Lovers Lane United Methodist Churchfoundation
- Assets
- $25.3m
- Revenue
- $2.9m
- Investments
- $1.3m
- Employees
- 1
- Location
- Dallas, TX
- Founding
- 09/1980
- Data as of
- 12/2021
- EIN
- 75-1717845
Organization Overview
Lovers Lane United Methodist Churchfoundation is located in Dallas, TX. The organization was established in 1980. According to its NTEE Classification (X21) the organization is classified as: Protestant, under the broad grouping of Religion-Related and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lovers Lane United Methodist Churchfoundation 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, Lovers Lane United Methodist Churchfoundation generated $2.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 18.4% each year . All expenses for the organization totaled $887.9k during the year ending 12/2021. While expenses have increased by 6.5% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE FOUNDATION IS TO BUILD AND MANAGE A FINANCIAL CORNERSTONE SUPPORTING THE MINISTRIES, OUTREACH, MAINTENANCE, OPERATIONS, AND EVANGELISM OF LOVERS LANE UNITED METHODIST CHURCH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE LOVERS LANE UNITED METHODIST CHURCH FOUNDATION (THE "FOUNDATION") EXISTS SOLELY TO SUPPORT LOVERS LANE UNITED METHODIST CHURCH (THE "CHURCH") AND ITS MINISTRIES ("MINISTRIES"), THROUGH THE RECEIPT OF CONTRIBUTIONS TO ONE OR MORE ENDOWMENT FUNDS HELD BY THE FOUNDATION, WHICH ARE INVESTED AND THE INCOME AND GAINS FROM SUCH INVESTMENTS ARE USED TO MAKE GRANTS AND DISTRIBUTIONS TO THE CHURCH, ITS MINISTRIES OR INDIVIDUALS SERVED BY THE CHURCH OR ITS MINISTRIES. 2021 WAS A GREAT YEAR FOR THE FOUNDATION. TOTAL ASSETS REMAIN AT THE HIGHEST LEVELS (ALMOST 25 MILLION). OUR DISTRIBUTIONS OR GRANTS TO THE CHURCH AND ITS MINISTRIES HAVE GROWN TO MORE THAN 450,000 IN 2021. BELOW ARE EXAMPLES OF HOW THE FOUNDATION HAS SUPPORTED OUR CHURCH WITH GRANTS IN 2021 (ROUNDED TO NEAREST APPROXIMATE NUMBER): FACILITIES 325,000 IMANI AFRICAN MINISTRIES 61,000 SCHOLARSHIPS 25,000 LECTURE SERIES 25,000 MUSIC & ARTS 25,000 BENEVOLENCE & CARE 23,000 FOOD MINISTRIES 20,000 MODERN WORSHIP EQUIPMENT 20,000 EVERYBODY'S CHRISTMAS 10,000 KIDS, YOUTH AND YAM MINISTRIES 9,000 STAFF COMPUTERS & TRAINING 8,000 AUSTIN'S ARMY 8,000 ARTREACH GALLERY 7,500 DEAF MINISTRIES 7,200 WALNUT HILL SANCTUARY 1,500 WALNUT HILL CHURCH 35,000 AS OF 12-31-2021, THE FOUNDATION'S ENDOWMENT FUNDS CURRENTLY TOTAL MORE THAN 17 MILLION. IN ADDITION, THE FOUNDATION HOLDS AND INVESTS FUNDS OF THE CHURCH AND ITS 501(C)(3) SUBSIDIARIES TOTALING APPROXIMATELY 3.5 MILLION. THE FOUNDATION IS MORE THAN JUST A SERIES OF ENDOWMENT TRUSTS -- IT IS LITERALLY THE FOUNDATION UPON WHICH MUCH OF THE FINANCES OF OUR CHURCH AND ITS MINISTRIES DEPEND. OUR CONGREGATION HAS MADE THE CHURCH PART OF THEIR LIVES -- THE FOUNDATION IS THEIR OPPORTUNITY TO MAKE THE CHURCH PART OF THEIR LEGACY.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Ditto Executive Di | Officer | 50 | $114,538 |
Laura Bierck Secretary/di | OfficerTrustee | 2 | $0 |
Dorothy Bjorck Chair/pres./ | OfficerTrustee | 2 | $0 |
Dee Velvin Events/direc | OfficerTrustee | 2 | $0 |
Darden Mcfarlin Treasurer/di | OfficerTrustee | 2 | $0 |
Steve Maus Investments | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,299,974 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,299,974 |
| Total Program Service Revenue | $49,464 |
| Investment income | $547,684 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $998,180 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,897,357 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $481,613 |
| Grants and other assistance to domestic individuals. | $26,491 |
| Grants and other assistance to Foreign Orgs/Individuals | $70,122 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $115,185 |
| Compensation of current officers, directors, key employees. | $46,072 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $30,961 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $8,763 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,618 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $84,086 |
| Fees for services: Other | $32,868 |
| Advertising and promotion | $0 |
| Office expenses | $4,644 |
| Information technology | $4,553 |
| Royalties | $0 |
| Occupancy | $4,140 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,966 |
| Interest | $66 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,983 |
| All other expenses | $0 |
| Total functional expenses | $887,926 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $120,036 |
| Savings and temporary cash investments | $770,555 |
| Pledges and grants receivable | $117,271 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $46,597 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $18,486,050 |
| Investments—other securities | $1,269,400 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,539,604 |
| Total assets | $25,349,513 |
| Accounts payable and accrued expenses | $8,275 |
| Grants payable | $33,813 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $3,561,407 |
| 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 | $0 |
| Total liabilities | $3,603,495 |
| Net assets without donor restrictions | $5,868,857 |
| Net assets with donor restrictions | $15,877,161 |
| 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 | $25,349,513 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Lovers Lane United Methodist Churchfoundation has recieved totaling $227,039.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: RELIGION RELATED | $139,450 |
The Ryrie Foundation Dallas, TX PURPOSE: OVERFLOWING HOPE CAPITAL CAMPAIGN FOUNDATION | $50,000 |
Chilton Foundation Tr Nashville, TN PURPOSE: CHARITY | $25,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $6,589 |
Vilfordi Family Foundation 542-74c97 Pennington, NJ PURPOSE: UNRESTRICTED GENERAL | $3,500 |
Lumry Family Foundation Dallas, TX PURPOSE: CHARITABLE | $2,000 |
Endowment Analysis
| Beg. Balance | $7,398,648 |
| Earnings | $11,824 |
| Net Contributions | $1,047,581 |
| Ending Balance | $8,458,053 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Mission Of Hope Austin, TX | $30,630,297 | $30,889,522 |
New Orleans Mission Inc New Orleans, LA | $5,963,143 | $11,588,055 |
Presbyterian Village Inc Little Rock, AR | $7,163,719 | $8,947,997 |
Village At Gleannloch Farms Inc Austin, TX | $0 | $0 |
City Of Faith Prison Ministries Monroe, LA | $6,013,159 | $9,077,995 |
Usatransform Southlake, TX | $4,678,487 | $10,648,450 |
Iglesia Bethel Ministries Inc San Antonio, TX | $9,077,539 | $1,090,041 |
Powerpoint Ministries Plano, TX | $1,308,223 | $5,704,956 |
Permanent Endowment Fund Of The Moody Memorial First United Method Galveston, TX | $123,313,594 | $19,045,257 |
Greater St Stephen Ministries New Orleans, LA | $35,746,422 | $4,835,716 |
Abundant Rain Ministries Inc Coweta, OK | $1,184,763 | $4,705,451 |
Reaching Souls International Inc Oklahoma City, OK | $9,096,171 | $6,014,810 |