Greater Love Foundation
- Assets
- $3.5m
- Revenue
- $596.5k
- Investments
- $3.5m
- Employees
- 0
- Location
- Palos Verdes Estates, CA
- Founding
- Data as of
- 12/2023
- EIN
- 84-3792994
Organization Overview
Greater Love Foundation is located in Palos Verdes Estates, CA. According to its NTEE Classification (T99) the organization is classified as: Philanthropy, Voluntarism & Grantmaking Foundations N.E.C., 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. Greater Love 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 12/2023, Greater Love Foundation generated $596.5k 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 (27.0%) each year. All expenses for the organization totaled $430.2k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Greater Love Foundation has awarded 12 individual grants totaling $1,411,000. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lindsay Tong President | 1 | $0 | |
Lauren Tong Secretary | 1 | $0 | |
Stephanie Tang CFO | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $382,000 |
| Interest on Savings | $60 |
| Dividends & Interest | $83,631 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $130,766 |
| Capital Gain Net Income | $130,766 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $15 |
| Total Revenue | $596,472 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $3,886 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $25 |
| Total operating and administrative expenses | $42,227 |
| Contributions, gifts, grants paid | $388,000 |
| Total expenses and disbursements | $430,227 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $40,432 |
| 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 | $3,036,845 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $3,526,936 |
| 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, Greater Love Foundation has awarded $388,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
BIBLE STUDY FELLOWSHIP PURPOSE: TO OFFER A PROGRAM SYSTEM OF STRUCTURED BIBLE STUDY. | $18,000 |
CALVARY CHAPEL SOUTH BAY PURPOSE: PAYMENTS TO HELP CHURCH CAMP AND OTHER SUCH ACTIVITIES. | $300,000 |
JOURNEY HOUSE PURPOSE: TO SUPPORT OUTREACH PROGRAMS FOR FORMER FOSTER AND PROBATION YOUTH | $40,000 |
CRRS CULTURE REGENERATION RESEARCH SOCIETY PURPOSE: TO SUPPORT CRRS' LEADERSHIP, ACADEMIC & CARING MINISTRIES | $30,000 |