The Luxury Education Foundation
- Assets
- $261.7k
- Revenue
- $153.0k
- Investments
- $0.0
- Employees
- 1
- Location
- New York, NY
- Founding
- 11/1988
- Data as of
- 12/2021
- EIN
- 13-3490808
Organization Overview
The Luxury Education Foundation is located in New York, NY. The organization was established in 1988. According to its NTEE Classification (T70) the organization is classified as: Federated Giving Programs, 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. Luxury Education 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 12/2021, Luxury Education Foundation generated $153.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (10.0%) each year. All expenses for the organization totaled $184.8k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (12.4%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE LUXURY EDUCATION FOUNDATION SUPPORTS EDUCATIONAL PROGRAMS FOR STUDENTS IN THE DISCIPLINES OF DESIGN AND BUSINESS WITH RESPECT TO CREATION AND MARKETING OF LUXURY GOODS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATIONAL - GRANTS MADE TO LEARNING INSTITUTIONS TO FACILITATE SUPPORT OF DESIGN AND BUSINESS COURSES IN THE LUXURY FIELD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kathryn Lichty Employee | 40 | $126,500 | |
Ketty Maisonrouge President | OfficerTrustee | 0.1 | $0 |
Maz Zouhairi Internal Auditor | OfficerTrustee | 0.1 | $0 |
Robert Chavez Chair | OfficerTrustee | 0.1 | $0 |
Joyce Green Treasurer | OfficerTrustee | 0.1 | $0 |
Safwan Masri Secretary | OfficerTrustee | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $41,981 |
| All other contributions, gifts, grants, and similar amounts not included above | $110,986 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $152,967 |
| Total Program Service Revenue | $0 |
| Investment income | $23 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $152,990 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $15,000 |
| Grants and other assistance to domestic individuals. | $1,190 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $120,000 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $9,697 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,942 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $941 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $222 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $9,092 |
| All other expenses | $0 |
| Total functional expenses | $184,757 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $261,713 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $261,713 |
| Accounts payable and accrued expenses | $27,123 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $27,123 |
| Net assets without donor restrictions | $234,590 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $261,713 |
Grants Awarded
Over the last fiscal year, The Luxury Education Foundation has awarded $21,500 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
PARSONS THE NEW SCHOOL PURPOSE: $11,000 GRANT FOR THE DESIGN AND SUPPORT OF INTER DISCIPLINARY COURSES. | $11,000 |
COLUMBIA BUSINESS SCHOOL PURPOSE: $10,500 GRANT TO SUPPORT THE DESIGN AND SUPPORT OF INTER DISCIPLINARY COURSES. | $10,500 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that The Luxury Education Foundation has recieved totaling $250.
| Awarding Organization | Amount |
|---|---|
Kay Unger Family Foundation Inc New York, NY PURPOSE: GENERAL AND/OR EDUCATIONAL PURPOSES | $250 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
United Way Of New York City New York, NY | $40,512,646 | $61,047,819 |
United Way Of Massachusetts Bay Inc Boston, MA | $61,459,192 | $54,248,060 |
Childrens Rescue Fund Bronx, NY | $24,029,170 | $53,044,030 |
Jewish Federation Of Greater Philadelphia Philadelphia, PA | $424,827,168 | $56,076,653 |
Masonic Charity Foundation Of New Jersey Burlington, NJ | $172,221,934 | $43,314,018 |
United Way Of Greater Rochester And The Finger Lakes Inc Rochester, NY | $189,540,443 | $45,112,374 |
The United Way Of Southwestern Pennsylvania Pittsburgh, PA | $71,821,513 | $41,142,392 |
United Way Of Connecticut Rocky Hill, CT | $9,253,569 | $38,307,240 |
Jewish Federation Of Greater Pittsburgh Pittsburgh, PA | $277,158,927 | $43,372,124 |
Foundation For Jewish Philanthropies Getzville, NY | $249,898,212 | $25,804,353 |
United Way Of Greater Philadelphia And Southern New Jersey Philadelphia, PA | $111,398,154 | $23,240,167 |
Colcom Foundation Pittsburgh, PA | $406,634,028 | $48,313,267 |