Charles O Lee Jr And Louise K Lee Charitable Foundation Trust
- Assets
- $10.8m
- Revenue
- $785.1k
- Investments
- $10.3m
- Employees
- 0
- Location
- Bloomfield Hills, MI
- Founding
- 10/2006
- Data as of
- 12/2022
- EIN
- 20-6559686
Organization Overview
Charles O Lee Jr And Louise K Lee Charitable Foundation Trust is located in Bloomfield Hills, MI. The organization was established in 2006. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Charles O Lee Jr And Louise K Lee Charitable Foundation Trust 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, Charles O Lee Jr And Louise K Lee Charitable Foundation Trust generated $785.1k 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 (6.1%) each year. All expenses for the organization totaled $1.6m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $2,289 |
| Dividends & Interest | $545,493 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $237,333 |
| Capital Gain Net Income | $237,333 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $785,115 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $78,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $38,647 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $214,093 |
| Contributions, gifts, grants paid | $1,380,000 |
| Total expenses and disbursements | $1,594,093 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,114 |
| Savings and temporary cash investments | $475,664 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $10,752,314 |
| 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 |