Lofthouse Foundation
- Assets
- $634.6k
- Revenue
- $65.7k
- Investments
- $345.9k
- Employees
- 0
- Location
- Kaysville, UT
- Founding
- 02/2002
- Data as of
- 12/2022
- EIN
- 75-2982563
Organization Overview
Lofthouse Foundation is located in Kaysville, UT. The organization was established in 2002. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Lofthouse 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, Lofthouse Foundation generated $65.7k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 31.3% each year . All expenses for the organization totaled $28.6k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Lofthouse Foundation has awarded 46 individual grants totaling $223,445. 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
THE FOUNDATION RECEIVED APPROVAL OF ITS GRANT-MAKING PROCEDURES FROM THE IRS IN FEBRUARY 2003 AND ISSUED GRANTS TO STUDENTS AT SIX UNIVERSITIES.
THE FOUNDATION MADE CONTRIBUTIONS TO ONE TAX-EXEMPT ORGANIZATION FOR GENERAL USE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David L Stone Trustee | 1 | $0 | |
Deann R Stone Trustee | 1 | $0 | |
David Lehi Stone Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $10,312 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $54,628 |
| Capital Gain Net Income | $54,628 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $776 |
| Total Revenue | $65,716 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $205 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $7,138 |
| Contributions, gifts, grants paid | $21,494 |
| Total expenses and disbursements | $28,632 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $288,657 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $3,054 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $634,593 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
Grants Awarded
Over the last fiscal year, Lofthouse Foundation has awarded $21,494 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
COLLEGE OF IDAHO PURPOSE: SCHOLARSHIP | $2,500 |
DAVIS EDUCATION FOUNDATION PURPOSE: GENERAL FUND - HUMANITARIAN AID | $10,244 |
HARVARD COLLEGE PURPOSE: SCHOLARSHIP | $2,500 |
LIFE UNIVERSITY PURPOSE: SCHOLARSHIP | $2,500 |
UNIVERSITY OF IDAHO PURPOSE: SCHOLARSHIP | $2,500 |
YALE UNIVERSITY PURPOSE: SCHOLARSHIP | $1,250 |