The Lotos Foundation
- Assets
- $867.1k
- Revenue
- $202.9k
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- 12/2000
- Data as of
- 06/2023
- EIN
- 31-1706276
Organization Overview
The Lotos Foundation is located in New York, NY. The organization was established in 2000. 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. Lotos 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 06/2023, Lotos Foundation generated $202.9k 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 (31.2%) each year. All expenses for the organization totaled $157.2k during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (27.7%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Lotos Foundation has awarded 44 individual grants totaling $336,000. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE AND DEVELOP LITERATURE, ART, SCULPTURE, MUSIC, ARCHITECTURE, JOURNALISM, DRAMA, AND SCIENCE BY GRANTING SCHOLARSHIPS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANT SCHOLARSHIPS TO PROMOTE AND DEVELOP LITERATURE, ART, SCULPTURE, MUSIC, ARCHITECTURE, JOURNALISM, DRAMA AND SCIENCE TO STUDENTS.
THE PRESERVATION AND MAINTENANCE OF THE ARCHITECTURAL INTEGRITY AND DESIGN OF THE PUBLICLY VISIBLE FACADE OF THE LANDMARKED BUILDING LOCATED AT FIVE EAST SIXTY-SIXTH STREET.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patrick J Frawley President | OfficerTrustee | 3 | $0 |
Melvin Stecher Vice President | OfficerTrustee | 3 | $0 |
Bruce E Baldinger Treasurer | OfficerTrustee | 3 | $0 |
Meryl Briedbart Secretary | OfficerTrustee | 3 | $0 |
Stephen R Beckwith Board Member | Trustee | 3 | $0 |
Paul L Binder Board Member | Trustee | 3 | $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 | $171,290 |
| Noncash contributions included in lines 1a–1f | $5,634 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $171,290 |
| Total Program Service Revenue | $0 |
| Investment income | $25,810 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $5,781 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $202,881 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $64,000 |
| Grants and other assistance to domestic individuals. | $25,000 |
| 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 | $9,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,980 |
| Fees for services: Other | $31,456 |
| Advertising and promotion | $0 |
| Office expenses | $7,573 |
| 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 | $0 |
| All other expenses | $14,229 |
| Total functional expenses | $157,238 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $15,642 |
| Savings and temporary cash investments | $17,049 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $834,360 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $867,051 |
| Accounts payable and accrued expenses | $6,800 |
| 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 | $6,800 |
| Net assets without donor restrictions | $799,605 |
| Net assets with donor restrictions | $60,646 |
| 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 | $867,051 |
Grants Awarded
Over the last fiscal year, The Lotos Foundation has awarded $64,000 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN COMPOSERS ORCHESTRA PURPOSE: SCHOLARSHIP | $8,000 |
COMMUNITY WORD PROJECT PURPOSE: SCHOLARSHIP | $8,000 |
DEVELOPING ARTISTS THEATRE CO PURPOSE: SCHOLARSHIP | $8,000 |
MARK MORRIS DANCE GROUP PURPOSE: SCHOLARSHIP | $8,000 |
MOVE(NYC) PURPOSE: SCHOLARSHIP | $8,000 |
OPENING ACT PURPOSE: SCHOLARSHIP | $8,000 |