London Town Foundation Inc
- Assets
- $1.7m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 25
- Location
- Edgewater, MD
- Founding
- 11/1985
- Data as of
- 12/2023
- EIN
- 52-1396159
Organization Overview
London Town Foundation Inc is located in Edgewater, MD. The organization was established in 1985. According to its NTEE Classification (A11) the organization is classified as: Single Organization Support, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2023, London Town Foundation Inc employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. London Town 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 12/2023, London Town Foundation Inc generated $1.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.5% each year. All expenses for the organization totaled $1.5m during the year ending 12/2023. While expenses have increased by 8.5% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT THE PRESERVATION, RECONSTRUCTION AND OPERATION OF LONDON TOWN AND TO PROVIDE EDUCATION ABOUT COLONIAL MARYLAND
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXPENSES INCURRED TO PROVIDE HISTORICAL EDUCATION, SPECIAL EVENTS AND THE RECONSTRUCTION AND PRESERVATION OF THE WILLIAM BROWN HOUSE, GARDENS AND SURROUNDING VILLAGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mickey Love Executive Director | Officer | 40 | $83,445 |
Bob Leib Trustee | OfficerTrustee | 5 | $0 |
Laura Martien Chair | OfficerTrustee | 5 | $0 |
Rick Moreland Treasurer | OfficerTrustee | 5 | $0 |
Jeneanne Hunter Vice Chair | OfficerTrustee | 5 | $0 |
Anne Biddle Secretary | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $335,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $333,840 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $668,840 |
| Total Program Service Revenue | $116,643 |
| Investment income | $30,576 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $519,038 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$2,719 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,335,996 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $88,412 |
| Compensation of current officers, directors, key employees. | $16,898 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $707,115 |
| Pension plan accruals and contributions | $9,430 |
| Other employee benefits | $25,587 |
| Payroll taxes | $61,344 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $17,675 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $44,525 |
| Advertising and promotion | $3,980 |
| Office expenses | $25,038 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $83,952 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,291 |
| Interest | $2,943 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $67,620 |
| Insurance | $36,277 |
| All other expenses | $0 |
| Total functional expenses | $1,503,095 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $49,501 |
| Savings and temporary cash investments | $868,352 |
| Pledges and grants receivable | $5,451 |
| Accounts receivable, net | $306 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,020 |
| Prepaid expenses and deferred charges | $78,185 |
| Net Land, buildings, and equipment | $343,154 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $309,215 |
| Total assets | $1,657,184 |
| Accounts payable and accrued expenses | $59,420 |
| Grants payable | $0 |
| Deferred revenue | $307,894 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $118,662 |
| Other liabilities | $142,821 |
| Total liabilities | $628,797 |
| Net assets without donor restrictions | $645,972 |
| Net assets with donor restrictions | $382,415 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,657,184 |