La-Z-Boy Foundation
- Assets
- $25.8m
- Revenue
- $1.8m
- Investments
- $25.7m
- Employees
- 0
- Location
- Monroe, MI
- Founding
- 03/1955
- Data as of
- 12/2023
- EIN
- 38-6087673
Organization Overview
La-Z-Boy Foundation is located in Monroe, MI. The organization was established in 1955. 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. La-Z-Boy 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, La-Z-Boy Foundation generated $1.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (5.2%) each year. All expenses for the organization totaled $1.5m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, La-Z-Boy Foundation has awarded 615 individual grants totaling $13,923,513. 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 |
|---|---|---|---|
Susan J Vanisacker Admin/treasu | 0 | $0 | |
Christopher Knabusch President | 0 | $0 | |
Beth A Lambrix Secretary | 0 | $0 | |
Melinda D Whittington Director | 0 | $0 | |
Lindsay A Barnes Director | 0 | $0 | |
Raphael Z Richmond Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $55 |
| Dividends & Interest | $1,498,997 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $273,715 |
| Capital Gain Net Income | $169,236 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,772,767 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $35,000 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $1,198 |
| Printing and publications | $0 |
| Other expenses | $6,156 |
| Total operating and administrative expenses | $98,001 |
| Contributions, gifts, grants paid | $1,391,950 |
| Total expenses and disbursements | $1,489,951 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,142 |
| Savings and temporary cash investments | $75,110 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $25,826,172 |
| 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, La-Z-Boy Foundation has awarded $2,312,550 in support to 107 organizations.
| Grant Recipient | Amount |
|---|---|
12TH JUDICIAL DIST CHILDRENS ADVOCA PURPOSE: HUMAN SERVICES | $2,500 |
ABILITY TREE PURPOSE: HUMAN SERVICES | $10,000 |
AFTERNOON ADVENTURE LEARNING CENTER PURPOSE: EDUCATION-LIBRARIES | $5,000 |
AMERICAN HEART ASSOCIATION PURPOSE: HEALTH CARE | $50,000 |
ALEXANDER COUNTY UNITED WAY PURPOSE: HUMAN SERVICES | $5,000 |
AMERICAN LEGION SILOAM POST 29 PURPOSE: PUBLIC BENEFIT | $4,000 |