Lavin Family Foundation
- Assets
- $45.3m
- Revenue
- $2.0m
- Investments
- $41.1m
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 11/1964
- Data as of
- 12/2022
- EIN
- 36-6106074
Organization Overview
Lavin Family Foundation is located in Chicago, IL. The organization was established in 1964. 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. Lavin Family 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, Lavin Family Foundation generated $2.0m 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 $5.3m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (0.9%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Lavin Family Foundation has awarded 660 individual grants totaling $46,159,695. 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 |
|---|---|---|---|
Carol Bernick President And Treasurer | 0.5 | $0 | |
Elizabeth Huber Vice President And Secreta | 0.5 | $0 | |
Karen S Lavin Vice President | 0.5 | $0 | |
Craig L Bernick Vice President | 0.5 | $0 | |
Peter A Bernick Treasurer | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Merrill Lynch | 12/30/22 | $291,461 |
Ares | 12/30/22 | $114,317 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $5,000 |
| Interest on Savings | $82,430 |
| Dividends & Interest | $567,906 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,663,623 |
| Capital Gain Net Income | $2,075,795 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | -$1,305,063 |
| Total Revenue | $2,013,896 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $128,056 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $162 |
| Total operating and administrative expenses | $582,346 |
| Contributions, gifts, grants paid | $4,704,600 |
| Total expenses and disbursements | $5,286,946 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,176,488 |
| 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 | $11,933,308 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $2,000,000 |
| Total assets | $45,261,984 |
| 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, Lavin Family Foundation has awarded $4,704,600 in support to 69 organizations.
| Grant Recipient | Amount |
|---|---|
ANDREW C LANGERT FAMILY FOUNDATION PURPOSE: GENERAL OPERATIONS | $5,000 |
ANDREW C LANGERT FAMILY FOUNDATION PURPOSE: GENERAL OPERATIONS | $1,000,000 |
AMERICAN CANCER SOCIETY PURPOSE: GENERAL OPERATIONS | $10,000 |
ANTI-DEFAMATION LEAGUE PURPOSE: GENERAL OPERATIONS | $5,000 |
BOYS & GIRLS CLUB OF CHICAGO PURPOSE: ANNUAL SUMMER BALL | $25,000 |
CAST WATER SAFETY FOUNDATION PURPOSE: GENERAL OPERATIONS | $125,000 |