Mimi And Paul Lee Foundation
- Assets
- $502.9k
- Revenue
- $63.0k
- Investments
- $444.9k
- Employees
- 0
- Location
- Brooklyn, NY
- Founding
- 02/2015
- Data as of
- 06/2024
- EIN
- 47-6391735
Organization Overview
Mimi And Paul Lee Foundation is located in Brooklyn, NY. The organization was established in 2015. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Mimi And Paul Lee 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 06/2024, Mimi And Paul Lee Foundation generated $63.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (7.7%) each year. All expenses for the organization totaled $45.8k during the year ending 06/2024. As we would expect to see with falling revenues, expenses have declined by (0.8%) per year over the past 9 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Mimi And Paul Lee Foundation has awarded 90 individual grants totaling $558,800. 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
2024
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION MADE CONTRIBUTIONSAS A PRIVATE FOUNDATIONTO DESERVING ORGTHAT ARE EXCLUSIVELY ORGANIZED & AUTHORIZED TO CONDUCT CHARITABLERELIGIOUS & EDUCATION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mimi Lee President | 1 | $0 | |
Paul Lee Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $50,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $6,107 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $6,924 |
| Capital Gain Net Income | $6,924 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $63,031 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $293 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $8,803 |
| Total operating and administrative expenses | $10,596 |
| Contributions, gifts, grants paid | $35,200 |
| Total expenses and disbursements | $45,796 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $57,984 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $502,921 |
| 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, Mimi And Paul Lee Foundation has awarded $35,200 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
COLAB THEATER GROUP PURPOSE: PROVIDING INDIVIDUALS WITH DEVELOPMENTAL DISABILIT | $3,000 |
NEW YORK CHRISTIAN MISSION CHURCH PURPOSE: FOR SUPPORT OF LOCAL COMMUNITY | $30,000 |
GOOD JOB ENGELS INC PURPOSE: FOR SUPPORT OF LOCAL COMMUNITY | $200 |
WOMEN OF WONDER WOW INC PURPOSE: FOR SUPPORT OF LOCAL COMMUNITY | $1,000 |
ROLLING THUNDER SPECIAL NEEDS PROGR PURPOSE: FOR SUPPORT OF LOCAL COMMUNITY | $1,000 |