Ls Classic Foundation
- Assets
- $1.0m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 4
- Location
- Austin, TX
- Founding
- 04/2000
- Data as of
- 12/2022
- EIN
- 74-2931329
Organization Overview
Ls Classic Foundation is located in Austin, TX. 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. As of 12/2022, Ls Classic Foundation employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ls Classic 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, Ls Classic Foundation generated $1.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $685.7k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO CURE SPINAL CORD PARALYSIS (SCP) THROUGH FUNDING RESEARCH, RECOVERY AND RECREATION (THREE R'S).
Describe the Organization's Program Activity:
Part 3 - Line 4a
RESEARCH - RAISE FUNDS FOR MEDICAL RESEARCH TO FIND A CURE. RECOVERY - RAISE FUNDS TO HELP THOSE INJURED RECEIVE PHYSICAL THERAPY, AND TO BUY EQUIPMENT FOR THE RECOVERY CENTER. RECREATION - CREATED AN ADAPTIVE SPORTS PROGRAM FOR SCI INDIVIDUALS
RESEARCH - RAISE FUNDS FOR MEDICAL RESEARCH TO FIND A CURE. RECOVERY - RAISE FUNDS TO HELP THOSE INJURED RECEIVE PHYSICAL THERAPY, AND TO BUY EQUIPMENT FOR THE RECOVERY CENTER. RECREATION - CREATED AN ADAPTIVE SPORTS PROGRAM FOR SCI INDIVIDUALS
ORGANIZATION PROVIDED SCHOLARSHIPS TO (1) FUND REHABILITATION NEEDS FOR INDIVIDUALS WITH PARALYSIS DUE TO COMPLEX NEUROLOGICAL DISEASE OR INJURY WHEN THE RESOURCES FOR FUNDING HAS EXPIRED; AND (2) FUND DREAMS OR DESIRES TO PATIENTS/CLIENTS FROM WITHIN THE SCI COMMUNITY. THERE WERE 15 TOTAL SCHOLARSHIPS AWARDED IN 2022.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
L Douglas English President | OfficerTrustee | 2 | $0 |
Jack Ranney Vice Pres. | OfficerTrustee | $0 | |
Laura Peck Secretary | OfficerTrustee | $0 | |
Mike Haynes Exec. Dir. | Officer | 40 | $18,000 |
Kelly Sharp Board Member | Trustee | $0 | |
Steve Bartholemew Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $85,770 |
| Related organizations | $0 |
| Government grants | $329,087 |
| All other contributions, gifts, grants, and similar amounts not included above | $419,598 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $834,455 |
| Total Program Service Revenue | $0 |
| Investment income | $4,799 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $317,252 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,156,506 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $115,000 |
| Grants and other assistance to domestic individuals. | $92,091 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $169,653 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $12,825 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,240 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $78 |
| Advertising and promotion | $0 |
| Office expenses | $18,153 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,620 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $4,802 |
| All other expenses | $21,700 |
| Total functional expenses | $685,689 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,022,501 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $13,500 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,036,001 |
| Accounts payable and accrued expenses | $1,500 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $4,602 |
| Total liabilities | $6,102 |
| Net assets without donor restrictions | $1,029,899 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,036,001 |
Grants Awarded
Over the last fiscal year, Ls Classic Foundation has awarded $150,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF TEXAS AT AUSTINSECTION OF NEUROBIOLOGY PURPOSE: RESEARCH FUNDING | $60,000 |
NEURAPTIVE THERAPEUTICS INC | | | $15,000 |
UNIVERSITY OF TEXAS AT AUSTINSECTION OF NEUROBIOLOGY PURPOSE: RESEARCH FUNDING | $60,000 |
NEURAPTIVE THERAPEUTICS INC | | | $15,000 |