Lute Family Foundation Inc
- Assets
- $683.7k
- Revenue
- $22.5k
- Investments
- $640.5k
- Employees
- 0
- Location
- Ogallala, NE
- Founding
- 02/2002
- Data as of
- 12/2023
- EIN
- 47-0785813
Organization Overview
Lute Family Foundation Inc is located in Ogallala, NE. The organization was established in 2002. According to its NTEE Classification (N99) the organization is classified as: Recreation & Sports N.E.C., under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lute Family 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, Lute Family Foundation Inc generated $22.5k 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 (21.2%) each year. All expenses for the organization totaled $71.4k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (13.4%) per year over the past 9 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Lute Family Foundation Inc has awarded 76 individual grants totaling $1,261,687. 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 |
|---|---|---|---|
Richard M Bourque Director/man | 15 | $0 | |
James Korth Director | 1 | $0 | |
Kathy Lute Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $532 |
| Dividends & Interest | $21,200 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $794 |
| Capital Gain Net Income | $794 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $22,526 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,861 |
| Depreciation | $14,174 |
| Occupancy | $14,593 |
| Travel, conferences, and meetings | $2,081 |
| Printing and publications | $186 |
| Other expenses | $0 |
| Total operating and administrative expenses | $57,020 |
| Contributions, gifts, grants paid | $14,361 |
| Total expenses and disbursements | $71,381 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $19,414 |
| 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 | $24,616 |
| Net Land, buildings, and equipment | $16,692 |
| Other assets | $7,125 |
| Total assets | $683,727 |
| 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, Lute Family Foundation Inc has awarded $14,361 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
BIG MAC SPORTS CLUB PURPOSE: PROVIDE FUNDS FOR COMMUNITY SUPPORT | $750 |
ST LUKES SCHOOL PURPOSE: PROVIDED TICKETS FOR RAFFLE | $503 |
LIED CENTER FOR PERFORMING ARTS PURPOSE: PROVIDED FUNDS FOR COMMUNITY SUPPORT | $3,190 |
OGALLALA VOLUNTEER FIRE DEPARTMENT PURPOSE: PROVIDED TICKETS FOR RAFFLE | $1,180 |
ROTARY CLUB OF OGALLALA PURPOSE: PROVIDE FUNDS FOR COMMUNITY SUPPORT | $500 |
OGALLALA PUBLIC SCHOOL FOUNDATION PURPOSE: PROVIDED FUNDS FOR ATHLETICS | $5,000 |