Carl A Lemcool Memorial Foundation Inc
- Assets
- $967.1k
- Revenue
- $102.6k
- Investments
- $935.5k
- Employees
- 0
- Location
- Traverse City, MI
- Founding
- 02/1984
- Data as of
- 12/2022
- EIN
- 38-2491833
Organization Overview
Carl A Lemcool Memorial Foundation Inc is located in Traverse City, MI. The organization was established in 1984. According to its NTEE Classification (T11) the organization is classified as: Single Organization Support, 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. Carl A Lemcool Memorial Foundation Inc 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, Carl A Lemcool Memorial Foundation Inc generated $102.6k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 16.5% each year . All expenses for the organization totaled $62.3k during the year ending 12/2022. While expenses have increased by 3.0% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Carl A Lemcool Memorial Foundation Inc has awarded 19 individual grants totaling $207,918. 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 Mission:
Part 3 - Line 1
TO PROVIDE THE CHARITABLE GIVING REQUIRED IN THE BYLAWS OF THE EXCHANGE CLUB OF TRAVERSE CITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION AWARDS GRANTS TO NOT-FOR-PROFIT ORGANIZATIONS THAT SERVE THE CHILDREN AND YOUTH OF THE GREATER GRAND TRAVERSE AREA. FOUR GRANTS WERE APPROVED IN 2018 FOR A TOTAL OF $29,625. THE GRANTS WERE PAID IN NOVEMBER AND DECEMBER OF 2018.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Grant Klaver Secretary | 1 | $0 | |
Aaron Mansfield Treasurer | 1 | $0 | |
William Hemming Director | 1 | $0 | |
Raleigh Newman Director | 1 | $0 | |
Tyler Bartosh President | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $52,974 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $49,675 |
| Capital Gain Net Income | $49,675 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $102,649 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $252 |
| Total operating and administrative expenses | $11,343 |
| Contributions, gifts, grants paid | $51,000 |
| Total expenses and disbursements | $62,343 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $31,537 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $935,543 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $967,080 |
| 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, Carl A Lemcool Memorial Foundation Inc has awarded $51,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
GRAND TRAVERSE CONSERVATION DISTRICT PURPOSE: PROVIDED AMOUNT AS MATCH TO HELP BUILD A BRIDGE, INSPIRE EXPLORATION, APPRECIATION AND CONSERVATION OF OUR NATURAL WORLD. | $25,000 |
CHILD & FAMILY SERVICES PURPOSE: PROVIDED AMOUNT FOR THE PURPOSE OF VISIT ROOM RENOVATIONS AND CONSTRUCTION OF A GAZEBO TO BE USED AS AN OUTSIDE VISIT SPACE. | $12,000 |
TCAPS STEP PROGRAM PURPOSE: PROVIDED AMOUNT IN SUPPORT OF CHILDREN IN ORDER TO SUPPORT SCHOOL STABILITY. | $9,000 |
TRAVERSE BAY CHILDREN'S ADVOCACY CENTER PURPOSE: PROVIDED AMOUNT TO BE USED TOWARDS EFFORTS TO PROVIDE JUSTICE, HOPE AND HEALING TO CHILD VICTIMS OF ABUSE AND VIOLENCE IN OUR COMMUNITY. | $5,000 |