Lexington Foundation
- Assets
- $1.5m
- Revenue
- $83.0k
- Investments
- $9.4k
- Employees
- 0
- Location
- Lexington, MS
- Founding
- 04/2000
- Data as of
- 12/2022
- EIN
- 64-0912814
Organization Overview
Lexington Foundation is located in Lexington, MS. The organization was established in 2000. 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. Lexington 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 12/2022, Lexington Foundation generated $83.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (16.0%) each year. All expenses for the organization totaled $124.6k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (13.7%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Lexington Foundation has awarded 53 individual grants totaling $1,116,799. 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
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
INDIVIDUAL SCHOOL MINISTRIES-OUTREACH & TECHNOLOGY
SCHOOLS TO BE USED IN SCHOLARSHIPS & TUITION ASSISTANCE
OTHER ORGANIZATIONS THAT PROVIDE FINANCIAL AID TO FAMILIES ISIS.
DIRECT FINANCIAL ASSISTANCE TO THE COMMUNITY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matthew L Riley Secretary/tr | 0.25 | $0 | |
Katherine Barrett Riley President | 0.5 | $0 | |
Richard Barrett Director | 0.25 | $0 | |
Carolyn S Myrick Exec Directo | 5 | $600 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $63,824 |
| Interest on Savings | $131 |
| Dividends & Interest | $0 |
| Net Rental Income | -$46,434 |
| Net Gain on Sale of Assets | -$8,640 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $83,028 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $600 |
| Other employee salaries and wages | $4,800 |
| Pension plans, employee benefits | $413 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $39,789 |
| Occupancy | $16,562 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $13,135 |
| Total operating and administrative expenses | $85,449 |
| Contributions, gifts, grants paid | $39,119 |
| Total expenses and disbursements | $124,568 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $252,665 |
| Savings and temporary cash investments | $3,778 |
| 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 | $35,280 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $9,373 |
| Net Land, buildings, and equipment | $1,180,254 |
| Other assets | $0 |
| Total assets | $1,481,350 |
| Accounts payable and accrued expenses | $298 |
| 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 | $298 |
Grants Awarded
Over the last fiscal year, Lexington Foundation has awarded $39,119 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
INDIVIDUAL SCHOOL MINISTRIES PURPOSE: FINANCIAL AID TO OUTREACH MINISTRIES | $12,192 |
LOCAL SCHOOLS PURPOSE: SCHOLARSHIPS | $6,550 |
FAMILY AID ORGANIZATIONS PURPOSE: AID TO FAMILIES IN FIN CRISIS | $14,351 |
CITY OF LEXINGTON PURPOSE: FIN SUPPORT TO FIRE & POLICE | $6,026 |