Lavelle Fund For The Blind Inc
- Assets
- $128.8m
- Revenue
- $929.7k
- Investments
- $118.6m
- Employees
- 0
- Location
- New York, NY
- Founding
- 11/1941
- Data as of
- 12/2022
- 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 12/2022, Lavelle Fund For The Blind Inc generated $929.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (41.7%) each year. All expenses for the organization totaled $7.8m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Lavelle Fund For The Blind Inc has awarded 310 individual grants totaling $48,101,472. 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
2022
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 2022, THE FUND AWARDED A TOTAL OF $339,651 IN SCHOLARSHIP GRANTS. THE COST OF ADMINISTERING THE SCHOLARSHIP PROGRAM WAS $55,500.
THE LAVELLE LEADERS AWARD FOR HIGHER EDUCATION STUDENTS IS A ONE-TIME ONLY SCHOLARSHIPS OF $5,000 AWARDED YEARLY TO TWO OUTSTANDING SCHOLARS ATTENDING ONE OF OUR PARTNER COLLEGES AND UNIVERSITIES. THIS COMPETITIVE, MERIT-BASED AWARD IS OPEN TO CURRENT COLLEGE JUNIORS, SENIORS, OR GRADUATE STUDENTS WHO HAVE DEMONSTRATED THE HIGHEST LEVELS OF ACADEMIC ACHIEVEMENT AND WHOSE LEADERSHIP EXPERIENCE AND SCHOOL, CAREER, OR COMMUNITY ENGAGEMENT HAVE MADE A SIGNIFICANT IMPACT. SUCCESSFUL LAVELLE LEADERS AWARD APPLICANTS WILL DEMONSTRATE A STEADFAST PURSUIT OF THEIR GOALS. DURING 2022, THE FUND AWARDED 2 $5,000 AWARDS TOTALING $10,000.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Louis D Pizzarello MD MPH Board Chair & Director | 10 | $0 | |
Hon Kevin B Mcgrath Jr Vice Chair & Director | 4 | $0 | |
John L Corcoran CPA Treasurer & Director | 4 | $0 | |
Daniel M Callahan Secretary & Director | 4 | $0 | |
Margaret Duffy Director | 1 | $0 | |
Sister Mary Flood Op MD PHD Director | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
American Capital Management Llc | 12/30/21 | $151,924 |
Ubs | 12/30/21 | $116,472 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $2,594,664 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$1,666,407 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,488 |
| Total Revenue | $929,745 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $245,196 |
| Other employee salaries and wages | $397,630 |
| Pension plans, employee benefits | $198,901 |
| Interest | $0 |
| Taxes | $108,873 |
| Depreciation | $0 |
| Occupancy | $130,159 |
| Travel, conferences, and meetings | $4,716 |
| Printing and publications | $0 |
| Other expenses | $65,009 |
| Total operating and administrative expenses | $1,344,930 |
| Contributions, gifts, grants paid | $6,493,799 |
| Total expenses and disbursements | $7,838,729 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $396,261 |
| Savings and temporary cash investments | $9,506,512 |
| 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 | $128,801,240 |
| 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 $13,301,257 in support to 97 organizations.
| Grant Recipient | Amount |
|---|---|
A CLOSER LOOK INC PURPOSE: #22-19D: GOING BLIND AND GOING FORWARD OUTREACH | $15,000 |
AMERICAN PRINTING HOUSE FOR THE BLIND PURPOSE: #22:15: APH CONNECTCENTER | $185,375 |
AMERICAN PRINTING HOUSE FOR THE BLIND PURPOSE: #22-04D: SPANISH-LANGUAGE, ACCESSIBLE PDF FORMAT OF THE PREVIOUSLY TRANSLATED PHYSICAL EDUCATION AND SPORTS FOR PEOPLE WITH VISUAL IMPAIRMENTS AND DEAFBLINDNESS: FOUNDATIONS OF INSTRUCTION | $4,750 |
BENETECH PURPOSE: #21-18: BOOKSHARE IN INDIA: PATHWAYS TO INDEPENDENCE | $214,832 |
ASSOCIATION FOR VISION REHABILITATION AND EMPLOYMENT PURPOSE: #22-27D: EMERGENCY FUNDING FOR SHEETER | $30,000 |
BETANCES HEALTH CENTER PURPOSE: #22-20: VISION CARE EXPANSION INITIATIVE | $200,000 |