Louis Armstrong Educational Foundation Inc
- Assets
- $10.3m
- Revenue
- $2.6m
- Investments
- $9.6m
- Employees
- 0
- Location
- New York, NY
- Founding
- 07/1987
- Data as of
- 06/2023
- EIN
- 13-2659286
Organization Overview
Louis Armstrong Educational Foundation Inc is located in New York, NY. The organization was established in 1987. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Louis Armstrong Educational 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 06/2023, Louis Armstrong Educational Foundation Inc generated $2.6m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 18.8% each year . All expenses for the organization totaled $1.3m during the year ending 06/2023. While expenses have increased by 8.0% per year over the past 8 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 2015, Louis Armstrong Educational Foundation Inc has awarded 170 individual grants totaling $5,492,020. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
LOUIS ARMSTRONG EMERGENCY FUND FOR JAZZ MUSICIANS: IN APRIL 2020, THE FUND BEGAN MAKING GRANTS TO FREELANCE JAZZ MUSICIANS THAT WERE NEGATIVELY IMPACTED BY THE COVID-19 PANDEMIC. DURING THE YEAR ENDED JUNE 30, 2021, THE FOUNDATION ISSUED A TOTAL OF 330,000 OF GRANTS TO OVER 500 MUSICIANS IN NEED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Wynton Marsalis President | 5 | $0 | |
Howard Schain Treasurer | 7.5 | $0 | |
David Chevan Secretary | 2.5 | $0 | |
Robin Bell-Stevens Vice-Preside | 5 | $0 | |
Jackie Harris Executive Di | 20 | $88,750 | |
Lisa Cohen Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $57,394 |
| Interest on Savings | $702 |
| Dividends & Interest | $585,113 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$283,992 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $80,946 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $2,209,955 |
| Total Revenue | $2,569,172 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $88,750 |
| Other employee salaries and wages | $22,500 |
| Pension plans, employee benefits | $9,360 |
| Interest | $0 |
| Taxes | $48,309 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $246,859 |
| Total operating and administrative expenses | $467,006 |
| Contributions, gifts, grants paid | $790,000 |
| Total expenses and disbursements | $1,257,006 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,495 |
| Savings and temporary cash investments | $94,730 |
| 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 | $100 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $652,281 |
| Total assets | $10,320,543 |
| Accounts payable and accrued expenses | $35,229 |
| 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 | $35,229 |
Grants Awarded
Over the last fiscal year, Louis Armstrong Educational Foundation Inc has awarded $790,000 in support to 25 organizations.
| Grant Recipient | Amount |
|---|---|
LOUIS ARMSTRONG HOUSE MUSEUM PURPOSE: GENERAL | $220,000 |
LOUIS SATCHMO ARMSTRONG SUMMER PURPOSE: GENERAL | $100,000 |
JAZZMOBILE INC PURPOSE: GENERAL | $90,000 |
ASCAP FOUNDATION PURPOSE: GENERAL | $75,000 |
NEW ORLEANS MUSICIANS' ASSIST FD PURPOSE: GENERAL | $45,000 |
MT SINAI BETH ISRAEL - LOUIS PURPOSE: GENERAL | $75,000 |