Sears Family Foundation
- Assets
- $2.3m
- Revenue
- $362.0k
- Investments
- $1.4m
- Employees
- 0
- Location
- Lake Placid, NY
- Founding
- 05/1987
- Data as of
- 12/2022
- EIN
- 11-7040015
Organization Overview
Sears Family Foundation is located in Lake Placid, NY. The organization was established in 1987. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Sears 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, Sears Family Foundation generated $362.0k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $236.9k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Sears Family Foundation has awarded 38 individual grants totaling $1,265,674. 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO ENCOURAGE THE ARTS SUCH AS MUSIC, THEATRE, DANCE, SOUND AND VIDEO AND OTHER RELATED ACTIVITIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Olga Malinova CFO | 20 | $7,000 | |
Margarita Sears Trustee | 20 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $266,000 |
| Interest on Savings | $104 |
| Dividends & Interest | $104,423 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$18,340 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $9,823 |
| Total Revenue | $362,010 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $7,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $10,625 |
| Depreciation | $3,879 |
| Occupancy | $41,741 |
| Travel, conferences, and meetings | $4,962 |
| Printing and publications | $0 |
| Other expenses | $20,313 |
| Total operating and administrative expenses | $100,373 |
| Contributions, gifts, grants paid | $136,500 |
| Total expenses and disbursements | $236,873 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $107,891 |
| Savings and temporary cash investments | $722,528 |
| 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 | $0 |
| Net Land, buildings, and equipment | $55,462 |
| Other assets | $0 |
| Total assets | $2,259,543 |
| Accounts payable and accrued expenses | $11,700 |
| 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 | $11,700 |
Grants Awarded
Over the last fiscal year, Sears Family Foundation has awarded $136,500 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
COOPERSTOWN THEATRE FESTIVAL PURPOSE: PROVIDE A PROGRAM OF COMMUNITY SUMMER CONCERTS | $41,000 |
THE METROPOLITAN OPERA PURPOSE: DANCE, MUSIC AND PERFORMANCES | $3,500 |
WILL'S GARDEN PURPOSE: CONTEMPORY DANCE, MUSIC AND PERFORMANCES ON ICE | $92,000 |