Lacy Foundation
- Assets
- $2.1m
- Revenue
- $28.0k
- Investments
- $2.0m
- Employees
- 0
- Location
- Martinsville, VA
- Founding
- 05/1981
- Data as of
- 08/2023
- EIN
- 52-1205924
Organization Overview
Lacy Foundation is located in Martinsville, VA. The organization was established in 1981. 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. Lacy 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 08/2023, Lacy Foundation generated $28.0k 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 (31.1%) each year. All expenses for the organization totaled $150.5k during the year ending 08/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Lacy Foundation has awarded 41 individual grants totaling $625,300. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frank Lacy Jr President | 0.2 | $0 | |
Richard W Critz Secretary | 0.2 | $0 | |
Edward S Lacy Director | 0.05 | $0 | |
Brent M Lacy Director | 0.05 | $0 | |
Frank M James III Treasurer | 0.2 | $0 | |
Lacy James Director | 0.05 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $52,990 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$25,023 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $27,967 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $7,743 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $111 |
| Total operating and administrative expenses | $29,463 |
| Contributions, gifts, grants paid | $121,000 |
| Total expenses and disbursements | $150,463 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $103,888 |
| 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 | $2,010,761 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $2,114,649 |
| 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, Lacy Foundation has awarded $121,000 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
BOYS & GIRLS CLUB OF THE BLUE RIDGE PURPOSE: TO PROVIDE ASSISTANCE TO NEEDY STUDENTS | $20,000 |
BREAKTHROUGH MANCHESTER PURPOSE: STUDENTS TEACHING STUDENTS PROGRAM DESIGNED TO CLOSE THE EDUCATIONAL OPPORTUNITY GAP | $21,000 |
EXPERIMENT IN SELF-RELIANCE PURPOSE: CAPITAL CAMPAIGN TO BUILD FACILITY TO HOUSE PROGRAMS-HELPING STRUGGLING FAMILIES TO HELP THEMSELVES | $15,000 |
FAMILY YMCA BUILDING A HEALTHY COMMUNITY PURPOSE: TO PROVIDE ASSISTANCE FOR SCHOLARSHIPS FOR NEEDY CHILDREN | $10,000 |
GRACE NETWORK OF MARTINSVILLEHENRY COUNTY PURPOSE: HELPING STRUGGLING FAMILIES TO MEET VARIOUS NEEDS | $20,000 |
SAFETYNET INC PURPOSE: TO PROVIDE ASSISTANCE TO NEEDY FAMILIES WHO MAY NOT QUALIFY FOR OTHER ASSISTANCE | $10,000 |