Lgt Foundation
- Assets
- $8.0m
- Revenue
- $769.9k
- Investments
- $5.4m
- Employees
- 0
- Location
- Lake Success, NY
- Founding
- 06/1991
- Data as of
- 07/2024
- EIN
- 06-1281494
Organization Overview
Lgt Foundation is located in Lake Success, NY. The organization was established in 1991. 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. Lgt 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 07/2024, Lgt Foundation generated $769.9k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 18.4% each year . All expenses for the organization totaled $1.1m during the year ending 07/2024. While expenses have increased by 13.6% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Lgt Foundation has awarded 87 individual grants totaling $5,099,768. 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 |
|---|---|---|---|
Janice Gordon President | 1 | $0 | |
Kathleen Mangan Exec Dir/secy | 40 | $140,000 | |
Ellyn A Sosin Treasurer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $139 |
| Dividends & Interest | $140,864 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $628,851 |
| Capital Gain Net Income | $628,851 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $769,854 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $157,500 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $20,020 |
| Interest | $0 |
| Taxes | $12,198 |
| Depreciation | $2,007 |
| Occupancy | $79,421 |
| Travel, conferences, and meetings | $12,222 |
| Printing and publications | $0 |
| Other expenses | $80,798 |
| Total operating and administrative expenses | $463,641 |
| Contributions, gifts, grants paid | $672,000 |
| Total expenses and disbursements | $1,135,641 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $86,693 |
| Savings and temporary cash investments | $308,026 |
| 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 | $0 |
| Net Land, buildings, and equipment | $3,181 |
| Other assets | $2,216,825 |
| Total assets | $8,023,495 |
| 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, Lgt Foundation has awarded $672,000 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
RHODE ISLAND SCHOOL OF DESIGN PURPOSE: TO FUND AN ENDOWMENT IN PERPETUITY FOR THE PURPOSE OF PROVIDING STUDENT FINANCIAL AID/TUITION ASSISTANCE IN THE FORM OF A MERIT BASED SCHOLARSHIP. | $50,000 |
MARYLAND INSTITUTE COLLEGE OF ART PURPOSE: ADDITION TO EXISTING SCHOLARSHIP ENDOWMENT FOR THE PURPOSE OF PROVIDING STUDENT FINANCIAL AID/TUTIION ASSISTANCE IN THE FORM OF A MERIT SCHOLARSHIP. | $50,000 |
SCHOOL OF THE ART INSTITUTE OF CHICAGO PURPOSE: TO FURTHER FUND ENDOWMENT TO BE HELD IN PERPETUITY. | $25,000 |
CRANBROOK ACADEMY OF ART PURPOSE: ESTABLISHMENT OF NEW ENDOWED SCHOLARSHIP FUND | $50,000 |
ARTTABLE INC PURPOSE: IN SUPPORT OF ARTTABLE'S SUMMER FELLOWSHIP IN THE VISUAL ARTS PROFESSION PROGRAM. | $12,000 |
SMITHSONIAN AMERICAN ART MUSEUM PURPOSE: PROVIDED FOR SUBVERSIVE, SKILLED, SUBLIME: FIBER ART BY WOMEN. | $20,000 |