Larsen Foundation Inc
- Assets
- $2.3m
- Revenue
- $1.0m
- Investments
- $2.3m
- Employees
- 0
- Location
- Morristown, NJ
- Founding
- 11/1996
- Data as of
- 09/2023
- EIN
- 31-1482756
Organization Overview
Larsen Foundation Inc is located in Morristown, NJ. The organization was established in 1996. 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. Larsen 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 09/2023, Larsen Foundation Inc generated $1.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (9.7%) each year. All expenses for the organization totaled $1.6m during the year ending 09/2023. As we would expect to see with falling revenues, expenses have declined by (2.7%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Larsen Foundation Inc has awarded 45 individual grants totaling $6,148,751. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dorothy M Larsen President/trustee | 0 | $0 | |
Garret W Larsen Co-Vice President/trustee | 0 | $0 | |
Karen Larsen Verblaauw Co-Vice President/trustee | 0 | $0 | |
Kristen Larsen Dries Co-Vice President/trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $179,065 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $835,753 |
| Capital Gain Net Income | $881,488 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,014,818 |
| 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 | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $3,000 |
| Contributions, gifts, grants paid | $1,633,111 |
| Total expenses and disbursements | $1,636,111 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | -$2 |
| Savings and temporary cash investments | $73,665 |
| 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 | $2,338,366 |
| 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, Larsen Foundation Inc has awarded $1,633,111 in support to 14 organizations.
| Grant Recipient | Amount |
|---|---|
CHO YEH CAMP PURPOSE: GENERAL SUPPORT | $680,000 |
DEERFRONT LODGE CHRISTIAN CAMP PURPOSE: GENERAL SUPPORT | $50,000 |
COMMUNITY HEALTH CARE CENTER PURPOSE: GENERAL SUPPORT | $200 |
GOSPEL VOLUNTEERS PURPOSE: GENERAL SUPPORT | $72,111 |
LEGACY FOUNDATION AT SHELL POINT PURPOSE: GENERAL SUPPORT | $1,300 |
HOUGHTON COLLEGE PURPOSE: GENERAL SUPPORT | $5,000 |