Luddy Charitable Foundation
- Assets
- $56.6m
- Revenue
- $31.3m
- Investments
- $55.8m
- Employees
- 0
- Location
- Raleigh, NC
- Founding
- 11/2003
- Data as of
- 12/2023
- EIN
- 11-3660572
Organization Overview
Luddy Charitable Foundation is located in Raleigh, NC. The organization was established in 2003. According to its NTEE Classification (T90) the organization is classified as: Named Trusts N.E.C., 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. Luddy Charitable 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 12/2023, Luddy Charitable Foundation generated $31.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 58.0% each year . All expenses for the organization totaled $2.0m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Luddy Charitable Foundation has awarded 107 individual grants totaling $11,427,000. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert L Luddy Director | 5 | $0 | |
William H Francis Jr Secretary | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $21,271,241 |
| Interest on Savings | $587,723 |
| Dividends & Interest | $706,990 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $8,694,301 |
| Capital Gain Net Income | $8,694,301 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $31,260,255 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,134 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $43,558 |
| Contributions, gifts, grants paid | $2,000,000 |
| Total expenses and disbursements | $2,043,558 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,614 |
| Savings and temporary cash investments | $820,019 |
| 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 | $0 |
| Other assets | $0 |
| Total assets | $56,618,386 |
| 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, Luddy Charitable Foundation has awarded $1,050,000 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
BARTON COLLEGE PURPOSE: GENERAL MISSION | $500,000 |
KNIGHTS OF COLUMBUS PURPOSE: GENERAL MISSION | $100,000 |
LEGION OF CHRIST PURPOSE: GENERAL MISSION | $200,000 |
RELIGIOUS FREEDOM INSTITUTE PURPOSE: GENERAL MISSION | $100,000 |
AMERICAN SPECTATOR FOUNDATION PURPOSE: GENERAL MISSION | $150,000 |