Louis N Cassett Foundation
- Assets
- $9.1m
- Revenue
- $254.6k
- Investments
- $8.3m
- Employees
- 0
- Location
- Philadelphia, PA
- Founding
- 02/1948
- Data as of
- 12/2023
- EIN
- 23-6274038
Organization Overview
Louis N Cassett Foundation is located in Philadelphia, PA. The organization was established in 1948. 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. Louis N Cassett 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 12/2023, Louis N Cassett Foundation generated $254.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (23.2%) each year. All expenses for the organization totaled $697.6k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Louis N Cassett Foundation has awarded 376 individual grants totaling $2,355,573. 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
2023
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 |
|---|---|---|---|
Malcolm B Jacobson Trustee | 10 | $22,991 | |
Susan Kershbaum Trustee | 2 | $7,040 | |
Vanessa Elias Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $274,492 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$19,853 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1 |
| Total Revenue | $254,640 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $33,031 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $3,917 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $71,528 |
| Total operating and administrative expenses | $133,226 |
| Contributions, gifts, grants paid | $564,381 |
| Total expenses and disbursements | $697,607 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $16,458 |
| Savings and temporary cash investments | $788,287 |
| 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 | $9,113,802 |
| Accounts payable and accrued expenses | $231 |
| 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 | $1,806 |
| Total liabilities | $2,037 |
Grants Awarded
Over the last fiscal year, Louis N Cassett Foundation has awarded $564,381 in support to 86 organizations.
| Grant Recipient | Amount |
|---|---|
ABRAMSON SENIOR CARE PURPOSE: TO FURTHER EXEMPT PURPOSE | $4,000 |
ACT II PLAYHOUSE PURPOSE: TO FURTHER EXEMPT PURPOSE | $2,000 |
ACHIEVABILITY PURPOSE: TO FURTHER EXEMPT PURPOSE | $20,000 |
ALLIANCE THEATRE PURPOSE: TO FURTHER EXEMPT PURPOSE | $5,000 |
ALS ASSOCIATION - DELAWARE VALLEY PURPOSE: TO FURTHER EXEMPT PURPOSE | $500 |
ALZAR SCHOOL INC PURPOSE: TO FURTHER EXEMPT PURPOSE | $10,000 |