The Lawrence And Lillian Solomon Foundation Inc
- Assets
- $7.5m
- Revenue
- $1.4m
- Investments
- $6.8m
- Employees
- 0
- Location
- Wellesley, MA
- Founding
- 05/2005
- Data as of
- 12/2022
- EIN
- 20-2631943
Organization Overview
The Lawrence And Lillian Solomon Foundation Inc is located in Wellesley, MA. The organization was established in 2005. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Lawrence And Lillian Solomon Foundation 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, Lawrence And Lillian Solomon Foundation Inc generated $1.4m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 21.2% each year . All expenses for the organization totaled $1.0m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Lawrence And Lillian Solomon Foundation Inc has awarded 160 individual grants totaling $1,136,876. 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
NONE. ALL OF THE FOUNDATION'S ACTIVITIES WERE INDIRECT (NOT DIRECT) CHARITABLE ACTIVITIES ACCORDING TO REGULATION SECTION 53.4942(B)-(1)(B)(1).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Solomon Director | 20 | $15,000 | |
Herbert Nolan Executive Director | 40 | $175,689 | |
Betty Jane Krintzman Asst. Director | 3 | $44,237 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $500,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $232,073 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $697,065 |
| Capital Gain Net Income | $697,065 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,429,138 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $190,689 |
| Other employee salaries and wages | $51,729 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $18,748 |
| Depreciation | $3,973 |
| Occupancy | $59,600 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $188,585 |
| Total operating and administrative expenses | $664,091 |
| Contributions, gifts, grants paid | $348,241 |
| Total expenses and disbursements | $1,012,332 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $673,761 |
| Savings and temporary cash investments | $0 |
| 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 | $300,000 |
| Net Land, buildings, and equipment | $10,791 |
| Other assets | $9,000 |
| Total assets | $7,494,535 |
| 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, The Lawrence And Lillian Solomon Foundation Inc has awarded $348,241 in support to 56 organizations.
| Grant Recipient | Amount |
|---|---|
BIKE TO THE SEA PURPOSE: FULFILL CHARITABLE PURPOSE | $5,000 |
BIKE TO THE SEA PURPOSE: FULFILL CHARITABLE PURPOSE | $25,000 |
BIKE TO THE SEA PURPOSE: FULFILL CHARITABLE PURPOSE | $25,000 |
BIKE TO THE SEA PURPOSE: FULFILL CHARITABLE PURPOSE | $5,000 |
BIKE TO THE SEA PURPOSE: FULFILL CHARITABLE PURPOSE | $104 |
BIKE TO THE SEA PURPOSE: FULFILL CHARITABLE PURPOSE | $10,000 |