Lycoming Foundation
- Assets
- $12.7m
- Revenue
- $456.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Williamsport, PA
- Founding
- 06/1957
- Data as of
- 12/2023
- EIN
- 23-6391089
Organization Overview
Lycoming Foundation is located in Williamsport, PA. The organization was established in 1957. 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. Lycoming Foundation is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2023, Lycoming Foundation generated $456.3k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $91.4k during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION MAKES LOANS THROUGH A REVOLVING LOAN FUND, TO PROMOTE LYCOMING COUNTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION IS OPERATED BY A BOARD OF TRUSTEES AND ITS PURPOSE IS TO PROMOTE THE ECONOMIC, COMMERCIAL, ANDINDUSTRIAL WELFARE OF LYCOMING COUNTY. THE FOUNDATION HAS CREATED A REVOLVING LOAN FUND TO CONSTRUCT AND REPAIR BUILDINGS, PURCHASE,SELL AND LEASE REAL ESTATE, AND TO LEND FUNDS FOR THE ECONOMIC DEVELOPMENT OF THE COUNTY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peter S Bower Trustee | Trustee | 1.5 | $0 |
Carl Chambers Trustee | Trustee | 1.5 | $0 |
Jonathan Dewald ESQ Trustee | Trustee | 1.5 | $0 |
Romey Fagnano Trustee | Trustee | 1 | $0 |
Kevin Hodrick Trustee | Trustee | 1.5 | $0 |
Allen W Kiessling Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $131,335 |
| Investment income | $197,055 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $127,731 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $456,259 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $76,690 |
| Fees for services: Other | $11,994 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,349 |
| All other expenses | $1,355 |
| Total functional expenses | $91,388 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,191,786 |
| 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 | $1,204 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $7,333,624 |
| Investments—other securities | $0 |
| Investments—program-related | $4,127,859 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $12,654,473 |
| Accounts payable and accrued expenses | $895 |
| 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 | $895 |
| Net assets without donor restrictions | $12,653,578 |
| 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 | $12,654,473 |
Grants Awarded
Over the last fiscal year, Lycoming Foundation has awarded $325,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
FIRST COMMUNITY FOUND PNTR OF PAFCFP PURPOSE: PROMOTINF EC ON DEVE | $250,000 |
FIRST COMMUNITY FOUND PNTR OF PAFCFP PURPOSE: CAPITAL CAMPAIGN | $75,000 |