Lovers Lane United Methodist Churchfoundation

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. As of 12/2023, Lovers Lane United Methodist Churchfoundation employed 2 individuals. 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 12/2022, Lovers Lane United Methodist Churchfoundation generated $836.6k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.8%) each year. All expenses for the organization totaled $1.0m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990T Filing

TAX YEAR

2022

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:

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 DISTRIBUTIONS TO THE CHURCH, ITS MINISTRIES OR INDIVIDUALS SERVED BY THE CHURCH OR ITS MINISTRIES. 2022 WAS A GREAT YEAR FOR THE FOUNDATION. TOTAL ASSETS REMAIN AT THE HIGHEST LEVELS (ALMOST 22,000,000). OUR DISTRIBUTIONS OR GRANTS TO THE CHURCH AND ITS MINISTRIES HAVE GROWN FROM APPROXIMATELY 440,000 IN 2019 TO MORE THAN HALF A MILLION IN 2020, AND 2021; AND MORE THAN 550,000 IN 2022. BELOW ARE EXAMPLES OF HOW THE FOUNDATION HAS SUPPORTED OUR CHURCH WITH GRANTS IN 2022 (ROUNDED TO NEAREST APPROXIMATE NUMBER): EVERYBODY'S CHRISTMAS 14,000 EMERGENCY AID FOR FAMILIES 23,200 CAMPUS REPAIRS AND MAINTENANCE 427,000 CHILDREN/YOUTH/YOUNG ADULTS 29,000 MUSIC & ARTS 17,500 DEAF MINISTRIES 6,800 LECTURE SERIES 34,000 12 STEP MINISTRIES 14,000 FAMILY MINISTRIES 7,000 PRISON MINISTRIES 2,800 IMANI KENYA MINISTRIES 56,000 AS OF 12-31-2022, THE FOUNDATION'S ENDOWMENT FUNDS CURRENTLY TOTAL ALMOST 18.7 MILLION. IN ADDITION, THE FOUNDATION HOLDS AND INVESTS FUNDS OF THE CHURCH AND ITS 501(C)(3) SUBSIDIARIES TOTALING APPROXIMATELY 4.6 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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Board, Officers & Key Employees

Name (title)Compensation
Paul Ditto
Executive Di
$112,537
Dorothy Bjorck
Chair/direct
$0
Cassidy Baird
Secretary/di
$0
Steve Maus
Investments
$0
Dee Velvin
Events Ex-Of
$0
David Anderson
Dev Co-Chair
$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$291,078
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$291,078
Total Program Service Revenue$32,111
Investment income $606,871
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$93,519
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $836,601

Grants Awarded

Over the last fiscal year, Lovers Lane United Methodist Churchfoundation has awarded $621,834 in support to 2 organizations.

Grant RecipientAmount

LOVERS LANE UNITED METHODIST CHURCH

PURPOSE: SEE PART IV

$607,834

TWELFTH STEP MINISTRY

PURPOSE: SUPPORT

$14,000
View Grant Profile

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