The Lucyle S Love Foundation
- Assets
- $1.6m
- Revenue
- $144.2k
- Investments
- $1.5m
- Employees
- 0
- Location
- Simpsonville, SC
- Founding
- 01/1990
- Data as of
- 12/2023
- EIN
- 57-0902382
Organization Overview
The Lucyle S Love Foundation is located in Simpsonville, SC. The organization was established in 1990. 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. Lucyle S Love 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, Lucyle S Love Foundation generated $144.2k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 16.8% each year . All expenses for the organization totaled $137.3k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Lucyle S Love Foundation has awarded 72 individual grants totaling $345,499. 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 |
|---|---|---|---|
Don R Mcalister Trustee | 2 | $20,000 | |
David Vickery Trustee | 2 | $20,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $63,680 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $80,516 |
| Capital Gain Net Income | $80,516 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $144,196 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $40,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $522 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $15,465 |
| Total operating and administrative expenses | $60,987 |
| Contributions, gifts, grants paid | $76,350 |
| Total expenses and disbursements | $137,337 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $87,528 |
| 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 | $103,200 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,553,166 |
| 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, The Lucyle S Love Foundation has awarded $76,350 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
CLEMSON UNIVERSITY PURPOSE: SCHOLARSHIP | $6,000 |
ELEOS MINISTRY PURPOSE: TO FURTHER EXEMPT PROGRAMS | $3,000 |
GRAND CANYON UNIVERSITY PURPOSE: SCHOLARSHIP | $9,000 |
GREENVILLE CHORALE PURPOSE: TO FURTHER EXEMPT PURPOSE | $13,350 |
GREENVILLE ARP CHURCH PURPOSE: TO FURTHER EXEMPT PROGRAMS | $7,000 |
GREENVILLE TEXTILE HERITAGE PURPOSE: TO FURTHER EXEMPT PROGRAMS | $10,000 |