Frank E & Miriam Loveman Foundation Inc
- Assets
- $9.5m
- Revenue
- $154.4k
- Investments
- $9.0m
- Employees
- 0
- Location
- Owings Mills, MD
- Founding
- 04/2013
- Data as of
- 12/2023
- EIN
- 46-1662450
Organization Overview
Frank E & Miriam Loveman Foundation Inc is located in Owings Mills, MD. 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. Frank E & Miriam Loveman 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 12/2023, Frank E & Miriam Loveman Foundation Inc generated $154.4k 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 (8.3%) each year. All expenses for the organization totaled $544.0k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (0.2%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Frank E & Miriam Loveman Foundation Inc has awarded 255 individual grants totaling $3,610,441. 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 |
|---|---|---|---|
Samuel T Cohen President / Treasurer | 2 | $0 | |
Robert A Rombro Secretary | 2 | $0 | |
Howard L Sollins Vice President | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $37,104 |
| Dividends & Interest | $137,739 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$33,639 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $13,150 |
| Total Revenue | $154,354 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $2,152 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,076 |
| Total operating and administrative expenses | $57,522 |
| Contributions, gifts, grants paid | $486,500 |
| Total expenses and disbursements | $544,022 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $108,621 |
| Savings and temporary cash investments | $407,931 |
| 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 | $11,554 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $9,485,400 |
| 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, Frank E & Miriam Loveman Foundation Inc has awarded $486,500 in support to 36 organizations.
| Grant Recipient | Amount |
|---|---|
ASSOCIATED PURPOSE: ISRAEL EMERGENCY FUND | $50,000 |
BALTIMORE MUSEUM OF ART PURPOSE: CAPITAL CAMPAIGN | $6,500 |
BALTIMORE CHESAPEAKE BAY OUTWARD BOUND SCHOOL PURPOSE: EDUCATION | $10,000 |
BALTIMORE SYMPHONY ORCHESTRA PURPOSE: EDUCATION | $4,000 |
BALTIMORE SYMPHONY ORCHESTRA - ORCH KIDS PURPOSE: EDUCATION | $10,000 |
BLAX LAX INC PURPOSE: SUPPORT LACROSSE PROGRAMS IN URBAN COMMUNITIES | $5,000 |