Lyford Cay Foundation Inc
- Assets
- $33.4m
- Revenue
- $3.0m
- Investments
- $2.5m
- Employees
- 0
- Location
- Greenwich, CT
- Founding
- 07/1969
- Data as of
- 12/2023
- EIN
- 23-7025275
Organization Overview
Lyford Cay Foundation Inc is located in Greenwich, CT. The organization was established in 1969. According to its NTEE Classification (T90) the organization is classified as: Named Trusts N.E.C., 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. Lyford Cay 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 12/2023, Lyford Cay Foundation Inc generated $3.0m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (2.2%) each year. All expenses for the organization totaled $2.1m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (2.2%) per year over the past 9 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Lyford Cay Foundation Inc has awarded 330 individual grants totaling $5,674,013. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION PROVIDES ACADEMIC AND TECHNICAL TRAINING & VOCATIONAL SCHOLARSHIPS FOR DESERVING BAHAMIAN STUDENTS ATTENDING COLLEGES, UNIVERSITIES AND OTHER EDUCATIONAL INSTITUTIONS INTERNATIONALLY. FOR THE FISCAL YEAR 2023, THIRTY-TWO (32) SCHOLARSHIPS WERE GRANTED TO TWENTY-NINE (29) INSTITUTIONS, TOTALING $424,000.
SPECIAL PROJECTS AND VOLUNTEER PROGRAMME
THE FOUNDATION PROVIDES GRANTS TO NOT-FOR-PROFIT ORGANIZATIONS THAT SEEK TO IMPROVE THE GENERAL EDUCATION, HEALTH AND WELFARE OF THE COMMUNITIES THAT THEY SERVE. IN 2023, GRANTS WERE MADE TO FIFTEEN (15) ORGANIZATIONS, TOTALING $126,000.
THE FOUNDATION PROVIDES AN EDUCATION INITIATIVE, F.O.C.U.S., WHICH IS AN EIGHT-YEAR SCHOOL ENRICHMENT PROGRAMME DESIGNED TO SET UNDER-RESOURCED STUDENTS ON A PATH TO COLLEGE AND CAREER SUCCESS THROUGH WEEKEND AND SUMMER CLASSES. IN 2023, THE PROGRAMME HOSTED TWO HUNDRED FORTY-TWO (242) STUDENTS, FOR A TOTAL COST OF $539,894.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mr Basil P Goulandris Chair | OfficerTrustee | 7 | $0 |
Mrs Sarah A Farrington Vice Chair | OfficerTrustee | 5 | $0 |
Mr Jeffrey A Everett President | OfficerTrustee | 1 | $0 |
Mr John T Crone IV Treasurer | OfficerTrustee | 5 | $0 |
Mr E Parker Neave Secretary | OfficerTrustee | 5 | $0 |
Lady Camille Barnett Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,373,292 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,373,292 |
| Total Program Service Revenue | $0 |
| Investment income | $741,753 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$335,895 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,952,047 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $246,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $335,262 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $653,139 |
| Pension plan accruals and contributions | $10,282 |
| Other employee benefits | $48,001 |
| Payroll taxes | $13,997 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $16,269 |
| Fees for services: Accounting | $55,387 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $159,219 |
| Fees for services: Other | $0 |
| Advertising and promotion | $85,491 |
| Office expenses | $49,416 |
| Information technology | $87,556 |
| Royalties | $0 |
| Occupancy | $45,994 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $15,725 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $8,856 |
| All other expenses | $0 |
| Total functional expenses | $2,058,168 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,004,165 |
| Savings and temporary cash investments | $478,530 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $256,893 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $34,939 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $28,201,812 |
| Investments—other securities | $2,458,820 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $33,435,159 |
| Accounts payable and accrued expenses | $160,470 |
| Grants payable | $17,553 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $178,023 |
| Net assets without donor restrictions | $30,603,025 |
| Net assets with donor restrictions | $2,654,111 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $33,435,159 |
Grants Awarded
Over the last fiscal year, Lyford Cay Foundation Inc has awarded $236,750 in support to 18 organizations.
| Grant Recipient | Amount |
|---|---|
AVERETT UNIVERSITY PURPOSE: SCHOLARSHIP ASSISTANCE FOR POST-SECONDARY EDUCATION | $15,000 |
DUKE UNIVERSITY PURPOSE: SCHOLARSHIP ASSISTANCE FOR POST-SECONDARY EDUCATION | $15,000 |
EMBRY-RIDDLE AERONAUTICAL UNIVERSITY PURPOSE: SCHOLARSHIP ASSISTANCE FOR POST-SECONDARY EDUCATION | $15,000 |
FLORIDA SOUTHERN COLLEGE PURPOSE: SCHOLARSHIP ASSISTANCE FOR POST-SECONDARY EDUCATION | $15,000 |
HARTWICK COLLEGE PURPOSE: SCHOLARSHIP ASSISTANCE FOR POST-SECONDARY EDUCATION | $15,000 |
JOHNSON & WALES UNIVERSITY PURPOSE: SCHOLARSHIP ASSISTANCE FOR POST-SECONDARY EDUCATION | $15,000 |