASSOCIATION PURPOSE: GRANT TO PROVIDE ONE WEEK OF CAMP AT THE JUNIOR SQUAM LAKES ASSOCIATION DAY CAMP FOR SEVEN SCHOOL CHILDREN. | $2,485 |
FRANCONIA SKI CLUB PURPOSE: TO PROVIDE 2 YOUTH SCHOLARSHIPS OF 2500 EACH TO 2 STUDENTS TO ASSIST THEM WITH COACHING FEES FOR THEIR RACING SEASON. THE FRANCONIA SKI CLUB AND ITS BOARD SELECT THE RECIPIENTS AND ADMINISTER THE SCHOLARSHIPS. | $5,000 |