Lee Initiative Inc
- Assets
- $1.2m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 7
- Location
- Louisville, KY
- Founding
- 03/2018
- Data as of
- 12/2023
- EIN
- 82-3884798
Organization Overview
Lee Initiative Inc is located in Louisville, KY. The organization was established in 2018. According to its NTEE Classification (J20) the organization is classified as: Employment Preparation & Procurement, under the broad grouping of Employment and related organizations. As of 12/2023, Lee Initiative Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lee Initiative Inc 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 12/2023, Lee Initiative Inc generated $1.4m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 61.3% each year . All expenses for the organization totaled $2.0m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Lee Initiative Inc has awarded 334 individual grants totaling $6,005,877. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
ADDRESS THE NEED FOR EQUITY, DIVERSITY, SUSTAINABILITY AND COMPASSION IN THE RESTAURANT INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FISCAL AGENT FOR SOUTHERN RESTAURANTS FOR RACIAL JUSTICE, A PROGRAM THAT PROVIDES GRANTS TO BLACK OWNED RESTAURANTS AND FOOD BUSINESSES ACROSS AMERICA.
RESTAURANT WORKERS RELIEF AND OTHER GRANTS AND PROGRAM SERVICES.
A PROGRAM FOR WOMEN CULINARY AND SPIRITS PROFESSIONALS THAT FOCUSES ON LEADERSHIP DEVELOPMENT, MENTORSHIP AND EDUCATION OPPORTUNTIES FOR PROGRAM PARTICIPANTS.
M. FRANCES RESTAURANT'S MISSION IS TO CREATE A THINK TANK PROJECT, THROUGH WHICH PROGRAMMATIC SOLUTIONS WILL BE CREATED AND IMPLEMENTED TO ADDRESS SOME OF THE INDEPENDENT RESTAURANT INDUSTRY'S MOST PRESSING ISSUES, WHILE ALSO PROVIDING SUPPORT TO THE LOCAL COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ben Johnson President | OfficerTrustee | 1 | $0 |
Karen Keith Vice President | OfficerTrustee | 1 | $0 |
Ben Robinson Treasurer | OfficerTrustee | 1 | $0 |
Shauntrice Martin Secretary | OfficerTrustee | 1 | $0 |
Lindsey Ofcacek Managing Director | Officer | 55 | $100,657 |
Edward Lee Creative Director | Officer | 10 | $50,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $5,590 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,416,753 |
| Noncash contributions included in lines 1a–1f | $3,200 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,422,343 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$8,239 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $824 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,414,928 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,026,000 |
| 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. | $161,240 |
| Compensation of current officers, directors, key employees. | $49,326 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $221,406 |
| Pension plan accruals and contributions | $1,209 |
| Other employee benefits | $2,226 |
| Payroll taxes | $26,730 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $40,045 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $89,748 |
| Advertising and promotion | $72,354 |
| Office expenses | $20,630 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $10,803 |
| Travel | $1,584 |
| 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 | $18,832 |
| Insurance | $3,792 |
| All other expenses | $0 |
| Total functional expenses | $1,999,249 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $603,583 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $113,287 |
| Net Land, buildings, and equipment | $442,770 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $25,298 |
| Total assets | $1,184,938 |
| Accounts payable and accrued expenses | $249,577 |
| 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 | $9,944 |
| Total liabilities | $259,521 |
| Net assets without donor restrictions | -$128,174 |
| Net assets with donor restrictions | $1,053,591 |
| 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 | $1,184,938 |
Grants Awarded
Over the last fiscal year, Lee Initiative Inc has awarded $1,011,000 in support to 66 organizations.
| Grant Recipient | Amount |
|---|---|
A TASTE OF HEAVEN PURPOSE: RACIAL JUSTICE SRRJ | $15,000 |
AUNTIE KIM'S POUND CAKES PURPOSE: RACIAL JUSTICE SRRJ | $15,000 |
BIRD PIZZERIA PURPOSE: RACIAL JUSTICE SRRJ | $15,000 |
BUNA KURS ETHIOPIAN CAFE PURPOSE: RACIAL JUSTICE SRRJ | $15,000 |
BUTTERMILK BOUTIQUE PURPOSE: RACIAL JUSTICE SRRJ | $15,000 |
CAN'T BELIEVE IT'S VEGAN PURPOSE: RACIAL JUSTICE SRRJ | $15,000 |