Lake Family Foundation
- Assets
- $11.6m
- Revenue
- $719.8k
- Investments
- $11.2m
- Employees
- 0
- Location
- Po Box Chi, IL
- Founding
- 02/1989
- Data as of
- 12/2023
- EIN
- 36-3613199
Organization Overview
Lake Family Foundation is located in Po Box Chi, IL. The organization was established in 1989. 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. Lake Family 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, Lake Family Foundation generated $719.8k 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 (8.5%) each year. All expenses for the organization totaled $720.4k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
C William Lake III President | 10 | $0 | |
Susan B Lake Secretary And Treas | 1 | $0 | |
Katherine Giron Director And VP | 1 | $0 | |
Peter Lake Director | 1 | $0 | |
Kerry Lake Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $365,818 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $354,000 |
| Capital Gain Net Income | $354,000 |
| Net ST Capital Gain | $0 |
| Income Modifications | $30,000 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $719,818 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $13,991 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $15 |
| Total operating and administrative expenses | $73,480 |
| Contributions, gifts, grants paid | $646,900 |
| Total expenses and disbursements | $720,380 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $402,393 |
| 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 | $486,086 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $11,559,680 |
| 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 |