Cline-Lofftus Foundation
- Assets
- $960.6k
- Revenue
- $55.2k
- Investments
- $524.7k
- Employees
- 0
- Location
- Monmouth, IL
- Founding
- 11/1988
- Data as of
- 12/2022
- EIN
- 37-1216128
Organization Overview
Cline-Lofftus Foundation is located in Monmouth, IL. The organization was established in 1988. 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. Cline-Lofftus 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 12/2022, Cline-Lofftus Foundation generated $55.2k 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 (13.7%) each year. All expenses for the organization totaled $180.0k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Cline-Lofftus Foundation has awarded 39 individual grants totaling $440,000. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William R Pillman President | 2 | $4,500 | |
Jane H Pratt Secretary | 2 | $4,500 | |
Dorothy Ricketts Trustee | 2 | $4,500 | |
Mary Ann Penn Trustee | 2 | $4,500 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $118 |
| Dividends & Interest | $8,583 |
| Net Rental Income | $49,875 |
| Net Gain on Sale of Assets | -$3,389 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $55,187 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $18,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $12,745 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $12,795 |
| Total operating and administrative expenses | $50,040 |
| Contributions, gifts, grants paid | $130,000 |
| Total expenses and disbursements | $180,040 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $30,277 |
| Savings and temporary cash investments | $51,753 |
| 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 | $3,185 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $350,745 |
| Other assets | $0 |
| Total assets | $960,642 |
| Accounts payable and accrued expenses | $26,002 |
| 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 | $26,002 |
Grants Awarded
Over the last fiscal year, Cline-Lofftus Foundation has awarded $130,000 in support to 13 organizations.
| Grant Recipient | Amount |
|---|---|
DES MOINES COUNTY HISTORICAL SOCIETY PURPOSE: EDUCATIONAL | $3,000 |
FIRST FEDERATED CHURCH PURPOSE: EDUCATIONAL | $4,500 |
ILLINOIS VALLEY PUBLIC TELEVISION PURPOSE: EDUCATIONAL | $12,000 |
HANCOCK COUNTY HISTORICAL SOCIETY PURPOSE: EDUCATIONAL | $2,000 |
PEORIA COUNTY HISTORICAL SOCIETY PURPOSE: EDUCATIONAL | $4,000 |
SMITHSONIAN INSTITUTION OF AMERICAN HISTORY PURPOSE: EDUCATIONAL | $500 |