The Joe And Patty Lee Foundation
- Assets
- $827.6k
- Revenue
- $183.8k
- Investments
- $806.8k
- Employees
- 0
- Location
- Iowa City, IA
- Founding
- 03/2016
- Data as of
- 12/2021
- EIN
- 47-5527477
Organization Overview
The Joe And Patty Lee Foundation is located in Iowa City, IA. The organization was established in 2016. 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. Joe And Patty Lee 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 12/2021, Joe And Patty Lee Foundation generated $183.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (13.8%) each year. All expenses for the organization totaled $85.4k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Joe And Patty Lee Foundation has awarded 13 individual grants totaling $179,454. 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.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mackenzie Lee Jacobson Director | 1 | $0 | |
Patricia Lee President/treasurer | 1 | $0 | |
Connor Lee Director | 1 | $0 | |
Mason Lee Director | 1 | $0 | |
Joseph D Lee Vice-President/secretary | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $3,591 |
| Dividends & Interest | $25,842 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $154,359 |
| Capital Gain Net Income | $154,359 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $183,792 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $482 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $3 |
| Total operating and administrative expenses | $22,398 |
| Contributions, gifts, grants paid | $63,000 |
| Total expenses and disbursements | $85,398 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,588 |
| Savings and temporary cash investments | $17,281 |
| 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 | $103,758 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $827,637 |
| 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, The Joe And Patty Lee Foundation has awarded $63,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF IOWA CENTER FOR ADVANCEMENT PURPOSE: SAMANTHA CHINDERLE LEE/ JOE & PATTY LEE FOUNDATION SCHOLARSHIP | $28,000 |
UNIVERSITY OF IOWA CENTER FOR ADVANCEMENT PURPOSE: LEE LAB'S ENTREPRENEURIAL FUND | $25,000 |
Des Moines, IA PURPOSE: GENERAL OPERATING | $5,000 |
Des Moines, IA PURPOSE: GENERAL OPERATING | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Union Pacific Foundation Omaha, NE | $336,276 | $9,519,950 |
Genyouth Inc Rosemont, IL | $9,087,915 | $10,980,091 |
Anheuser-Busch Foundation Clayton, MO | $1,201,059 | $8,412,886 |
Sondheimer Family Charitable Foundation Wilmette, IL | $0 | $30,820 |
Illinois Tool Works Foundation Glenview, IL | $328,623 | $8,500,000 |
Willow Springs Charitable Tr Mt Carroll, IL | $100,115,931 | $21,339,853 |
Hamill Family Foundation Chicago, IL | $55,305,054 | $6,054,241 |
Steward Family Foundation St Louis, MO | $23,736 | $8,567,873 |
We Energies Foundation Inc Milwaukee, WI | $74,423,525 | $6,027,785 |
3m Foundation St Paul, MN | $11,832,463 | $7,120,220 |
Grand Victoria Foundation Chicago, IL | $167,134,023 | $22,046,260 |
Richard O Jacobson Foundation Inc Des Moines, IA | $24,841,991 | $13,826,505 |