Frank S Lucente Foundation
- Assets
- $709.8k
- Revenue
- $34.2k
- Investments
- $454.7k
- Employees
- 0
- Location
- Somerset, PA
- Founding
- 07/1998
- Data as of
- 12/2022
- EIN
- 23-7949281
Organization Overview
Frank S Lucente Foundation is located in Somerset, PA. The organization was established in 1998. 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. Frank S Lucente 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, Frank S Lucente Foundation generated $34.2k in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 8.2% each year. All expenses for the organization totaled $50.1k during the year ending 12/2022. While expenses have increased by 4.1% per year over the past 4 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 2019, Frank S Lucente Foundation has awarded 51 individual grants totaling $152,000. 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 |
|---|---|---|---|
Frank E Lucente Trustee | 0 | $0 | |
Name Not Listed Trustee | 0 | $6,003 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $2,812 |
| Dividends & Interest | $14,967 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $16,372 |
| Capital Gain Net Income | $16,372 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $34,151 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $6,003 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $170 |
| Total operating and administrative expenses | $7,193 |
| Contributions, gifts, grants paid | $42,900 |
| Total expenses and disbursements | $50,093 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $22,336 |
| 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 | $8,489 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $232,750 |
| Total assets | $709,819 |
| 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, Frank S Lucente Foundation has awarded $42,900 in support to 13 organizations.
| Grant Recipient | Amount |
|---|---|
MEYERSDALE BOROUGH PURPOSE: PROMOTE COMMUNITY PROGRAMS & SAFETY | $4,290 |
COMMUNITY FOUNDATION FOR THE ALLEG PURPOSE: EDUCATIONAL SCHOLARSHIP | $7,000 |
MEYERSDALE PUBLIC LIBRARY PURPOSE: PROMOTE LITERACY THROUGH READING | $4,290 |
MEYERSDALE VOLUNTEER FIRE PURPOSE: PROMOTE PUBLIC SAFETY | $2,145 |
MEYERSDALE AREA AMBULANCE PURPOSE: PROMOTE EMERGENCY HEALTH CARE TRANS. | $2,145 |
ST PHILIP JAMES CHURCH PURPOSE: PROMOTE RELIGIOUS ACTIVITIES | $4,290 |