Lucille Lortel Foundation Inc
- Assets
- $22.3m
- Revenue
- $6.6m
- Investments
- $21.8m
- Employees
- 0
- Location
- New York, NY
- Founding
- 04/2005
- Data as of
- 06/2022
- EIN
- 13-3036521
Organization Overview
Lucille Lortel Foundation Inc is located in New York, NY. The organization was established in 2005. 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. Lucille Lortel 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 06/2022, Lucille Lortel Foundation Inc generated $6.6m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 42.1% each year . All expenses for the organization totaled $2.8m during the year ending 06/2022. While expenses have increased by 5.5% per year over the past 5 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, Lucille Lortel Foundation Inc has awarded 219 individual grants totaling $7,031,834. 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
THE FOUNDATION MAKES GENERAL OPERATING SUPPORT GRANTS TO NYC THEATRE COMPANIES, NYC THEATRE SERVICE ORGANIZATIONS, AND THE LUCILLE LORTEL THEATRE. IT ALSO MAKES PROGRAM SPECIFIC GRANTS TO NEW YORK STATE AND CONNECTICUT THEATRE COMPANIES. IN 2021, GRANT MAKING INCREASED IN DIRECT RESPONSE TO COVID-19.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Hecht President / Board Chairman | 2 | $0 | |
Matthew Clarke Treasurer / Director | 2 | $0 | |
Ira Gilbert Secretary / Director | 2 | $0 | |
George Forbes VP / Executive Director | 30 | $137,597 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $100 |
| Interest on Savings | $0 |
| Dividends & Interest | $401,089 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $6,226,708 |
| Capital Gain Net Income | $6,226,708 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $2 |
| Total Revenue | $6,627,899 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $137,597 |
| Other employee salaries and wages | $57,595 |
| Pension plans, employee benefits | $51,298 |
| Interest | $0 |
| Taxes | $20,883 |
| Depreciation | $1,364 |
| Occupancy | $89,806 |
| Travel, conferences, and meetings | $301 |
| Printing and publications | $0 |
| Other expenses | $12,652 |
| Total operating and administrative expenses | $648,788 |
| Contributions, gifts, grants paid | $2,150,000 |
| Total expenses and disbursements | $2,798,788 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $463,558 |
| 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 | $5,000 |
| Net Land, buildings, and equipment | $2,358 |
| Other assets | $8,750 |
| Total assets | $22,312,648 |
| Accounts payable and accrued expenses | $3,204 |
| 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 | $3,204 |
Grants Awarded
Over the last fiscal year, Lucille Lortel Foundation Inc has awarded $2,150,000 in support to 85 organizations.
| Grant Recipient | Amount |
|---|---|
ENTERTAINMENT COMMUNITY FUND (FKA THE ACTORS FUND ) PURPOSE: UNRESTRICTED CHARITABLE PURPOSES | $1,000 |
ALLIANCE OF RESIDENCE THEATRES PURPOSE: UNRESTRICTED CHARITABLE PURPOSES | $1,000 |
AMAS MUSICAL THEATRE INC PURPOSE: UNRESTRICTED CHARITABLE PURPOSES | $1,500 |
ARS NOVA THEATER I INC PURPOSE: UNRESTRICTED CHARITABLE PURPOSES | $3,500 |
AMERICAN INDIAN ARTIST AMERINDA INC PURPOSE: UNRESTRICTED CHARITABLE PURPOSES | $3,500 |
ATLANTIC THEATER COMPANY PURPOSE: UNRESTRICTED CHARITABLE PURPOSES | $7,500 |