Lela D Jackson Foundation For The Arts
- Assets
- $8.1m
- Revenue
- $703.8k
- Investments
- $2.4m
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 06/2013
- Data as of
- 12/2023
- EIN
- 45-6204531
Organization Overview
Lela D Jackson Foundation For The Arts is located in Chicago, IL. The organization was established in 2013. According to its NTEE Classification (A12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lela D Jackson Foundation For The Arts 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, Lela D Jackson Foundation For The Arts generated $703.8k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 11.8% each year . All expenses for the organization totaled $544.2k during the year ending 12/2023. While expenses have increased by 1.9% per year over the past 6 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 2018, Lela D Jackson Foundation For The Arts has awarded 30 individual grants totaling $2,292,989. 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 |
|---|---|---|---|
Shirley Irons Faist Co-Trustee | 1 | $75,029 | |
Bmo Bank N A Co-Trustee | 1 | $75,030 | |
Shirley Irons Faist Co-Trustee | 1 | $75,029 | |
Bmo Bank N A Co-Trustee | 1 | $75,030 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $200,605 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $502,143 |
| Capital Gain Net Income | $502,143 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,079 |
| Total Revenue | $703,827 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $150,059 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $14,104 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $75 |
| Total operating and administrative expenses | $169,227 |
| Contributions, gifts, grants paid | $375,000 |
| Total expenses and disbursements | $544,227 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $331,050 |
| 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 | $150,000 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $5,334,554 |
| Total assets | $8,092,054 |
| 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, Lela D Jackson Foundation For The Arts has awarded $754,989 in support to 13 organizations.
| Grant Recipient | Amount |
|---|---|
COMMUNITY FDN OF SARASOTA CTY PURPOSE: L JACKSON SCHOLARSHIP FD | $250,000 |
RINGLING COLLEGE OF ART & DESIGN PURPOSE: LELA JACKSON SCHOLARSHIP | $20,000 |
FLORIDA WEST COAST SYMPHONY INC PURPOSE: PROGRAM SUPPORT | $20,000 |
GUNSTER PURPOSE: PROGRAM SUPPORT | $4,989 |
SARASOTA MILITARY ACADEMY FOUNDATION PURPOSE: PROGRAM SUPPORT | $20,000 |
VISIBLE MEN ACADEMY PURPOSE: PROGRAM SUPPORT | $30,000 |