Lemay Family Collection Foundation
- Assets
- $8.2m
- Revenue
- $648.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Tacoma, WA
- Founding
- 09/2013
- Data as of
- 12/2023
- EIN
- 27-3261388
Organization Overview
Lemay Family Collection Foundation is located in Tacoma, WA. The organization was established in 2013. According to its NTEE Classification (A50) the organization is classified as: Museums, 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. Lemay Family Collection 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, Lemay Family Collection Foundation generated $648.0k 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 (4.8%) each year. All expenses for the organization totaled $628.7k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (2.9%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
OPERATE MUSEUM FOR CONSERVATION & DISPLAY OF VINTAGE AUTOMOBILES AND RELATED ANTIQUES AS WELL AS OTHER VINTAGE ARTIFACTS FOR THE EDUCATION OF THE GENERAL PUBLIC
EDUCATIONAL TOURS OF HISTORICAL MILITARY ACADEMY & CHAPEL AS WELL AS VARIOUS EVENTS HELD AT THE HISTORICAL BUILDINGS AND GROUNDS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nancy Lemay President | 4 | $0 | |
Norman Lemay Vice President | 2 | $0 | |
Douglas Lemay Treasurer | 20 | $0 | |
Gertrude Cofchin Executive Director | 40 | $103,530 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $357,882 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $4,506 |
| Other Income | $285,658 |
| Total Revenue | $648,046 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $103,530 |
| Other employee salaries and wages | $175,628 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $32,201 |
| Depreciation | $71,597 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $191,279 |
| Total operating and administrative expenses | $623,933 |
| Contributions, gifts, grants paid | $4,800 |
| Total expenses and disbursements | $628,733 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $143,649 |
| Savings and temporary cash investments | $0 |
| 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 | $37,881 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $1,388,301 |
| Other assets | $6,618,716 |
| Total assets | $8,188,547 |
| Accounts payable and accrued expenses | $6,096 |
| 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 | $4,160 |
| Total liabilities | $10,256 |
Grants Awarded
Over the last fiscal year, Lemay Family Collection Foundation has awarded $4,800 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
MCCLEARY HISTORICAL SOCIETY PURPOSE: SPONSORSHIPS FOR EQUIPMENT AND PRODUCTION COSTS | $250 |
VFW EVENT PURPOSE: SITE SPONORSHIP | $100 |
WINTERFEST - PLU PURPOSE: EVENT SPONSORSHIP | $2,500 |
WASTE CONNECTIONS PURPOSE: BUILD A BIKE COMMUNITY PROGRAM | $500 |
LAKEWOOD CHAMBER OF COMMERCE PURPOSE: PATRON SPONSORSHIP | $1,450 |