L B Lane Family Foundation Inc
- Assets
- $738.7k
- Revenue
- $46.9k
- Investments
- $590.0k
- Employees
- 0
- Location
- Hickory, NC
- Founding
- 01/1989
- Data as of
- 12/2022
- EIN
- 56-1622837
Organization Overview
L B Lane Family Foundation Inc is located in Hickory, NC. The organization was established in 1989. 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. L B Lane Family 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 12/2022, L B Lane Family Foundation Inc generated $46.9k 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 (19.5%) each year. All expenses for the organization totaled $146.9k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, L B Lane Family Foundation Inc has awarded 118 individual grants totaling $462,200. 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 |
|---|---|---|---|
Landon B Lane Jr Pres/treas | 4 | $0 | |
Constance N Lane Vice Pres | 2 | $0 | |
Nila P Lane Secretary | 0.1 | $0 | |
David Cameron Asst Treas | 0.1 | $0 | |
Amanda P Stanfield Asst Sec | 0.05 | $0 | |
Steve Hostetler Asst Treas | 0.05 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $853 |
| Dividends & Interest | $53,012 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$7,013 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $46,852 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $394 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $990 |
| Printing and publications | $795 |
| Other expenses | $10 |
| Total operating and administrative expenses | $6,889 |
| Contributions, gifts, grants paid | $140,000 |
| Total expenses and disbursements | $146,889 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $18,620 |
| Savings and temporary cash investments | $130,000 |
| 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 | $738,650 |
| 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, L B Lane Family Foundation Inc has awarded $201,000 in support to 45 organizations.
| Grant Recipient | Amount |
|---|---|
CATAWBA COUNTY COUNCIL OF THE ARTS PURPOSE: GENERAL OPERATING FUND | $1,000 |
ALTAVISTA AREA YMCA PURPOSE: GENERAL OPERATING FUND | $1,000 |
APPALACHIAN STATE UNIVERSITY FOUNDATION PURPOSE: FURNITURE DESIGN PROGRAM | $2,000 |
CHILDRENS' HOME SOCIETY OF NC PURPOSE: GENERAL OPERATING FUND | $2,500 |
CATAWBA SCIENCE CENTER PURPOSE: SCHOLARSHIP FUND | $7,000 |
CORNERSTONE COUNSELING CENTER PURPOSE: SCHOLARSHIP FUND | $1,000 |