Lgt Foundation
- Assets
- $7.9m
- Revenue
- $1.5m
- Investments
- $5.0m
- Employees
- 0
- Location
- Lake Success, NY
- Founding
- 06/1991
- Data as of
- 07/2022
- 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 07/2022, Lgt Foundation generated $1.5m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 39.9% each year . All expenses for the organization totaled $2.0m during the year ending 07/2022. While expenses have increased by 30.7% per year over the past 6 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 69 individual grants totaling $4,120,768. 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 |
|---|---|---|---|
Kathleen Mangan Exec Dir/secy | 40 | $120,500 | |
Ellyn A Sosin Treasurer | 1 | $0 | |
Janice Gordon President | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $57 |
| Dividends & Interest | $111,224 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,380,742 |
| Capital Gain Net Income | $1,380,742 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,492,023 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $120,500 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $20,003 |
| Interest | $0 |
| Taxes | $9,051 |
| Depreciation | $2,414 |
| Occupancy | $78,643 |
| Travel, conferences, and meetings | $2,049 |
| Printing and publications | $0 |
| Other expenses | $47,426 |
| Total operating and administrative expenses | $381,174 |
| Contributions, gifts, grants paid | $1,652,600 |
| Total expenses and disbursements | $2,033,774 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17,466 |
| Savings and temporary cash investments | $565,223 |
| 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 | $7,196 |
| Other assets | $2,312,220 |
| Total assets | $7,914,129 |
| 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 $1,652,600 in support to 23 organizations.
| Grant Recipient | Amount |
|---|---|
Sheboygan, WI PURPOSE: ENDOWMENT GRANT TO SUPPORT A FELLOWSHIP FOR VISITING FELLOWS TO MICHAEL KOHLER ARTS CENTER. | $1,050,000 |
CRYSTAL BRIDGES PURPOSE: 3 WORKS OF ART-LENORE TAWNEY DONATED TO PERMANENT COLLECTION | $275,000 |
Houston, TX PURPOSE: 1 WORK OF ART-LENORE TAWNEY WATERCOLOR & COLLAGE DONATED TO PERMANENT COLLECTION | $75,000 |
CERF PURPOSE: TO BE USED FOR EMERGENCY RELIEF ASSISTANCE TO ARTISTS IN NEED | $35,000 |
Los Angeles, CA PURPOSE: IN SUPPORT OF THE EXHIBITION: "BUILDING THE ESSENTIAL: FERNE JACOBS" | $20,000 |
SOLOMON RGUGGENHEIM MUSEUM FDTN PURPOSE: IN SUPPORT OF A SITE-SPECIFIC QUIPU AND EXHIBITION OF RELATED WORKS BY CECILIA VICUNA AT THE GUGGENHEIM MUSEUM IN 2022 | $20,000 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Lgt Foundation has recieved totaling $300.
| Awarding Organization | Amount |
|---|---|
Blatte Family Foundation East Hills, NY PURPOSE: TO FURTHER DONEE'S EXEMPT PURPOSE | $100 |
Blatte Family Foundation East Hills, NY PURPOSE: TO FURTHER DONEE'S EXEMPT PURPOSE | $100 |
Blatte Family Foundation East Hills, NY PURPOSE: TO FURTHER DONEE'S EXEMPT PURPOSE | $100 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
John R Oishei Foundation Buffalo, NY | $294,151,477 | $18,357,929 |
Lor Foundation Inc West Chester, PA | $352,392,197 | $12,888,892 |
Grable Foundation Pittsburgh, PA | $386,701,292 | $35,946,563 |
Connelly Foundation West Conshohocken, PA | $387,913,026 | $27,891,431 |
American Express Foundation New York, NY | $66,234,265 | $62,922,703 |
Essel Foundation Inc Purchase, NY | $100,106,056 | $12,292,478 |
Beth And Ravenel Curry Foundation New York, NY | $0 | $44,744,046 |
Kz Family Foundation New York, NY | $10,936,301 | $30,139,672 |
The Freeman Foundation P-01644-00-7 New York, NY | $343,405,683 | $35,941,951 |
Hearst Foundation Inc New York, NY | $439,249,947 | $42,040,987 |
Tansy Charitable Foundation New York, NY | $325,076,608 | $77,631,295 |
Gordon & Llura Gund Foundation Princeton, NJ | $18,024,465 | $6,191,436 |