Lavelle Fund For The Blind Inc
- Assets
- $163.3m
- Revenue
- $53.3m
- Investments
- $153.4m
- Employees
- 0
- Location
- New York, NY
- Founding
- 11/1941
- Data as of
- 12/2021
- EIN
- 13-1740463
Organization Overview
Lavelle Fund For The Blind Inc is located in New York, NY. The organization was established in 1941. 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. Lavelle Fund For The Blind Inc 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 12/2021, Lavelle Fund For The Blind Inc generated $53.3m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 43.3% each year . All expenses for the organization totaled $8.0m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Lavelle Fund For The Blind Inc has awarded 314 individual grants totaling $51,784,407. 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
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE BROTHER JAMES KEARNEY SCHOLARSHIP PROGRAM FOR THE BLIND AIMS TO HELP MAKE QUALITY UNDERGRADUATE AND GRADUATE EDUCATION AFFORDABLE FOR U.S. RESIDENTS WHO ARE LEGALLY BLIND AND FINANCIALLY NEEDY.BY ASSISTING INDIVIDUALS WHO ARE LEGALLY BLIND OR VISUALLY IMPAIRED IN ATTAINING QUALITY EDUCATION, THE SCHOLARSHIP PROGRAM FURTHERS THE FUND'S EXEMPT PURPOSE BY ASSISTING INDIVIDUALS WHO ARE LEGALLY BLIND OR VISUALLY-IMPAIRED LIVE INDEPENDENT AND PRODUCTIVE LIVES. THE SCHOLARSHIP PROGRAM IS INTENDED TO SUPPORT A LEGALLY BLIND OR VISUALLY IMPAIRED STUDENT'S FULL-TIME PROGRAM OF STUDY LEADING TO A 4-YEAR (BACHELOR'S) DEGREE OR GRADUATE DEGREE PROGRAM. IN 2021, THE FUND AWARDED A TOTAL OF $335,915 IN SCHOLARSHIP GRANTS. THE COST OF ADMINISTERING THE SCHOLARSHIP PROGRAM WAS $53,725.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Susan G Olivo Executive Director & CEO | 45 | $226,600 | |
Mannhi Chau Controller | 45 | $130,012 | |
Khanh Phan Grant Program Manage | 45 | $113,300 | |
Oliver Fuhrmann Office & Administrat | 35 | $56,000 | |
Kate Morris Scholarship Program | 17.5 | $52,530 | |
Hon Kevin B Mcgrath Jr Vice Chair & Director | 4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ubs | 12/30/21 | $116,472 |
American Capital Management Llc | 12/30/21 | $151,924 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $126 |
| Dividends & Interest | $2,569,728 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $50,666,892 |
| Capital Gain Net Income | $50,666,892 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $49,507 |
| Total Revenue | $53,286,253 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $226,600 |
| Other employee salaries and wages | $381,969 |
| Pension plans, employee benefits | $193,898 |
| Interest | $0 |
| Taxes | $660,000 |
| Depreciation | $0 |
| Occupancy | $127,291 |
| Travel, conferences, and meetings | $3,969 |
| Printing and publications | $32 |
| Other expenses | $53,851 |
| Total operating and administrative expenses | $2,000,607 |
| Contributions, gifts, grants paid | $5,991,248 |
| Total expenses and disbursements | $7,991,855 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $239,545 |
| Savings and temporary cash investments | $9,316,795 |
| 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 | $332,000 |
| 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 | $163,250,000 |
| 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, Lavelle Fund For The Blind Inc has awarded $17,816,023 in support to 112 organizations.
| Grant Recipient | Amount |
|---|---|
Sparkill, NY PURPOSE: SCH2014-11: BROTHER KEARNEY SCHOLARSHIP PROGRAM, PHASE 3, JULY 2014 - JUNE 2019 | $558,401 |
Fairfield, CT PURPOSE: SCH2016-12: BROTHER KEARNEY SCHOLARSHIP PROGRAM, PHASE 3, JULY 2014 - JUNE 2019 | $544,138 |
Orangeburg, NY PURPOSE: SCH2014-2: BROTHER KEARNEY SCHOLARSHIP PROGRAM, PHASE 3, JULY 2014 - JUNE 2019 | $533,291 |
Purchase, NY PURPOSE: SCH2014-5: BROTHER KEARNEY SCHOLARSHIP PROGRAM, PHASE 3, JULY 2014 - JUNE 2019 | $530,351 |
South Orange, NJ PURPOSE: SCH2014-9: BROTHER KEARNEY SCHOLARSHIP PROGRAM, PHASE 3, JULY 2014 - JUNE 2019 | $476,721 |
Orangeburg, NY PURPOSE: #21-19: HYBRID ONLINE LEARNING FOR TEACHERS OF STUDENTS WHO ARE BLIND OR VISUALLY IMPAIRED (TVIS) INCLUDING THOSE WITH MULTIPLE DISABILITIES, IN THE GREATER NEW YORK METROPOLITAN AREA | $468,822 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Redhill Foundation-Sam And Jean Rothberg Family Charitable Trust New York, NY | $42,979,654 | $7,387,635 |
Stadler Family Charitable Foundation Inc Titusville, NJ | $29,757,304 | $26,067,204 |
Robert W Wilson Charitable Tr New York, NY | $246,803,641 | $15,248,568 |
The Zegar Family Foundation New York, NY | $255,794,688 | $35,430,517 |
Lenfest Foundation Inc Philadelphia, PA | $0 | $560,962 |
The Blackrock Charitable Foundation New York, NY | $304,949,202 | $10,722,340 |
High Meadows Foundation Boston, MA | $7,499,132 | $11,021,494 |
Zankel Fund New York, NY | $8,426,526 | $6,600,017 |
Synchrony Foundation Stamford, CT | $74,474,766 | $12,637,293 |
Gavin Foundation Inc South Boston, MA | $19,688,054 | $21,343,242 |
Jp Fletcher Foundation Inc Cambridge, MA | $29,829,221 | -$3,521,275 |
Estee Lauder Companies Charitable Foundation New York, NY | $35,974,866 | $21,957,506 |