Lam Family Charitable Foundation
- Assets
- $529.6k
- Revenue
- $56.7k
- Investments
- $503.1k
- Employees
- 0
- Location
- Wilmington, DE
- Founding
- 12/2016
- Data as of
- 12/2021
- EIN
- 47-5627117
Organization Overview
Lam Family Charitable Foundation is located in Wilmington, DE. The organization was established in 2016. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Lam Family Charitable 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, Lam Family Charitable Foundation generated $56.7k 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 (24.5%) each year.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kin Chung Lam Pres, Dir, Treas | 1 | $0 | |
Jeffrey Lam VP | 1 | $0 | |
Raymond Lam Sec | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $6 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $56,646 |
| Total Revenue | $56,652 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $966 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $6,684 |
| Total operating and administrative expenses | $7,650 |
| Contributions, gifts, grants paid | $17,000 |
| Total expenses and disbursements | $24,650 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $26,458 |
| 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 | $503,110 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $529,568 |
| 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, Lam Family Charitable Foundation has awarded $17,000 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
Philadelphia, PA PURPOSE: GENERAL & UNRESTRICTED | $5,000 |
New York, NY PURPOSE: GENERAL & UNRESTRICTED | $5,000 |
Brooklyn, NY PURPOSE: GENERAL & UNRESTRICTED | $3,000 |
CHINATOWN MANPOWER PROJECT INC PURPOSE: GENERAL & UNRESTRICTED | $2,000 |
ABBAS JOY MUSIC MINISTRY INC PURPOSE: GENERAL & UNRESTRICTED | $1,000 |
New York, NY PURPOSE: GENERAL & UNRESTRICTED | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Rita Allen Foundation Princeton, NJ | $219,012,203 | $23,878,841 |
Jacob And Hilda Blaustein Foundation Inc Baltimore, MD | $130,688,531 | $27,779,767 |
Clark-Winchcole Foundation Bethesda, MD | $197,708,650 | $12,024,655 |
Head & Heart Foundation Tr Wilmington, DE | $258,907,072 | $16,871,801 |
The Powder Mill Foundation York, PA | $147,181,195 | $3,651,780 |
Joseph And Marion Wesley Family Foundation Philadelphia, PA | $658,173 | $9,365,078 |
Atlantic Foundation Hamilton, NJ | $71,880,730 | $9,586,711 |
Arete Foundation Philadelphia, PA | $69,704,325 | $5,927,114 |
Hyde And Watson Foundation Warren Township, NJ | $97,089,662 | $14,479,449 |
Horizon Charitable Foundation Inc Newark, NJ | $76,993,498 | $4,728,445 |
Margaret A@darrin Charitable Trust Florham Park, NJ | $119,124,221 | $14,435,367 |
Independence Blue Cross Foundation Philadelphia, PA | $149,853,954 | $24,274,350 |