Patrick P Lee Foundation Inc
- Assets
- $41.8m
- Revenue
- $3.0m
- Investments
- $41.4m
- Employees
- 0
- Location
- Williamsville, NY
- Founding
- 10/2018
- Data as of
- 12/2023
- EIN
- 45-3845576
Organization Overview
Patrick P Lee Foundation Inc is located in Williamsville, NY. The organization was established in 2018. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Patrick P Lee 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 12/2023, Patrick P Lee Foundation Inc generated $3.0m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 24.8% each year . All expenses for the organization totaled $3.8m during the year ending 12/2023. While expenses have increased by 8.7% per year over the past 9 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 2014, Patrick P Lee Foundation Inc has awarded 412 individual grants totaling $23,293,321. 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 |
|---|---|---|---|
Patrick P Lee Chairman | 5 | $0 | |
Jane Mogavero Executive Director | 40 | $157,805 | |
Lee Wortham Vice Chairman | 2 | $0 | |
Barbara Rhee Secretary | 2 | $0 | |
John Rhee Director | 2 | $0 | |
Michele Lee Director | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $800,000 |
| Interest on Savings | $196,740 |
| Dividends & Interest | $650,385 |
| Net Rental Income | -$70,426 |
| Net Gain on Sale of Assets | $281,600 |
| Capital Gain Net Income | $281,600 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,103,627 |
| Total Revenue | $3,032,352 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $157,805 |
| Other employee salaries and wages | $146,369 |
| Pension plans, employee benefits | $35,929 |
| Interest | $49,739 |
| Taxes | $95,784 |
| Depreciation | $13,677 |
| Occupancy | $32,940 |
| Travel, conferences, and meetings | $24,033 |
| Printing and publications | $0 |
| Other expenses | $119,349 |
| Total operating and administrative expenses | $1,425,492 |
| Contributions, gifts, grants paid | $2,378,179 |
| Total expenses and disbursements | $3,803,671 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $390,061 |
| 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 | $41,371,466 |
| Net Land, buildings, and equipment | $16,560 |
| Other assets | $0 |
| Total assets | $41,778,087 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $722,596 |
| 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 | $722,596 |
Grants Awarded
Over the last fiscal year, Patrick P Lee Foundation Inc has awarded $2,777,410 in support to 59 organizations.
| Grant Recipient | Amount |
|---|---|
ACCESSIBLE ACADEMICS PURPOSE: HONORARIUM ROBERT LETESTE | $250 |
ALFRED STATE COLLEGE DEVELOPMENT FUND PURPOSE: STEM SCHOLARSHIP PROGRAM | $12,000 |
ALFRED STATE COLLEGE DEVELOPMENT FUND PURPOSE: STEM SCHOLARSHIP PROGRAM | $12,000 |
BESTSELF BEHAVIORAL HEALTH PURPOSE: CLINICAL INTERNSHIP | $148,342 |
BESTSELF BEHAVIORAL HEALTH PURPOSE: CLINICAL INTERNSHIP | $1,658 |
CANISIUS COLLEGE PURPOSE: MENTAL HEALTH SCHOLARSHIP PROGRAM | $25,000 |