Joseph And Kathleen Sorenson Legacy Foundation
- Assets
- $102.3m
- Revenue
- $6.9m
- Investments
- $87.0m
- Employees
- 0
- Location
- Salt Lake City, UT
- Founding
- 12/2018
- Data as of
- 12/2021
- EIN
- 83-2297329
Organization Overview
Joseph And Kathleen Sorenson Legacy Foundation is located in Salt Lake City, UT. The organization was established in 2018. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Joseph And Kathleen Sorenson 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.
Since 2019, Joseph And Kathleen Sorenson Legacy Foundation has awarded 149 individual grants totaling $10,766,117. 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
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
CAMP OAKLEY - FULL CAMP-OUT SITE EXPERIENCE OUTFITTED FOR WHEELCHAIR USERS AND OTHER WITH LIMITATIONS IN MOBILITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph Sorenson President/director | 5 | $26,000 | |
Kathleen Sorenson Vice President/director | 4 | $26,000 | |
Alan Robinson Treasurer | 4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bny Mellon | 12/30/21 | $431,795 |
Sorenson Enterprises | 12/30/21 | $152,367 |
Alan Robinson | 12/30/21 | $86,580 |
R Bliss Inc | 12/30/21 | $73,540 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $2,229,519 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $4,616,061 |
| Capital Gain Net Income | $4,986,082 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $21,975 |
| Total Revenue | $6,867,555 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $52,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $95,572 |
| Depreciation | $190,242 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $710 |
| Printing and publications | $0 |
| Other expenses | $183,872 |
| Total operating and administrative expenses | $1,233,345 |
| Contributions, gifts, grants paid | $4,392,847 |
| Total expenses and disbursements | $5,626,192 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $866,576 |
| Savings and temporary cash investments | $2,483,691 |
| 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 | $218,782 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $16,269,357 |
| Net Land, buildings, and equipment | $11,655,038 |
| Other assets | $83,291 |
| Total assets | $102,329,524 |
| Accounts payable and accrued expenses | $92,861 |
| 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 | $92,861 |
Grants Awarded
Over the last fiscal year, Joseph And Kathleen Sorenson Legacy Foundation has awarded $4,392,847 in support to 65 organizations.
| Grant Recipient | Amount |
|---|---|
LEAMINGTON TOWN CEMETRY PURPOSE: GENERAL SUPPORT | $688,014 |
Lehi, UT PURPOSE: GENERAL SUPPORT | $500,000 |
Salt Lake City, UT PURPOSE: GENERAL SUPPORT | $500,000 |
THE ZAHRA CHARITY INC PURPOSE: GENERAL SUPPORT | $500,000 |
CHURCH HISTORY DEPARTMENT PURPOSE: GENERAL SUPPORT | $250,000 |
Draper, UT PURPOSE: GENERAL SUPPORT | $175,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Joseph And Kathleen Sorenson Legacy Foundation has recieved totaling $788,006.
| Awarding Organization | Amount |
|---|---|
Sorenson Legacy Foundation Midvale, UT PURPOSE: GENERAL CHARITABLE PURPOSES | $788,006 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Meridian Institute Dillon, CO | $18,119,345 | $21,383,160 |
Gill Foundation Denver, CO | $227,109,663 | $12,646,667 |
Freeport-Mcmoran Copper & Gold Foundation Phoenix, AZ | $2,326,146 | $18,600,000 |
Carroll Petrie Foundation Santa Fe, NM | $306,631,944 | $55,176,464 |
Hughes Charitable Foundation Jackson, WY | $5,676,764 | $10,003,792 |
Air Force Academy Foundation USAF Academy, CO | $121,910,731 | $31,160,927 |
Kemper & Ethel Marley Foundation Phoenix, AZ | $235,853,723 | $45,107,707 |
Lannan Foundation Santa Fe, NM | $172,893,423 | $11,573,580 |
Adolph Coors Foundation Denver, CO | $181,746,526 | $17,055,158 |
Margulf Foundation Glendale, CO | $241,666,410 | $12,944,358 |
David C Butterfield And Alfonso D Rubio Memorial Foundation Aspen, CO | $229,390,732 | $219,209,286 |
Katherine W Dumke & Ezekiel R Dumke Jr Foundation Kaysville, UT | $0 | $4,334 |