Alex Thoresen Legacy Foundation
- Assets
- $234.4k
- Revenue
- $30.9k
- Investments
- $78.2k
- Employees
- 0
- Location
- Bloomfield Hills, MI
- Founding
- 07/2018
- Data as of
- 12/2022
- EIN
- 83-0790644
Organization Overview
Alex Thoresen Legacy Foundation is located in Bloomfield Hills, MI. The organization was established in 2018. According to its NTEE Classification (T50) the organization is classified as: Philanthropy, Charity & Voluntarism Promotion, 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. Alex Thoresen Legacy 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, Alex Thoresen Legacy Foundation generated $30.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (16.7%) each year.
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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $6,095 |
| Interest on Savings | $0 |
| Dividends & Interest | $3,641 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $21,205 |
| Total Revenue | $30,941 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $54 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $9,738 |
| Total operating and administrative expenses | $10,792 |
| Contributions, gifts, grants paid | $16,500 |
| Total expenses and disbursements | $27,292 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $156,149 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $234,391 |
| 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, Alex Thoresen Legacy Foundation has awarded $16,500 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
TUTORING CHICAGO PURPOSE: EDUCATIONAL TUTORING BI LINGUAL | $2,500 |
MI CENTER FOR CIVIC EDUCATION PURPOSE: EDUCATION FOR CIVIC INVOLVMENT | $2,500 |
A PLACE OF REFUGE PURPOSE: HOUSING FOR OLDER FOSTER CHILDREN | $7,500 |
A PLACE OF REFUGE PURPOSE: HOUSING FOR OLDER FOSTER CHILDREN | $2,500 |
TUTORING CHICAGO PURPOSE: EDUCATIONAL TUTORING BI LINGUAL | $1,500 |