Carol And Gene Ludwig Family Foundation
- Assets
- $115.0m
- Revenue
- $9.0m
- Investments
- $68.4m
- Employees
- 0
- Location
- Washington, DC
- Founding
- 01/2003
- Data as of
- 12/2023
- EIN
- 56-2305290
Organization Overview
Carol And Gene Ludwig Family Foundation is located in Washington, DC. The organization was established in 2003. 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. Carol And Gene Ludwig Family 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 12/2023, Carol And Gene Ludwig Family Foundation generated $9.0m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 19.2% each year . All expenses for the organization totaled $11.9m during the year ending 12/2023. While expenses have increased by 13.7% per year over the past 9 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.
Since 2015, Carol And Gene Ludwig Family Foundation has awarded 863 individual grants totaling $60,208,877. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE LUDWIG INSTITUTE FOR SHARED ECONOMIC PROSPERITY'S MISSION IS TO IMPROVE THE ECONOMIC WELL-BEING OF MIDDLE- AND LOWER-INCOME AMERICANS THROUGH RESEARCH AND EDUCATION.
LISEP STRIVES TO USE ECONOMIC RESEARCH TO BETTER UNDERSTAND ECONOMIC GROWTH AND PROSPERITY AS THEY ARE ACTUALLY EXPERIENCED BY INDIVIDUALS FROM ALL WALKS OF LIFE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carol Ludwig President/secretary/director | 25 | $0 | |
Eugene A Ludwig Vp/treasurer/director | 1 | $0 | |
Robert B Barnett ESQ Director | 0.1 | $0 | |
Matthew Giacomini Vice President (from 8.2.23) | 5 | $0 | |
Catherine Kaplun Exec Director (until 2.15.23) | 20 | $0 | |
Meghan Behnke Edu Program Officer | 40 | $140,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Arnold & Porter Kaye Scholer Llp | 12/30/21 | $210,420 |
Bellwether Education Partners Inc | 12/30/21 | $75,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $7,942 |
| Dividends & Interest | $3,271,546 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $5,763,640 |
| Capital Gain Net Income | $5,763,640 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $9,043,128 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $367,000 |
| Pension plans, employee benefits | $120,693 |
| Interest | $0 |
| Taxes | $43,750 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $11,025 |
| Printing and publications | $0 |
| Other expenses | $63,314 |
| Total operating and administrative expenses | $682,359 |
| Contributions, gifts, grants paid | $11,252,806 |
| Total expenses and disbursements | $11,935,165 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $22,068 |
| Savings and temporary cash investments | $46,586,204 |
| 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 | $13,634,012 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $114,961,194 |
| 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 | $73,217 |
| Total liabilities | $73,217 |
Grants Awarded
Over the last fiscal year, Carol And Gene Ludwig Family Foundation has awarded $11,252,806 in support to 74 organizations.
| Grant Recipient | Amount |
|---|---|
A WIDER CIRCLE INC PURPOSE: GENERAL OPERATING SUPPORT - GENERAL | $20,000 |
ADVOCATES FOR CHILDREN OF NEW YORK PURPOSE: GENERAL OPERATING SUPPORT - GENERAL | $100,000 |
AMERICAN FRIENDS OF NEW COLLEGE PURPOSE: GENERAL OPERATING SUPPORT - GENERAL | $100,000 |
AMERICAN FRIENDS OF THE HEBREW UNIVERSITY PURPOSE: GENERAL OPERATING SUPPORT - GENERAL | $1,500 |
AMERICAN WRITERS MUSEUM FOUNDATION PURPOSE: GENERAL OPERATING SUPPORT - GENERAL | $4,000 |
BEYOND 12 PURPOSE: GENERAL OPERATING SUPPORT - GENERAL | $125,000 |