Lions Automobilia Foundation
- Assets
- $12.8m
- Revenue
- $3.3m
- Investments
- $0.0
- Employees
- 8
- Location
- Rancho Dominguez, CA
- Founding
- Data as of
- 12/2022
- EIN
- 84-3574395
Organization Overview
Lions Automobilia Foundation is located in Rancho Dominguez, CA. According to its NTEE Classification (A50) the organization is classified as: Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2022, Lions Automobilia Foundation employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lions Automobilia 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, Lions Automobilia Foundation generated $3.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (23.7%) each year. All expenses for the organization totaled $2.4m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO HONOR AND PRESERVE THE LEGACY OF MOTORSPORTS & CAR CULTURE IN SOUTHERN CALIFORNIA FOR FUTURE GENERATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RECEIVED AND STORED DONATION OF CLASSIC CARS AND RACE VEHICLES REPRESENTING THE SOUTHERN CALIFORNIA CAR CULTURE. LIONS TEAM RESTORES DONATED COLLECTIBLES AND AUTOMOTIVE PARTS.
LIONS AUTOMOBILIA FOUNDATION MUSEUM ADMISSIONS - OPENED THE MUSEUM TO THE PUBLIC ON AUGUST 21, 2022 FOR SATURDAY OPENINGS.
LIONS YOUTH ENGAGEMENT PROGRAM - OUR YOUTH ENGAGEMENT PROGRAM COMMITTEE WAS ESTABLISHED IN MAY, 2021 DEVELOPING CURRICULUM FOR YOUTH AND CAREER PATH PROGRAMS WITH LITTLE PROGRESS DUE TO RESTRAINT OF COVID REGULATIONS. A NEW COMMITTEE WAS ESTABLISHED IN 2022 WITH MEMBERS WITH EDUCATIONAL BACKGROUNDS INCLUDING A POTENTIAL PARTNERSHIP WITH THE SOCIETY OF AUTOMOTIVE ENGINEERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rick Lorenzen Chair | OfficerTrustee | 5 | $0 |
Tami Lorenzen-Fanselow Vice Chair/treasurer | OfficerTrustee | 2 | $0 |
Robert Marchese Secretary/director Of Operations | OfficerTrustee | 40 | $94,306 |
Tom Elliott Board Member | Trustee | 0.5 | $0 |
Carl Olson Board Member | Trustee | 0.5 | $0 |
Marc Platt Board Member | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Joseph Kennedy Restoration Of Vehicles | 12/30/21 | $286,031 |
Jason Kennedy Restoration Of Vehicles | 12/30/21 | $136,296 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $2,030 |
| Fundraising events | $0 |
| Related organizations | $2,289,049 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $855,449 |
| Noncash contributions included in lines 1a–1f | $843,945 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,146,528 |
| Total Program Service Revenue | $88,838 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $5,000 |
| Net Income from Fundraising Events | $32,168 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $8,888 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,282,280 |
| 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. | $199,948 |
| Compensation of current officers, directors, key employees. | $105,642 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $186,252 |
| Pension plan accruals and contributions | $61,357 |
| Other employee benefits | $135,963 |
| Payroll taxes | $201,144 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,706 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $6,146 |
| Advertising and promotion | $36,750 |
| Office expenses | $11,366 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $704,306 |
| Travel | $0 |
| 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 | $83,975 |
| Insurance | $33,393 |
| All other expenses | $155,597 |
| Total functional expenses | $2,399,458 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $47,905 |
| 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 | $12,072 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $871,959 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $11,840,328 |
| Total assets | $12,772,264 |
| Accounts payable and accrued expenses | $20,722 |
| 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 | $162,069 |
| Total liabilities | $182,791 |
| Net assets without donor restrictions | $12,589,473 |
| 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 | $12,772,264 |