Loats Foundation Inc
- Assets
- $4.2m
- Revenue
- $77.1k
- Investments
- $4.2m
- Employees
- 0
- Location
- Frederick, MD
- Founding
- 03/1950
- Data as of
- 05/2024
- EIN
- 52-0610535
Organization Overview
Loats Foundation Inc is located in Frederick, MD. The organization was established in 1950. 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. Loats 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 05/2024, Loats Foundation Inc generated $77.1k in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (2.9%) each year. All expenses for the organization totaled $230.7k during the year ending 05/2024. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Loats Foundation Inc has awarded 72 individual grants totaling $998,000. 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 LOATS FOUNDATION MAKES CONTRIBUTIONS TO VARIOUS NON- PROFIT ORGANIZATIONS AND CONTRIBUTES SCHOLARSHIP FUNDS TO COLLEGE AND UNIVERSITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rev Dr Paul Baglyos President | 0 | $0 | |
Marsha Hahn Secretary | 0 | $0 | |
C Richard Miller Jr Treasurer | 0 | $0 | |
Barbara Brittain Vice Preside | 0 | $0 | |
Joanne Baum Director | 0 | $0 | |
Lorraine M B Prete Resident Age | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $300 |
| Interest on Savings | $26,150 |
| Dividends & Interest | $158,518 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$107,934 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $41 |
| Total Revenue | $77,075 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $5,207 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,654 |
| Total operating and administrative expenses | $30,676 |
| Contributions, gifts, grants paid | $200,000 |
| Total expenses and disbursements | $230,676 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $20,097 |
| 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 | $4,214,177 |
| 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, Loats Foundation Inc has awarded $200,000 in support to 16 organizations.
| Grant Recipient | Amount |
|---|---|
CARROLL COMMUNITY COLLEGE PURPOSE: PROVIDE SCHOLARSHIP FUNDING | $8,000 |
FREDERICK COMM COLLEGE FNDN INC PURPOSE: PROVIDE SCHOLARSHIPS & SUPPORT ORG | $60,000 |
FROSTBURG STATE UNIVERSITY FNDN INC PURPOSE: PROVIDE SCHOLARSHIP FUNDING | $20,000 |
HEARTLY HOUSE INC PURPOSE: SUPPORT ACTIVITIES & MISSION OF ORG | $5,000 |
HOOD COLLEGE PURPOSE: PROVIDE SCHOLARSHIP FUNDING | $21,000 |
MCDANIEL COLLEGE PURPOSE: PROVIDE SCHOLARSHIP FUNDING | $13,000 |