Lotus Supporting Foundation Inc
- Assets
- $18.5m
- Revenue
- $178.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Miami Beach, FL
- Founding
- 02/2016
- Data as of
- 12/2023
- EIN
- 81-0783068
Organization Overview
Lotus Supporting Foundation Inc is located in Miami Beach, FL. The organization was established in 2016. According to its NTEE Classification (L11) the organization is classified as: Single Organization Support, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lotus Supporting Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION WAS FORMED TO SECURE THE FINANCIAL STABILITY AND LONG-TERM VIABILITY OF THE SUNDARI FOUNDATION, INC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LOTUS SUPPORTING FOUNDATION, INC. IS A 501(C)(3)SUPPORTING FOUNDATION FOR THE SUNDARI FOUNDATION, INC. AND ITS INITIATIVES, INCLUDING THE LOTUS WOMEN'S SHELTER AND ITS REDEVELOPMENT AND EXPANSION IN THE LOTUS VILLAGE PROJECT AS WELL AS THE PLANNED DEVELOPMENT AND THE CHILDREN'S VILLAGE AT LOTUS VILLAGE. LOTUS SUPPORTING FOUNDATION, INC. WAS FORMED TO SECURE THE FINANCIAL STABILITY AND LONG-TERM VIABILITY OF THE SUNDARI FOUNDATION, SO THE LOTUS HOUSE AND THE LOTUS VILLAGE WILL SERVE AS A RESOURCE FOR WOMEN,CHILDREN AND YOUTH IN NEED FOR GENERATIONS TO COME.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Constance Collins President/di | OfficerTrustee | 1 | $0 |
Julie Lotspeich Secty, Treas | OfficerTrustee | 1 | $0 |
Martin Marguiles Director | Trustee | 1 | $0 |
John Sumberg Vice Pres/di | OfficerTrustee | 1 | $0 |
Debbi Weschler Director | Trustee | 1 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $178,226 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $178,226 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $400 |
| Fees for services: Accounting | $12,850 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,295,344 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $97 |
| Total functional expenses | $1,308,691 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $229,913 |
| Savings and temporary cash investments | $60,012 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $18,183,550 |
| 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 | $18,473,475 |
| Accounts payable and accrued expenses | $0 |
| 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 | $21,023,485 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $115,963 |
| Total liabilities | $21,139,448 |
| Net assets without donor restrictions | -$2,665,973 |
| 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 | $18,473,475 |