Lenfest Scholars Foundation Inc
- Assets
- $51.0m
- Revenue
- $2.0m
- Investments
- $49.4m
- Employees
- 0
- Location
- Wayne, PA
- Founding
- 02/2015
- Data as of
- 06/2022
- EIN
- 47-1810540
Organization Overview
Lenfest Scholars Foundation Inc is located in Wayne, PA. The organization was established in 2015. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lenfest Scholars 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 06/2022, Lenfest Scholars Foundation Inc generated $2.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (17.9%) each year. All expenses for the organization totaled $2.8m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Lenfest Scholars Foundation Inc has awarded 24 individual grants totaling $7,487,679. 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 IS A PRIVATE NON-OPERATING FOUNDATION, AND AS SUCH, ITS PRIMARY ACTIVITIES ARE 1) TO AWARD EDUCATIONAL SCHOLARSHIPS TO QUALIFYING STUDENTS AND 2) TO MAKE GRANTS OR CONTRIBUTIONS TO OTHER 501(C)(3) ORGANIZATIONS, PRINCIPALLY TO PUBLIC CHARITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph F Huber Board Chair And Director | 2 | $0 | |
Roger Lehecka Board Vice-Chair | 2 | $0 | |
Diane L Myer Treasurer | 2 | $0 | |
Jessica Macleod Secretary | 40 | $78,070 | |
Martha Denney Executive Director | 40 | $235,597 | |
Erin E Crum Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $1,076,061 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $761,990 |
| Capital Gain Net Income | $757,150 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $172,435 |
| Total Revenue | $2,010,486 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $325,239 |
| Other employee salaries and wages | $201,156 |
| Pension plans, employee benefits | $21,386 |
| Interest | $0 |
| Taxes | $39,853 |
| Depreciation | $6,710 |
| Occupancy | $32,858 |
| Travel, conferences, and meetings | $9,146 |
| Printing and publications | $0 |
| Other expenses | $134,900 |
| Total operating and administrative expenses | $1,130,218 |
| Contributions, gifts, grants paid | $1,688,966 |
| Total expenses and disbursements | $2,819,184 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $656,194 |
| Savings and temporary cash investments | $869,391 |
| 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 | $12,254 |
| Net Investments - land, buildings, equipment | $53,143 |
| Investments—mortgage loans | $0 |
| Investments—other | $33,579,645 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $50,975,682 |
| Accounts payable and accrued expenses | $217,046 |
| Grants payable | $3,139,179 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $147,300 |
| Total liabilities | $3,503,525 |
Grants Awarded
Over the last fiscal year, Lenfest Scholars Foundation Inc has awarded $1,633,354 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
SCHEDULE OF SCHOLARSHIP RECIPIENTS PURPOSE: LENFEST SCHOLARSHIP PROGRAM | $1,384,491 |
SCHEDULE OF SPECIAL EDUCATION EXPEN PURPOSE: LENFEST SCHOLARSHIP PROGRAM | $71,863 |
SCHEDULE OF FINALIST GRANTS - INFOR PURPOSE: LENFEST SCHOLARSHIP PROGRAM | $87,000 |
FIDELITY CHARITABLE GIFT FUND PURPOSE: DAF CONTRIBUTIONS | $60,000 |
VANGUARD CHARITABLE FUND PURPOSE: DAF CONTRIBUTIONS | $20,000 |
PHILADELPHIA FOUNDATION PURPOSE: DAF CONTRIBUTIONS | $10,000 |