Les Paul Foundation
- Assets
- $38.4m
- Revenue
- $1.4m
- Investments
- $36.1m
- Employees
- 0
- Location
- Syosset, NY
- Founding
- 03/1997
- Data as of
- 12/2022
- EIN
- 13-3911396
Organization Overview
Les Paul Foundation is located in Syosset, NY. The organization was established in 1997. 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. Les Paul 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 12/2022, Les Paul Foundation generated $1.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $2.0m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Les Paul Foundation has awarded 291 individual grants totaling $3,695,170. 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
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael K Braunstein Executive Director | 40 | $378,384 | |
Jeff Salmon Trustee | 0 | $0 | |
Arlene Palmer Trustee | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mouth To Mouth Pr Llc | 12/30/17 | $63,250 |
Mouth To Mouth Pr Llc | 12/30/17 | $0 |
Susan K Baker | 12/30/17 | $55,860 |
Susan K Baker | 12/30/17 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $85,770 |
| Interest on Savings | $32 |
| Dividends & Interest | $1,010,980 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $322,995 |
| Capital Gain Net Income | $322,995 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $28,411 |
| Total Revenue | $1,448,188 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $378,384 |
| Other employee salaries and wages | $84,000 |
| Pension plans, employee benefits | $60,657 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $1,234 |
| Occupancy | $78,231 |
| Travel, conferences, and meetings | $46,629 |
| Printing and publications | $0 |
| Other expenses | $332,402 |
| Total operating and administrative expenses | $1,479,628 |
| Contributions, gifts, grants paid | $565,540 |
| Total expenses and disbursements | $2,045,168 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $275,831 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $1,868,280 |
| 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 | $6,976,528 |
| Net Land, buildings, and equipment | $3,565 |
| Other assets | $198,221 |
| Total assets | $38,433,899 |
| Accounts payable and accrued expenses | $22,433 |
| 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 | $22,433 |
Grants Awarded
Over the last fiscal year, Les Paul Foundation has awarded $565,540 in support to 72 organizations.
| Grant Recipient | Amount |
|---|---|
A PLACE CALLED HOME PURPOSE: BUILD LP PRO TOOLS LEARNING LAB | $2,500 |
ACCEL PURPOSE: MENTORSHIP PROGRAM | $2,500 |
AFTER SCHOOL ALL STARS PURPOSE: MUSIC PROGRAMS | $5,000 |
ALGIERS CHARTER SCHOOL ASSOCIATION PURPOSE: SUPPORTING FUNDS FOR MUSIC PROGRAMS | $2,000 |
AUSTIN ACHIEVE PUBLIC SCHOOLS PURPOSE: MUSIC PROGRAMS | $1,000 |
BANGTOWN STUDIO ON THE GO PURPOSE: MUSIC PROGRAMS | $10,000 |