Loralee Foundation
- Assets
- $225.8k
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Austin, TX
- Founding
- 04/2014
- Data as of
- 12/2022
- EIN
- 45-3036156
Organization Overview
Loralee Foundation is located in Austin, TX. The organization was established in 2014. According to its NTEE Classification (E86) the organization is classified as: Patient & Family Support, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Loralee 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, Loralee Foundation generated $2.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 55.1% each year . All expenses for the organization totaled $2.1m during the year ending 12/2022. While expenses have increased by 48.5% per year over the past 7 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 2021, Loralee Foundation has awarded 16 individual grants totaling $1,710,305. 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
THE FOUNDATION OFFERS EQUINE THERAPY AND USE OF THE FOUNDATION PROPERTY AT NO COST FOR PEOPLE AND ORGANIZATIONS THAT PROVIDE CHARITABLE ASSISTANCE IN THE COMMUNITY. THIS INCLUDES DINING HALL, DORMS AND CABINS, RIDING ARENA, PETTING ZOO, BASEBALL FIELD, SOCCER FIELD, SAND VOLLEYBALL, BASKETBALL AND OTHER OUTDOOR FACILITIES.
THE FOUNDATION ALSO OFFERS ASSISTANCE TO INDIVIDUALS AND FAMILIES IN NEED OF BASIC NECESSITIES, FOOD, CLOTHING, SHELTER, AND EDUCATION. THE FOUNDATION SEEKS OUT INDIVIDUALS WHO HAVE SUFFERED FROM DISASTER OR HARDSHIP AND OFFERS FINANCIAL ASSISTANCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James D Spry President | 5 | $0 | |
Shayne Anderson Director | 5 | $0 | |
Melissa Terry Secretary | 2 | $0 | |
Rhonda Zieger Director | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $2,029,079 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $4,417 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $2,033,496 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $41,163 |
| Other employee salaries and wages | $201,256 |
| Pension plans, employee benefits | $12,220 |
| Interest | $0 |
| Taxes | $51,603 |
| Depreciation | $42,590 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $210,468 |
| Total operating and administrative expenses | $559,300 |
| Contributions, gifts, grants paid | $1,519,532 |
| Total expenses and disbursements | $2,078,832 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $18,198 |
| 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 | $0 |
| Net Land, buildings, and equipment | $207,588 |
| Other assets | $0 |
| Total assets | $225,786 |
| 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, Loralee Foundation has awarded $1,519,462 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
AUSTIN ANGELS PURPOSE: TO ASSIST AUSTIN ANGELS IN SUPPORTING FOSTER CHILDREN NEEDS | $1,487,399 |
DAN POIRIER PURPOSE: TO ASSIST WITH DEVELOPMENT OF EATING MACHINE FOR HANDICAPPED INDIVIDUALS | $2,500 |
GUY HODGE PURPOSE: TO PROVIDE AID FOR FINANCIAL HARDSHIP DUE TO UNFORESEEN CIRCUMSTANCES | $15,150 |
VICTIMS OF HURICANE IAN PURPOSE: TO PROVIDE AID FOR VICTIMS OF HURICAN IAN DIRECTLY AFTER THE EVENT | $4,413 |
MAGDELANO GALVIN PURPOSE: TO PROVIDE AID FOR FINANCIAL HARDSHIP DUE TO UNFORESEEN CIRCUMSTANCES | $10,000 |