Lee Bank Foundation Inc
- Assets
- $5.0m
- Revenue
- $1.5m
- Investments
- $4.6m
- Employees
- 0
- Location
- Lee, MA
- Founding
- Data as of
- 06/2024
- EIN
- 86-1211806
Organization Overview
Lee Bank Foundation Inc is located in Lee, MA. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lee Bank Foundation 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 06/2024, Lee Bank Foundation Inc generated $1.5m in total revenue. The organization has seen a slow decline revenue. Over the past 3 years, revenues have fallen by an average of (2.0%) each year. All expenses for the organization totaled $217.6k during the year ending 06/2024. As we would expect to see with falling revenues, expenses have declined by (7.7%) per year over the past 3 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Lee Bank Foundation Inc has awarded 138 individual grants totaling $700,400. 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 |
|---|---|---|---|
Charles Leach President | 1 | $0 | |
Alison Brigham Treasurer | 1 | $0 | |
Nina Garlington Secretary | 1 | $0 | |
Jason Mccandless Director | 1 | $0 | |
Sandra Lojano Director | 1 | $0 | |
Jennibeth Gomez Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,350,000 |
| Interest on Savings | $49,947 |
| Dividends & Interest | $83,604 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$16,275 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $7,072 |
| Total Revenue | $1,474,348 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $2,529 |
| Depreciation | $333 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $3,700 |
| Total operating and administrative expenses | $35,203 |
| Contributions, gifts, grants paid | $182,370 |
| Total expenses and disbursements | $217,573 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $377,484 |
| Savings and temporary cash investments | $109 |
| Net Accounts receivable | $16,710 |
| 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 | $1,350 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $5,041,613 |
| 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 | $54 |
| Total liabilities | $54 |
Grants Awarded
Over the last fiscal year, Lee Bank Foundation Inc has awarded $182,370 in support to 41 organizations.
| Grant Recipient | Amount |
|---|---|
18 DEGREES INC PURPOSE: EXEMPT PURPOSE | $7,500 |
BARRINGTON STAGE COMPANY PURPOSE: EXEMPT PURPOSE | $5,000 |
BERKSHIRE COMMUNITY DIAPER PROJECT PURPOSE: EXEMPT PURPOSE | $1,000 |
BECKET ATHENAEUM PURPOSE: EXEMPT PURPOSE | $4,000 |
BERKSHIRE BOTANICAL GARDENS PURPOSE: EXEMPT PURPOSE | $1,000 |
BERKSHIRE AGRICULTURAL VENTURES PURPOSE: EXEMPT PURPOSE | $5,000 |