Gay And Erskine Love Foundation Inc
- Assets
- $6.9k
- Revenue
- $750.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Atlanta, GA
- Founding
- 08/1976
- Data as of
- 12/2021
- EIN
- 51-0198585
Organization Overview
Gay And Erskine Love Foundation Inc is located in Atlanta, GA. The organization was established in 1976. 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. Gay And Erskine Love 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 12/2021, Gay And Erskine Love Foundation Inc generated $750.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (7.4%) each year. All expenses for the organization totaled $743.3k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (15.5%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Gay And Erskine Love Foundation Inc has awarded 62 individual grants totaling $1,568,428. 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
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOUNDATION DOES NOT ENGAGE IN DIRECT CHARITABLE ACTIVITIES WITHIN THE MEANING OF SECTION 4942J3 AND RELATED REGULATIONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dennis Love President | 0 | $0 | |
Dellmer B Seitter Secretary | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $750,000 |
| Interest on Savings | $0 |
| 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 | $406 |
| Total Revenue | $750,406 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $0 |
| Contributions, gifts, grants paid | $743,256 |
| Total expenses and disbursements | $743,256 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,937 |
| 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 | $6,937 |
| 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, Gay And Erskine Love Foundation Inc has awarded $743,256 in support to 32 organizations.
| Grant Recipient | Amount |
|---|---|
Richmond, VA PURPOSE: TO PROVIDE A RIGOROUS EDUCATION THAT PREPARES GIRLS WITH DIVERSE PERSPECTIVES FOR A LIFETIME OF LEARNING LEADERSHIP AND SERVICE. | $200,000 |
UNITED WAY OF METRO ATLANTA PURPOSE: BRING TOGETHER PEOPLE AND RESOURCES TO TACKLE COMPLEX COMMUNITY ISSUES AND DRIVE SUSTAINABLE POSITIVE CHANGE TO HELP OUR COMMUNITY THRIVE. | $72,760 |
ATLANTA MISSION PURPOSE: TRANSFORMS THROUGH CHRIST THE LIVES OF THOSE FACING HOMELESSNESS | $50,000 |
Richmond, VA PURPOSE: EQUIPS CHRISTIAN LEADERS FOR MINISTRY IN THE WORLD | $50,000 |
Atlanta, GA PURPOSE: PAYMENT OF DONATION TO DEVELOP IN STUDENTS A LOVE OF LEARNING RESPECT FOR SELF AND OTHERS FAITH IN GOD AND A SENSE OF SERVICE TO THE WORLD COMMUNITY. | $50,000 |
PHOENIX BOYS ASSOCIATION PURPOSE: PAYMENT OF DONATION TO SUPPORT PBA'S MISSION OF SERVING BOYS WHO LIVE IN PUBLIC AND SUBSIDIZED HOUSING IN ATLANTA GEORGIA. | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Trousdale Foundation Inc Cleveland, TN | $157,578,588 | $76,137,385 |
The United Methodist Retirement Homes Inc Durham, NC | $351,992,425 | $85,120,969 |
The Murray & Sydell Rosenberg Foundation Inc Atlanta, GA | $5,561,714 | $74,985,544 |
Joseph B Whitehead Foundation Atlanta, GA | $148,285,590 | $58,163,845 |
Emergency Assistance Foundation Inc West Palm Beach, FL | $75,784,415 | $87,494,207 |
Winshape Foundation Inc Atlanta, GA | $1,733,664,901 | $22,099,572 |
A Good Name Foundation Inc Atlanta, GA | $709,299,721 | $33,917,740 |
Jane Woodruff Foundation Inc Atlanta, GA | $0 | $54,999,988 |
Truist Foundation Inc Orlando, FL | $535,253,915 | $119,578,224 |
Ups Foundation Inc Atlanta, GA | $8,317,427 | $54,799,163 |
Leslie L Alexander Foundation Delray Beach, FL | $372,501,228 | $8,282,313 |
Dogwood Health Trust Asheville, NC | $1,386,374,836 | $630,200,598 |