Laughlin Memorial Incorporated
- Assets
- $3.1m
- Revenue
- $175.9k
- Investments
- $2.5m
- Employees
- 0
- Location
- Pittsburgh, PA
- Founding
- 08/1948
- Data as of
- 12/2022
- EIN
- 25-1072140
Organization Overview
Laughlin Memorial Incorporated is located in Pittsburgh, PA. The organization was established in 1948. According to its NTEE Classification (A80) the organization is classified as: Historical Organizations, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Laughlin Memorial Incorporated 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, Laughlin Memorial Incorporated generated $175.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (18.2%) each year. All expenses for the organization totaled $364.8k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Laughlin Memorial Incorporated has awarded 125 individual grants totaling $1,617,436. 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
SINCE 1928 LAUGHLIN MEMORIAL HAS PROVIDED FUNDS FOR THE REPAIRS AND MAINTENANCE OF THE LAUGHLIN MEMORIAL FREE LIBRARY IN AMBRIDGE PA. OTHER EXPENSES INCLUDE GENERAL, INVESTMENT MANAGEMENT FEES, TRAVEL CONFERENCES, MEETINGS AND INSURANCE.
FUNDS IN EXCESS OF ACTIVITY ONE ARE CONTRIBUTED TO VARIOUS CHARITABLE ORGANIZATIONS IN AMBRIDGE, SEWICKLEY AND THE SURROUNDING AREAS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alex M Laughlin Co David Laughlin Trustee | 0 | $0 | |
David W Laughlin Trustee | 0 | $0 | |
James F Schell Trustee | 0 | $0 | |
Robert E Taggart Trustee | 0 | $0 | |
Todd A Sacco Trustee | 10 | $25,000 | |
Mary Laughlin Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $13,615 |
| Interest on Savings | $7,602 |
| Dividends & Interest | $46,028 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $108,649 |
| Capital Gain Net Income | $108,649 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $175,894 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $25,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $15,946 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $364 |
| Total operating and administrative expenses | $89,450 |
| Contributions, gifts, grants paid | $275,324 |
| Total expenses and disbursements | $364,774 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | -$1 |
| Savings and temporary cash investments | $65,801 |
| 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 | $826,317 |
| Net Land, buildings, and equipment | $378,101 |
| Other assets | $181,598 |
| Total assets | $3,144,208 |
| 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, Laughlin Memorial Incorporated has awarded $275,324 in support to 14 organizations.
| Grant Recipient | Amount |
|---|---|
BADEN MEMORIAL LIBRARY PURPOSE: OPERATING BUDGET | $1,000 |
CENTER FOR HOPE PURPOSE: OPERATING BUDGET | $15,000 |
CORNELL HIGH SCHOOL PURPOSE: OPERATING BUDGET | $3,500 |
FRIENDS OF OLD ECONOMY PURPOSE: OPERATING BUDGET | $3,000 |
IRON HORSE THEATRE PURPOSE: OPERATING BUDGET | $5,000 |
MARY & ALEXANDER LAUGHLIN CHILDREN'S CENTER PURPOSE: OPERATING BUDGET | $35,000 |