Dr M Lee Pearce Foundation Inc
- Assets
- $17.7m
- Revenue
- $764.3k
- Investments
- $17.6m
- Employees
- 0
- Location
- Miami Beach, FL
- Founding
- 01/1985
- Data as of
- 12/2021
- EIN
- 59-2424272
Organization Overview
Dr M Lee Pearce Foundation Inc is located in Miami Beach, FL. The organization was established in 1985. 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. Dr M Lee Pearce 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 12/2021, Dr M Lee Pearce Foundation Inc generated $764.3k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 25.8% each year . All expenses for the organization totaled $1.2m during the year ending 12/2021. While expenses have increased by 12.7% per year over the past 7 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 2020, Dr M Lee Pearce Foundation Inc has awarded 16 individual grants totaling $1,281,000. 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
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
NOT APPLICABLE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles Douglas Chairman, President & Director | 6 | $33,000 | |
Robert Potts Vice President & Director | 3 | $13,000 | |
Michael Carpenter Executive Vice President & Director | 3 | $13,000 | |
Yulieth Franco Director | 2 | $8,000 | |
Tatjana Rundek Director | 2 | $8,000 | |
Richard Inglis Secretary & Treasurer | 1 | $2,500 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sidley Austin Llp | 12/30/21 | $143,220 |
Russell Investments | 12/30/21 | $85,748 |
Bilzin Sumberg | 12/30/21 | $60,050 |
General Health Corp | 12/30/21 | $107,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $764,277 |
| Capital Gain Net Income | $764,277 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $764,277 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $82,500 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $944 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $26,002 |
| Total operating and administrative expenses | $575,181 |
| Contributions, gifts, grants paid | $670,500 |
| Total expenses and disbursements | $1,245,681 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $55,754 |
| Savings and temporary cash investments | $18,651 |
| 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 | $19,293 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $17,719,284 |
| 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 | $698,213 |
| Total liabilities | $698,213 |
Grants Awarded
Over the last fiscal year, Dr M Lee Pearce Foundation Inc has awarded $670,500 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
MAYO CLINIC FOUNDATION PURPOSE: ALZHEIMER'S BIOMARKER STUDY | $150,000 |
New York, NY PURPOSE: HD LIVE IN SCHOOLS | $100,000 |
THE CLEVELAND ORCHESTRA PURPOSE: MIAMI RESIDENCY | $100,000 |
UNIVERSITY OF MIAMI MILLER SCHOOL OF MEDICINE PURPOSE: DEPT OF NEUROLOGY. | $100,000 |
Washington, DC PURPOSE: PROGRAN SUPPORT | $100,000 |
Miami Beach, FL PURPOSE: NWS MOBILE WALL | $100,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bobbie Bailey Foundation Inc Tucker, GA | $24,485,053 | $1,564,197 |
Yhwh Foundation Inc Carrollton, GA | $0 | $14,288,691 |
Miriam U Hoover Foundation Vero Beach, FL | $0 | $462,542 |
Dr Herbert And Nicole Wertheim Family Foundation Inc Miami, FL | $42,831,898 | $5,245,016 |
Quality Senior Housing Foundation Of East Texas Inc Atlanta, GA | $68,762,519 | $14,924,948 |
The Mary Alice Fortin Foundation Palm Beach, FL | $167,401,142 | $8,209,363 |
Zeist Foundation Inc Atlanta, GA | $306,093,080 | $21,313,980 |
Anverse Inc Cartersville, GA | $0 | $25,436,325 |
Louis And Gloria Flanzer Philantrhopic Tr Sarasota, FL | $95,188,629 | $13,796,000 |
Uga Real Estate Foundation Inc Athens, GA | $310,229,529 | $14,839,274 |
The Gary W Rollins Foundation Atlanta, GA | $72,624,629 | $27,015,806 |
Theodore R & Vivian M Johnson Scholarship Foundation Inc West Palm Beach, FL | $0 | $7,841,898 |