Carl A Lemcool Memorial Foundation Inc
- Assets
- $1.2m
- Revenue
- $49.6k
- Investments
- $1.0m
- Employees
- 0
- Location
- Traverse City, MI
- Founding
- 02/1984
- Data as of
- 12/2021
- EIN
- 38-2491833
Organization Overview
Carl A Lemcool Memorial Foundation Inc is located in Traverse City, MI. The organization was established in 1984. According to its NTEE Classification (T11) the organization is classified as: Single Organization Support, 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. Carl A Lemcool Memorial 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 12/2021, Carl A Lemcool Memorial Foundation Inc generated $49.6k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.3% each year. All expenses for the organization totaled $79.4k during the year ending 12/2021. While expenses have increased by 7.0% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Carl A Lemcool Memorial Foundation Inc has awarded 15 individual grants totaling $156,918. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE THE CHARITABLE GIVING REQUIRED IN THE BYLAWS OF THE EXCHANGE CLUB OF TRAVERSE CITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION AWARDS GRANTS TO NOT-FOR-PROFIT ORGANIZATIONS THAT SERVE THE CHILDREN AND YOUTH OF THE GREATER GRAND TRAVERSE AREA. FOUR GRANTS WERE APPROVED IN 2018 FOR A TOTAL OF $29,625. THE GRANTS WERE PAID IN NOVEMBER AND DECEMBER OF 2018.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Raleigh Newman Director | 1 | $0 | |
Tyler Bartosh President | 1 | $0 | |
Grant Klaver Secretary | 1 | $0 | |
William Hemming Director | 1 | $0 | |
Aaron Mansfield Treasurer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $50,252 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$639 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $49,613 |
| 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 | $410 |
| Total operating and administrative expenses | $11,311 |
| Contributions, gifts, grants paid | $68,050 |
| Total expenses and disbursements | $79,361 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $133,449 |
| 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 | $1,039,324 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,172,773 |
| 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, Carl A Lemcool Memorial Foundation Inc has awarded $68,050 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
SINGLE MOMM PURPOSE: PROVIDED FUNDING FOR ENHANCEMENTS TO RV, TRAILER AND CARPORT IN ORDER TO SERVE RURAL COMMUNITIES AND FAMILIES. | $37,525 |
GRAND TRAVERSE CONSERVATION DISTRICT PURPOSE: PROVIDED AMOUNT AS MATCH TO HELP BUILD A BRIDGE, INSPIRE EXPLORATION, APPRECIATION AND CONSERVATION OF OUR NATURAL WORLD. | $25,000 |
DREAM TEAM PURPOSE: PROVIDED FUNDING IN SUPPORT OF 3 TEAMS, INCLUDING UNIFORMS AND EQUIPMENT. | $4,525 |
TCAPS STEP PROGRAM PURPOSE: PROVIDED AMOUNT IN SUPPORT OF CHILDREN IN ORDER TO SUPPORT SCHOOL STABILITY. | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
David And Inez Myers Foundation Cleveland, OH | $231,370,323 | $1,575,245 |
Block 3 Community Urban Redevelopment Corporation Cincinnati, OH | $43,753,173 | $7,948,144 |
Sally And John Morley Family Fund Cleveland, OH | $0 | $0 |
Foundation For The Uptown Reinvestment Corporation Flint, MI | $1,872,223 | $6,455,012 |
Dayton Foundation Plus Inc Dayton, OH | $83,505,101 | $9,971,050 |
Jcgf Charitable Tr Cincinnati, OH | $1,841,285 | $5,857,978 |
West Bend Community Foundation Inc Milwaukee, WI | $79,149,428 | $10,575,689 |
Arthur Dean Family Foundation Inc Fishers, IN | $75,273,545 | $2,866,490 |
Barberton Community Foundation Barberton, OH | $94,839,869 | $20,499,069 |
Star House Foundation Columbus, OH | $3,945,467 | $4,249,325 |
Jewish Fund Inc Bloomfield Hills, MI | $68,108,073 | $3,265,979 |
Foundation For Flint Flint, MI | $18,213,449 | $993,569 |