Lyford Cay Foundation Inc
- Assets
- $30.0m
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Greenwich, CT
- Founding
- 07/1969
- Data as of
- 12/2020
- EIN
- 23-7025275
Organization Overview
Lyford Cay Foundation Inc is located in Greenwich, CT. The organization was established in 1969. According to its NTEE Classification (T90) the organization is classified as: Named Trusts N.E.C., 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. Lyford Cay 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 12/2020, Lyford Cay Foundation Inc generated $2.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (6.5%) each year. All expenses for the organization totaled $4.5m during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Lyford Cay Foundation Inc has awarded 291 individual grants totaling $5,083,263. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION PROVIDES ACADEMIC AND TECHNICAL TRAINING & VOCATIONAL SCHOLARSHIPS FOR DESERVING BAHAMIAN STUDENTS ATTENDING COLLEGES, UNIVERSITIES AND OTHER EDUCATIONAL INSTITUTIONS INTERNATIONALLY. FOR THE FISCAL YEAR 2021, THIRTY-THREE (33) SCHOLARSHIPS WERE GRANTED TO TWENTY-NINE (29) INSTITUTIONS, TOTALING $457,195.
THE FOUNDATION PROVIDES GRANTS TO NOT-FOR-PROFIT ORGANIZATIONS THAT SEEK TO IMPROVE THE GENERAL EDUCATION, HEALTH AND WELFARE OF THE COMMUNITIES THAT THEY SERVE. IN 2021, GRANTS WERE MADE TO EIGHT (8) ORGANIZATIONS, TOTALING $369,000.
THE FOUNDATION PROVIDES AN EDUCATION INITIATIVE, F.O.C.U.S., WHICH IS AN EIGHT-YEAR SCHOOL ENRICHMENT PROGRAMME DESIGNED TO SET UNDER-RESOURCED STUDENTS ON A PATH TO COLLEGE AND CAREER SUCCESS THROUGH WEEKEND AND SUMMER CLASSES. IN 2021, THE PROGRAMME HOSTED TWO HUNDRED FORTY-TWO (242) STUDENTS, FOR A TOTAL COST OF $471,498.
SPECIAL PROJECTS AND VOLUNTEER PROGRAMMEEXPENSES $ 56,448.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mr Basil P Goulandris Chair | OfficerTrustee | 7 | $0 |
Mrs Sarah A Farrington Vice Chair | OfficerTrustee | 5 | $0 |
Mr Jeffrey A Everett President | OfficerTrustee | 5 | $0 |
Mr John T Crone IV Treasurer | OfficerTrustee | 5 | $0 |
Mr E Parker Neave Secretary | OfficerTrustee | 5 | $0 |
Lady Camille Barnett Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,616,006 |
| Investment income | $390,529 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $260,514 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,393,799 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $2,641,400 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $417,166 |
| Pension plan accruals and contributions | $7,823 |
| Other employee benefits | $76,437 |
| Payroll taxes | $16,003 |
| Fees for services: Management | $12,600 |
| Fees for services: Legal | $13,953 |
| Fees for services: Accounting | $47,145 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $146,070 |
| Fees for services: Other | $0 |
| Advertising and promotion | $74,197 |
| Office expenses | $54,288 |
| Information technology | $90,736 |
| Royalties | $0 |
| Occupancy | $39,132 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $535 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,996 |
| All other expenses | $0 |
| Total functional expenses | $4,549,438 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,500,947 |
| Savings and temporary cash investments | $1,473,313 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $204,016 |
| 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 | $15,660 |
| Investments—publicly traded securities | $26,759,906 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $29,953,842 |
| Accounts payable and accrued expenses | $125,693 |
| Grants payable | $7,500 |
| 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 | $133,193 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $29,820,649 |
Grants Awarded
Over the last fiscal year, Lyford Cay Foundation Inc has awarded $363,500 in support to 23 organizations.
| Grant Recipient | Amount |
|---|---|
MIDWESTERN STATE UNIVERSITY PURPOSE: SCHOLARSHIP ASSISTANCE FOR POST-SECONDARY EDUCATION | $30,000 |
FLORIDA INTERNATIONAL UNIVERSITY PURPOSE: SCHOLARSHIP ASSISTANCE FOR POST-SECONDARY EDUCATION | $30,000 |
Lakeland, FL PURPOSE: SCHOLARSHIP ASSISTANCE FOR POST-SECONDARY EDUCATION | $25,000 |
Danville, VA PURPOSE: SCHOLARSHIP ASSISTANCE FOR POST-SECONDARY EDUCATION | $15,000 |
APPALACHIAN STATE UNIVERSITY PURPOSE: SCHOLARSHIP ASSISTANCE FOR POST-SECONDARY EDUCATION | $15,000 |
New York, NY PURPOSE: SCHOLARSHIP ASSISTANCE FOR POST-SECONDARY EDUCATION | $15,000 |
Grants Recieved
Over the last fiscal year, we have identified 12 grants that Lyford Cay Foundation Inc has recieved totaling $252,459.
| Awarding Organization | Amount |
|---|---|
John Templeton Foundation West Conshohocken, PA PURPOSE: FOR GENERAL SUPPORT | $90,000 |
Constance Goulandris Foundation Inc New York, NY PURPOSE: TO AID IN THE ORGANIZATION'S CHARITABLE PURPOSE | $65,000 |
Little Family Foundation Detroit, MI PURPOSE: SUPPORT OF DAILY OPERATIONS | $25,000 |
Margaret Mellon Hitchcock Foundation Pittsburgh, PA PURPOSE: GENERAL OPERATING | $20,000 |
Deborah L Brice Foundation New York, NY PURPOSE: GENERAL PURPOSE CONTRIBUTION | $20,000 |
Ussga Memorial Fund Inc Elmsford, NY PURPOSE: SCHOLARSHIP FUNDING | $10,000 |
Endowment Analysis
| Beg. Balance | $2,559,358 |
| Earnings | $271,127 |
| Admin Expense | $16,904 |
| Grants | $50,500 |
| Ending Balance | $2,763,081 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Natural Heritage Trust Albany, NY | $68,314,961 | $23,861,363 |
Hollow Metal Trust Fund New York, NY | $38,290,021 | $12,661,866 |
Halvorsen Family Foundation Greenwich, CT | $235,306,066 | $4,015,208 |
Lynch Foundation Boston, MA | $176,006,196 | $42,142,694 |
Foundation Berma New York, NY | $320,553,699 | $33,382,644 |
Bam Endowment Trust Brooklyn, NY | $106,959,115 | $5,566,840 |
John R Oishei Consolidated Tr 01091998 Buffalo, NY | $21,967,662 | $5,743,689 |
Goldstein Family Foundation Spring Valley, NY | $15,534,248 | $10,502,547 |
Sol Goldman Charitable Trust New York, NY | $0 | $3,639,060 |
Schwartz Fam Foundation Tr New York, NY | $15,701,646 | $4,641,500 |
Lyford Cay Foundation Inc Greenwich, CT | $29,953,842 | $2,393,799 |
Wings For Things Foundation Inc Sandy Hook, CT | $31,046,537 | $6,302,092 |