Luby & Catherine Wood Family Foundation
- Assets
- $2.3m
- Revenue
- $2.4m
- Investments
- $2.2m
- Employees
- 0
- Location
- Huntersville, NC
- Founding
- Data as of
- 12/2022
- EIN
- 87-3797275
Organization Overview
Luby & Catherine Wood Family Foundation is located in Huntersville, NC. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Luby & Catherine Wood Family 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, Luby & Catherine Wood Family Foundation generated $2.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (50.1%) each year.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Luby Wood Director | 1 | $0 | |
Catherine Wood Director | 1 | $0 | |
Reid Wood Director | 1 | $0 | |
Deborah Wood Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $157,726 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,272,044 |
| Capital Gain Net Income | $2,272,044 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $2,429,770 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $35,000 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,723 |
| Total operating and administrative expenses | $72,606 |
| Contributions, gifts, grants paid | $512,281 |
| Total expenses and disbursements | $584,887 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $110,351 |
| 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 | $748,358 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $2,347,164 |
| 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, Luby & Catherine Wood Family Foundation has awarded $512,281 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
MECKLENBURG COUNTY COUNCIL BOY SCOUTS OF AMERICA PURPOSE: TO SUPPORT CREATION OF MEDITATION GARDEN. | $10,000 |
CAMPBELL UNIVERSITY INC PURPOSE: SCHOLARSHIP | $219,699 |
JOHNSTON COMMUNITY COLLEGE FOUNDATION PURPOSE: SCHOLARSHIP | $3,977 |
JOHNSTON COMMUNITY COLLEGE FOUNDATION PURPOSE: SCHOLARSHIP | $278,605 |