Lift Foundation Inc
- Assets
- $243.6k
- Revenue
- $12.4k
- Investments
- $225.5k
- Employees
- 0
- Location
- Knoxville, TN
- Founding
- 09/2007
- Data as of
- 12/2023
- EIN
- 26-0644407
Organization Overview
Lift Foundation Inc is located in Knoxville, TN. The organization was established in 2007. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Lift 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, Lift Foundation Inc generated $12.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (6.2%) each year. All expenses for the organization totaled $10.1k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (14.7%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Lift Foundation Inc has awarded 107 individual grants totaling $256,448. 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.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Penny Sherwood President | 2 | $0 | |
Larry Sherwood Director | 2 | $0 | |
Stacey Hall Director | 2 | $0 | |
Steve Sherwood Director | 2 | $0 | |
Pam Sherwood Director | 2 | $0 | |
Jeff Hall Director | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $6,008 |
| Interest on Savings | $0 |
| Dividends & Interest | $6,233 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $112 |
| Capital Gain Net Income | $112 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $12,353 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $218 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $110 |
| Total operating and administrative expenses | $4,759 |
| Contributions, gifts, grants paid | $5,350 |
| Total expenses and disbursements | $10,109 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $18,071 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Other assets | $0 |
| Total assets | $243,587 |
| 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, Lift Foundation Inc has awarded $5,350 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
BROTHER'S KEEPER PURPOSE: CONTRIBUTION TO GENERAL FUND | $1,000 |
THE RIVER PURPOSE: CONTRIBUTION TO GENERAL FUND | $1,000 |
LEADERSHIP INSTITUTE PURPOSE: CONTRIBUTION TO GENERAL FUND | $100 |
JONATHAN WEEMS ADDICTION RECOVERY FUND PURPOSE: CONTRIBUTION TO GENERAL FUND | $1,000 |
FIRST BAPTIST CHURCH CONCORD PURPOSE: CONTRIBUTION TO GENERAL FUND | $1,000 |
PROVIDENCE ACADEMY SCHOLARSHIP FUND PURPOSE: CONTRIBUTION TO GENERAL FUND | $250 |