Lawrence T Babbio Jr Foundation
- Assets
- $5.6m
- Revenue
- $27.6k
- Investments
- $5.1m
- Employees
- 0
- Location
- Albany, NY
- Founding
- 06/2014
- Data as of
- 12/2023
- EIN
- 46-1601552
Organization Overview
Lawrence T Babbio Jr Foundation is located in Albany, NY. The organization was established in 2014. According to its NTEE Classification (T99) the organization is classified as: Philanthropy, Voluntarism & Grantmaking Foundations N.E.C., 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. Lawrence T Babbio Jr 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, Lawrence T Babbio Jr Foundation generated $27.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (53.7%) each year. All expenses for the organization totaled $904.7k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2022, Lawrence T Babbio Jr Foundation has awarded 34 individual grants totaling $1,255,200. 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
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lawrence T Babbio Jr Trustee | 1 | $0 | |
Lawrence T Babbio III Trustee | 1 | $0 | |
Robyn Babbio Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $4,937 |
| Dividends & Interest | $163,524 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$140,897 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $27,564 |
| 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 | $250 |
| Total operating and administrative expenses | $37,453 |
| Contributions, gifts, grants paid | $867,200 |
| Total expenses and disbursements | $904,653 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $534,932 |
| 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 | $900,285 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $5,590,227 |
| 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, Lawrence T Babbio Jr Foundation has awarded $867,200 in support to 17 organizations.
| Grant Recipient | Amount |
|---|---|
COLLEGIATE SCHOOL PURPOSE: GENERAL CHARITABLE PURPOSES | $70,000 |
LOYOLA UNIVERSITY PURPOSE: GENERAL CHARITABLE PURPOSES | $25,000 |
GETTYSBURG COLLEGE PURPOSE: GENERAL CHARITABLE PURPOSES | $25,000 |
METROPOLITAN MUSEUM OF ART PURPOSE: GENERAL CHARITABLE PURPOSES | $1,000 |
SAINT PETER'S PREPARATORY SCHOOL PURPOSE: GENERAL CHARITABLE PURPOSES | $152,500 |
AMERICAN MUSEUM OF NATURAL HISTORY PURPOSE: GENERAL CHARITABLE PURPOSES | $1,000 |