Lowell Observatory Foundation
- Assets
- $10.9m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Flagstaff, AZ
- Founding
- 04/2015
- Data as of
- 12/2021
- EIN
- 47-2052113
Organization Overview
Lowell Observatory Foundation is located in Flagstaff, AZ. The organization was established in 2015. According to its NTEE Classification (U11) the organization is classified as: Single Organization Support, under the broad grouping of Science & Technology and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lowell Observatory 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 12/2021, Lowell Observatory Foundation generated $1.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (10.2%) each year. All expenses for the organization totaled $668.0k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO SUSTAIN AND ENHANCE LOWELL OBSERVATORY'S MISSION BY GENERATING PERPETUAL FINANCIAL SUPPORT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE LOWELL OBSERVATORY FOUNDATION (LOF) ACCEPTS GIFTS FOR ENDOWED FUNDS AND MANAGES THE FUNDS FOR THE SUPPORT OF THE OBSERVATORY'S GENERAL OPERATIONS AND THE GROWTH OF THE ENDOWED FUNDS. BECAUSE OF SEVERAL SIGNIFICANT GIFTS, INCLUDING $300,000 FOR THE GODO ENDOWMENT FUND AND $440,000 TO CREATE THE ROBERT M. AYERS EDUCATION FUND, COMBINED WITH A ROBUST STOCK MARKET, THE ENDOWMENTS ENDED 2021 WITH MORE THAN $10 MILLION IN ASSETS, A VERY IMPORTANT MILESTONE FOR THE ORGANIZATION'S FUTURE GROWTH GOAL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Radway Board Vice-Chair Thru Feb 2021 | OfficerTrustee | 2 | $0 |
George Putnam III Board Vice-Chair As Of March 2021 | OfficerTrustee | 2 | $0 |
Donna Weistrop Board Chair | OfficerTrustee | 2 | $0 |
Ann T Actor Executive Director | Officer | 2 | $0 |
Anne Labruzzo Chief Financial Officer | Officer | 2 | $0 |
W Lowell Putnam Trustee | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $539,611 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $103,363 |
| Noncash contributions included in lines 1a–1f | $10,196 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $642,974 |
| Total Program Service Revenue | $0 |
| Investment income | $172,317 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $258,602 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,073,893 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $354,895 |
| 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 | $7,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $51,855 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $57 |
| 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 | $0 |
| Insurance | $2,669 |
| All other expenses | $0 |
| Total functional expenses | $667,968 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $117,284 |
| Savings and temporary cash investments | $1,155,007 |
| Pledges and grants receivable | $99,189 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $9,507,269 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $10,878,749 |
| 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 | $35,790 |
| Total liabilities | $35,790 |
| Net assets without donor restrictions | $2,341,587 |
| Net assets with donor restrictions | $8,501,372 |
| 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 | $10,878,749 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Lowell Observatory Foundation has recieved totaling $539,779.
| Awarding Organization | Amount |
|---|---|
Lowell Observatory Flagstaff, AZ PURPOSE: TO FUND AN ENDOWMENT | $539,611 |
Tender Blessings Foundation Lakewood Ranch, FL PURPOSE: OBSERVATORY | $150 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $18 |
Endowment Analysis
| Beg. Balance | $8,732,599 |
| Earnings | $1,221,110 |
| Admin Expense | $51,855 |
| Net Contributions | $866,064 |
| Grants | $259,809 |
| Ending Balance | $10,508,109 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Public Technical Identifiers Los Angeles, CA | $273,028 | $7,444,323 |
New Mexico Tech Foundation Socorro, NM | $38,498,574 | $2,517,298 |
Sunwork Renewable Energy Projects Milpitas, CA | $728,859 | $1,870,017 |
Lowell Observatory Foundation Flagstaff, AZ | $10,878,749 | $1,073,893 |
Watson Caring Science Institute Boulder, CO | $339,933 | $730,953 |
California Water Data Consortium Sacramento, CA | $860,347 | $369,847 |
Gates Biomanufacturing Facility Support Foundation Aurora, CO | $1,778,251 | $750,281 |
Annual Reviews Investment Corporation San Mateo, CA | $129,739,149 | $41,901,443 |
Rocky Mountain Institute International Boulder, CO | -$8,006 | $9,098 |
Academy Of Science And Engineering Las Vegas, NV | $203,617 | $0 |
W Foundation Novato, CA | $619,136 | $28,301 |
Benners A Fbo Zoologic Soc 4947 Tr Uw 1513083626 Las Vegas, NV | $565,320 | $58,092 |