Dr Lanse T Fox Memorial Organization
- Assets
- $277.9k
- Revenue
- $253.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Laredo, TX
- Founding
- 08/2014
- Data as of
- 12/2023
- EIN
- 47-1421061
Organization Overview
Dr Lanse T Fox Memorial Organization is located in Laredo, TX. The organization was established in 2014. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Dr Lanse T Fox Memorial Organization 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, Dr Lanse T Fox Memorial Organization generated $253.6k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 30.1% each year . All expenses for the organization totaled $37.2k during the year ending 12/2023. While expenses have increased by 0.4% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
OUR MISSION IS TO HOST EVENTS TO RAISE FUNDS FOR ACADEMIC SCHOLARSHIPS FOR STUDENTS ATTENDING COLLEGE AND VETERINARY SCHOOL, PRIMARILY AT ROSS UNIVERSITY SCHOOL OF VETERINARY MEDICINE. OUR NONPROFITS NAMESAKE, DR. LANSE T. FOX, WAS A GRADUATE OF RUSVM AND OWED MUCH OF HIS LIFE EXPERIENCE AND SUCCESS TO HIS TIME THERE, AND OUR GOAL IS TO HELP OTHER STUDENTS REALIZE THEIR DREAMS OF GOING TO SCHOOL THERE AND BECOMING VETERINARIANS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WE HAVE ESTABLISHED AN ENDOWED SCHOLARSHIP WITH THE EMPOWER SCHOLARSHIP FUND, WHICH IS THE FOUNDATION THAT HOUSES SCHOLARSHIP FUNDS BENEFITTING STUDENTS ATTENDING RUSVM. WE HAVE ALSO PROVIDED NUMEROUS LOCAL SCHOLARSHIPS FOR STUDENTS ATTENDING UNIVERSITY, COMMUNITY COLLEGE, AND TRADE SCHOOL FROM KAUFMAN HIGH SCHOOL, WHERE LANSE GRANDUATED FROM IN 2004, AND COTULLA HIGH SCHOOL, WHERE WE NOW HAVE OUR LARGEST FUNDRAISER AND LANSE HAD MANY FRIENDS.
WE HAVE ESTABLISHED A SECOND ENDOWED SCHOLARSHIP FUND. THIS FUND WAS ESTABLISHED AT THE LAREDO AREA COMMUNITY FOUNDATION, AND IT WILL DISBURSE SCHOLARSHIPS FOR STUDENTS GRADUATING FROM COTULLA HIGH SCHOOL. WE ARE ALREADY THE LARGEST SCHOLARSHIP GIVER AT CHS GRADUATION EACH YEAR, AND THE ESTABLISHMENT AND GROWTH OF OUR ENDOWMENT AT LACF WILL ENSURE THAT OUR SCHOLARSHIPS WILL BE DISBURSED THERE IN PERPETUITY. THIS ENDOWMENT FUND IS SCHEDULED TO DISBURSE FOR THE FIRST TIME IN 2025.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles K Coleman Executive Vi | Officer | 2.5 | $0 |
Keith W Franklin President | Officer | 5 | $0 |
Roy Franklin VP Of Commun | Officer | 2.5 | $0 |
Jason Hart Vice Pres Of | Officer | 2.5 | $0 |
John Stachniak Secretary | Officer | 2.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $40 |
| Fundraising events | $199,399 |
| Related organizations | $0 |
| Government grants | $2,127 |
| All other contributions, gifts, grants, and similar amounts not included above | $46,515 |
| Noncash contributions included in lines 1a–1f | $80,979 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $248,081 |
| Total Program Service Revenue | $0 |
| Investment income | $33 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $5,489 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $253,603 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $36,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,005 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $243 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $37,248 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $277,881 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $277,881 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $277,881 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $277,881 |