Lovsted Family Charitable Foundation
- Assets
- $3.7m
- Revenue
- $217.1k
- Investments
- $3.7m
- Employees
- 0
- Location
- Mercer Island, WA
- Founding
- 11/1994
- Data as of
- 12/2022
- EIN
- 94-3216413
Organization Overview
Lovsted Family Charitable Foundation is located in Mercer Island, WA. The organization was established in 1994. 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. Lovsted Family Charitable 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, Lovsted Family Charitable Foundation generated $217.1k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 27.6% each year . All expenses for the organization totaled $273.2k during the year ending 12/2022. While expenses have increased by 15.2% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Lovsted Family Charitable Foundation has awarded 204 individual grants totaling $1,167,599. 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 |
|---|---|---|---|
James C Lovsted Director | 0.5 | $0 | |
Carl Lovsted Director | 0.5 | $0 | |
James C Lovsted Director | 0.5 | $0 | |
Carl Lovsted Director | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $59,067 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $158,001 |
| Capital Gain Net Income | $158,001 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $217,068 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $3,488 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $65 |
| Total operating and administrative expenses | $3,553 |
| Contributions, gifts, grants paid | $269,600 |
| Total expenses and disbursements | $273,153 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $79,874 |
| 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 | $32 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $3,747,747 |
| 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, Lovsted Family Charitable Foundation has awarded $269,600 in support to 31 organizations.
| Grant Recipient | Amount |
|---|---|
ASSOCIATION RECREATION COUNCIL - GREEN LAKE ROWING PURPOSE: TO HELP THE ORGANIZATION BUY AND MAINTAIN BOATS AND EQUIPMENT | $5,000 |
CHILDHAVEN PURPOSE: PROVIDE YOUNG ABUSED AND NEGLECTED CHILDREN WITH CARE AND SUPPORT | $40,000 |
DESC PURPOSE: HELPING THE HOMELESS | $1,500 |
JOYCE FIRE DEPARTMENT AUXILIARY PURPOSE: TO SERVE JOYCE RESIDENTS WITH MEDICAL NEEDS AND SHELTER IN THE AFTERMATH OF A CATASTROPHE | $2,500 |
FRED HUTCHINSON CANCER RESEARCH CENTER PURPOSE: CANCER RESEARCH | $5,000 |
GINGER'S PET RESCUE PURPOSE: TO SUPPORT RESCUE AND SHELTERING OF ABANDONED AND STRAY DOGS AND OTHER PETS. | $500 |