Laughing Gull Foundation
- Assets
- $59.2m
- Revenue
- $3.1m
- Investments
- $55.1m
- Employees
- 0
- Location
- Durham, NC
- Founding
- 02/2013
- Data as of
- 12/2023
- EIN
- 36-4749289
Organization Overview
Laughing Gull Foundation is located in Durham, NC. The organization was established in 2013. 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. Laughing Gull 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, Laughing Gull Foundation generated $3.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (10.1%) each year. All expenses for the organization totaled $7.5m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Laughing Gull Foundation has awarded 701 individual grants totaling $30,748,478. 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 |
|---|---|---|---|
Marjorie Owen Baesmith President | 15 | $0 | |
Emily Coward Secretary | 5 | $0 | |
Marjorie Williams Coward Chair | 5 | $0 | |
Sarah Schwartz Baesmith Treasurer | 5 | $0 | |
Latonya N Penny Executive Di | 40 | $192,600 | |
Hilary Rau Program Offi | 40 | $129,236 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $488,355 |
| Dividends & Interest | $1,209,482 |
| Net Rental Income | $10,632 |
| Net Gain on Sale of Assets | $1,402,298 |
| Capital Gain Net Income | $1,402,298 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $21,524 |
| Total Revenue | $3,132,291 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $467,607 |
| Pension plans, employee benefits | $93,854 |
| Interest | $0 |
| Taxes | $75,074 |
| Depreciation | $23,654 |
| Occupancy | $73,924 |
| Travel, conferences, and meetings | $68,238 |
| Printing and publications | $0 |
| Other expenses | $58,091 |
| Total operating and administrative expenses | $1,525,650 |
| Contributions, gifts, grants paid | $5,979,331 |
| Total expenses and disbursements | $7,504,981 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,747,510 |
| 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 | $1,100,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $2,500,792 |
| Net Land, buildings, and equipment | $165,332 |
| Other assets | $77,830 |
| Total assets | $59,203,248 |
| 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, Laughing Gull Foundation has awarded $5,979,331 in support to 123 organizations.
| Grant Recipient | Amount |
|---|---|
ACLU FOUNDATION OF NC PURPOSE: LGBTQ GOALS | $75,000 |
ACLU FOUNDATION OF NC PURPOSE: RACIAL EQUITY WORK | $10,000 |
ALABAMA PRISON ARTS EDUCATION PURPOSE: NCHEP | $1,800 |
ALLIANCE FOR HIGHER ED IN PRISON PURPOSE: GENERAL OPERATING SUPPORT | $80,000 |
ASHEVILLE-BUNCOMBE TECHNICAL PURPOSE: PLANNING FOR HEP PROGRAM | $61,800 |
APPALACHIAN VOICES PURPOSE: GENERAL OPERATING SUPPORT | $100,000 |