Lionel Richie Foundation
- Assets
- $12.9k
- Revenue
- $7.1k
- Investments
- $9.5k
- Employees
- 0
- Location
- Los Angeles, CA
- Founding
- 10/2010
- Data as of
- 12/2023
- EIN
- 27-3522456
Organization Overview
Lionel Richie Foundation is located in Los Angeles, CA. The organization was established in 2010. 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. Lionel Richie 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 12/2023, Lionel Richie Foundation generated $7.1k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 7.5% each year. All expenses for the organization totaled $11.2k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lionel Richie President | 0 | $0 | |
Milton C Davis Vice President | 0 | $0 | |
Ronald E Nash Secretary/treasurer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $7,129 |
| Total Revenue | $7,129 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $478 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $163 |
| Total operating and administrative expenses | $641 |
| Contributions, gifts, grants paid | $10,592 |
| Total expenses and disbursements | $11,233 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,561 |
| 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 | $9,454 |
| Net Land, buildings, and equipment | $881 |
| Other assets | $0 |
| Total assets | $12,896 |
| 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, Lionel Richie Foundation has awarded $10,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
SHERIFF'S YOUTH FOUNDATION OF LOS ANGELES COUNTY PURPOSE: CONTRIBUTION TO SUPPORT THEIR YOUTH PROGRAMS | $5,000 |
VETERANS FOR AMERICA PURPOSE: TO SUPPORT CHARITABLE ORGANIZATION THAT PROVIDES ASSISTANCE TO HOMELESS VETERANS IN THE SOUTHERN CALIFORNIA AREA | $5,000 |