Lou-Von Family Foundation is located in Sumter, SC. The organization was established in 2014. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lou-Von Family 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, Lou-Von Family Foundation generated $346.3k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 44.6% each year . All expenses for the organization totaled $438.0k during the year ending 12/2022. While expenses have increased by 23.3% per year over the past 8 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
IS TO ENCOURAGE, SUPPORT AND CONDUCT PROGRAMS AND ACTIVITIES THAT OPEN OPPORTUNITIES AND CREATE PATHWAYS TO IMPROVED QUALITY OF LIFE FOR INDIVIDUALS AND FAMILIES THAT HAVE NOT BEEN ABLE TO FULLY BENEFIT FROM THE AMERICAN DREAM
Describe the Organization's Program Activity:
Part 3 - Line 4a
BEAUTIFUL POSSIBILITIES SCHOLARSHIP INITIATIVE AT MORRIS COLLEGE IN SUMTER SCTHE BEAUTIFUL POSSIBILITIES SCHOLARSHIP INITIATIVE AT MORRIS COLLEGE IS A PRIVATELY FUNDED SCHOLARSHIP AWARD PROGRAM AIMED AT SUPPORTING UNDERREPRESENTED STUDENTS WHO STRIVE FOR A COLLEGE EDUCATION BUT DONT HAVE THE FINANCIAL MEANS BY WHICH TO ATTEND. THE NUMBER OF STUDENTS FROM MINORITY BACKGROUNDS THAT HAVE THE DESIRE AND ACADEMIC STANDING, HAS MORE THAN TRIPLED IN THE STATE OF SOUTH CAROLINA. THESE STUDENTS ARE MORE TIMES THAN NOT, THE FIRST PERSON IN THEIR FAMILIES THAT HAVE PERFORMED AT AN ACADEMIC LEVEL THAT SHOULD ENSURE THEIR COLLEGE ATTENDANCE. HOWEVER, LACK OF FUNDS AND LITTLE OR NO FINANCIAL RESOURCES CAN ACT AS A DETERRENT TO STUDENTS SEEKING TO BETTER THEMSELVES THROUGH HIGHER EDUCATION. BY OFFERING THESE STUDENTS A FULL SCHOLARSHIP WHICH UNDERWRITES THEIR TUITION, ROOM AND BOARD, BOOKS AND MEALS IS A DREAM COME TRUE FOR STUDENTS WHO, AT ONE TIME, THOUGHT THE ONLY OPTI THE BEAUTIFUL POSSIBILITIES SCHOLARSHIP SERVES AS A SPRING BOARD FOR OUR COUNTRYS YOUTH TO BETTER EDUCATE THEMSELVES AS THEY EXPLORE THE OPPORTUNITIES THAT THEY ONCE FELT WAS THERE FOR SOMEONE ELSE. THE PROGRAM AIMS TO EDUCATE STUDENTS FROM DIVERSE BACKGROUNDS WHOSE FAMILY HERITAGE ARRIVED IN THIS COUNTRY THROUGH OPPORTUNITIES AIMED AT FRESH STARTS, SECOND CHANCES AND FORCED RELOCATIONS. THE SCHOLARSHIP IS NOT MEANT TO BE A HAND OUT OR A BANDAGE TO AN ONGOING PROBLEM. IT IS AN OPPORTUNITY TO UNLOCK THE DOOR TO HIDDEN OPPORTUNITIES THAT GENERATIONS BEFORE COULDNT IMAGINE FOR THEMSELVES BUY PRAYED AND WORKED FOR THE DAY WHEN FUTURE GENERATIONS WOULD BE RECOGNIZED FOR THEIR INTELLECT AND DRIVE.
THE LOUVON FAMILY FOUNDATION ADDRESSES THE QUALITY OF LIFE FOR THE UNDERPRIVILEGED MEMBERS OF THE COMMUNITY AS A WHOLE WITH SPECIFIC ATTENTION DEDICATED TO OUR SENIOR CITIZENS. IN ADDITION TO FINANCIAL SUPPORT PROVIDED TO PERSONS IN NEED OF MEDICAL ATTENTION , PHARMACY NEEDS, HEATING AND AIR CONDITIONING, CLOTHING AND ASSISTANCE WITH HOUSING NEEDS, LOUVON HAS PARTNERED WITH LOCAL GROUPS AND ORGANIZATIONS WHOSE MISSION IS SAME OR SIMILAR BUT HAVE MORE FINANCIAL MEANS THAN WE HAVE FOR PROJECTS THAT NEED ADDITIONAL FINANCING. ADDITIONALLY, WE ARE STRENGTHENING OUR PARTNERSHIPS WITH THE MENTAL HEALTH COMMUNITY AS WELL AS OTHER RESOURCES THAT CAN OFFER MORE CONCENTRATED SUPPORT TO INCLUDE LICENSED PRACTITIONERS IN HEALTH FIELDS. WE ARE EXPERIENCING AN INCREASE IN REQUESTS FOR SUPPORT AND ASSISTANCE IN AREAS SUCH AS DEPRESSION, JUVENILE MENTAL HEALTH, HOMELESSNESS AND CARE FOR MENTALLY CHALLENGED YOUTH. THESE REQUEST CAN RANGE FROM OFFICE VISITS TO DAYCARE AN
COATS FOR KIDS IS A PROGRAM GIVES BRAND NEW COATS TO CHILDREN IN THE SUMTER COMMUNITY AND THE OUTLYING COUNTIES.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Lc Fredrick Treasurer | Officer | 5 | $0 |
Anderson Thomas Secretary | Officer | 2 | $0 |
Leroy Staggers Curriculum Advisor | Officer | 2 | $0 |
Erin J Wilsonjames Vice Boardpresident | Officer | 10 | $0 |
James V Wilson Sr Board Chair | Officer | 10 | $0 |
Shelia J Bradshaw Board Member | Officer | 2 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $339,837 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $339,837 |
Total Program Service Revenue | $0 |
Investment income | $0 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $6,450 |
Net Gain/Loss on Asset Sales | $0 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $346,287 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $415,282 |
Grants and other assistance to domestic individuals. | $0 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $0 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $0 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $0 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $0 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $0 |
Office expenses | $2,985 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $0 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $6,593 |
Insurance | $1,478 |
All other expenses | $0 |
Total functional expenses | $437,970 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $91,559 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $10,977 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $30,037 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $0 |
Net Land, buildings, and equipment | $405,526 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $538,099 |
Accounts payable and accrued expenses | $0 |
Grants payable | $0 |
Deferred revenue | $0 |
Tax-exempt bond liabilities | $0 |
Escrow or custodial account liability | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $0 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $0 |
Total liabilities | $0 |
Net assets without donor restrictions | $538,099 |
Net assets with donor restrictions | $0 |
Capital stock or trust principal, or current funds | $0 |
Paid-in or capital surplus, or land, building, or equipment fund | $0 |
Retained earnings, endowment, accumulated income, or other funds | $0 |
Total liabilities and net assets/fund balances | $538,099 |