Lee Endowment Foundation
- Assets
- $753.9k
- Revenue
- -$49.9k
- Investments
- $748.5k
- Employees
- 0
- Location
- Mason City, IA
- Founding
- 09/1977
- Data as of
- 12/2022
- EIN
- 42-1074052
Organization Overview
Lee Endowment Foundation is located in Mason City, IA. The organization was established in 1977. 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. Lee Endowment 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, Lee Endowment Foundation generated -$49.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (11.3%) each year. All expenses for the organization totaled $29.5k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (11.3%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Lee Endowment Foundation has awarded 103 individual grants totaling $229,375. 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 Program Activity:
Part 3 - Line 4a
NOT APPLICABLE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ronald L Rickman Sec/treas/director | 1 | $0 | |
Howard Kennedy President/director | 1 | $0 | |
Cd Waterman III Asst Secretary | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $14 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$49,889 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | -$49,875 |
| 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 | $0 |
| Total operating and administrative expenses | $7,365 |
| Contributions, gifts, grants paid | $22,157 |
| Total expenses and disbursements | $29,522 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $5,385 |
| 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 | $753,858 |
| 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, Lee Endowment Foundation has awarded $22,157 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
FIRST PRESBYTERIAN CHURCH PURPOSE: OPERATIONS | $322 |
GLOBE GAZETTE CHRISTMAS CHEER FUND PURPOSE: OPERATIONS | $161 |
FRANCIS LAUER YOUTH SERVICES PURPOSE: YSS RAPID REHOUSING | $3,000 |
MASON CITY PARKS & REC DEPT PURPOSE: OPERATIONS | $1,611 |
NIACC FOUNDATION PURPOSE: SCHOLARSHIPS | $3,594 |
NORTH IOWA AREA COMMUNITY COLLEGE PURPOSE: PERFORMING ARTS & LEADERSHIP SERIES | $7,000 |