Lexington Foundation
- Assets
- $1.5m
- Revenue
- $59.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Lexington, MS
- Founding
- 04/2000
- Data as of
- 12/2021
- 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 12/2021, Lexington Foundation generated $59.5k 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 (18.2%) each year. All expenses for the organization totaled $137.5k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (11.8%) 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 41 individual grants totaling $796,151. 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
INDIVIDUAL SCHOOL MINISTRIES-OUTREACH & TECHNOLOGY
SCHOOLS TO BE USED IN SCHOLARSHIPS & TUITION ASSISTANCE
OTHER ORGANIZATIONS THAT PROVIDE FINANCIAL AID TO FAMILIES IN FINANCIAL CRISIS.
DIRECT FINANCIAL ASSISTANCE TO THE COMMUNITY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carolyn S Myrick Exec Director | 6 | $600 | |
Matthew L Riley Secretary/treas | 0.5 | $0 | |
Katherine Barrett Riley President | 0.5 | $0 | |
Richard Barrett Director | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $48,157 |
| Interest on Savings | $270 |
| Dividends & Interest | $0 |
| Net Rental Income | -$44,339 |
| Net Gain on Sale of Assets | -$4,898 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $59,479 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $600 |
| Other employee salaries and wages | $4,800 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $413 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $60,445 |
| Total operating and administrative expenses | $66,258 |
| Contributions, gifts, grants paid | $71,208 |
| Total expenses and disbursements | $137,466 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $449,072 |
| 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 | $1,034,761 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,522,891 |
| 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 | $1 |
| Total liabilities | $299 |
Grants Awarded
Over the last fiscal year, Lexington Foundation has awarded $71,208 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
FINANCIAL AID TO PUBLIC ED ORGANIZA PURPOSE: FINANCIAL AID TO SUPPORT SCHOOL OUTREACH PROGRAMS | $27,546 |
FINANCIAL AID TO FAMILIES IN CRISIS PURPOSE: FINANCIAL AID TO FAMILIES IN FINANCIAL CRISIS | $27,312 |
FINANCIAL AID TO VARIOUS LOCAL CHUR PURPOSE: FINANCIAL AID TO OUTREACH MINISTRIES | $8,200 |
SCHOLARSHIPS PURPOSE: FINANCIAL AID TO STUDENTS IN NEED OF FINANCIAL HELP | $7,150 |
Lexington, MS PURPOSE: TUITION ASSISTANCE | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Trousdale Foundation Inc Cleveland, TN | $157,578,588 | $76,137,385 |
Rob And Melani Walton Foundation Bentonviille, AR | $541,056,642 | $120,568,910 |
Wend Ii Inc Bentonville, AR | $174,655,774 | $207,303,582 |
Maclellan Foundation Inc Chattanooga, TN | $225,301,353 | $34,552,415 |
Town Branch Foundation Bentonville, AR | $511,930,269 | $39,195,874 |
The Frist Foundation Nashville, TN | $198,128,014 | $36,312,656 |
Zoma Foundation Bentonville, AR | $228,655,575 | $19,208,599 |
Penner Family Foundation Bentonville, AR | $146,107,822 | $15,983,833 |
J R Hyde Iii Foundation Memphis, TN | $230,354,058 | $26,306,779 |
First Horizon Foundation Memphis, TN | $37,840,936 | $11,265,846 |
The William B Wiener Jr Foundation Shreveport, LA | $23,196,478 | $3,677,470 |
Bashinsky Foundation Inc Birmingham, AL | $2,626,965 | $3,568,518 |