Gay And Erskine Love Foundation Inc
- Assets
- $234.6k
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Atlanta, GA
- Founding
- 08/1976
- Data as of
- 12/2022
- EIN
- 51-0198585
Organization Overview
Gay And Erskine Love Foundation Inc is located in Atlanta, GA. The organization was established in 1976. 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. Gay And Erskine Love 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 12/2022, Gay And Erskine Love Foundation Inc generated $1.5m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 30.6% each year . All expenses for the organization totaled $1.2m during the year ending 12/2022. While expenses have increased by 19.5% per year over the past 4 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.
Since 2020, Gay And Erskine Love Foundation Inc has awarded 94 individual grants totaling $2,797,390. 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
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOUNDATION DOES NOT ENGAGE IN DIRECT CHARITABLE ACTIVITES WITHIN THE MEANING OF SECTION 4942J3 AND RELATED REGULATIONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dennis M Love President | 0 | $0 | |
Dellmer B Seitter III Secretary | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,456,662 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,456,662 |
| 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 | $0 |
| Total operating and administrative expenses | $0 |
| Contributions, gifts, grants paid | $1,228,962 |
| Total expenses and disbursements | $1,228,962 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $234,637 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $234,637 |
| 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, Gay And Erskine Love Foundation Inc has awarded $1,228,962 in support to 32 organizations.
| Grant Recipient | Amount |
|---|---|
ATLANTA SPEECH SCHOOL PURPOSE: PAYMENT OF DONATION TRANSFORMS THE LIVES OF CHILDREN AND THE ADULTS THEY BECOME THROUGH RESEARCH-BASED PRACTICES INNOVATION ADVOCACY AND PARTNERSHIPS WITH OTHER ORGANIZATIONS SO THAT EACH CHILD AT THE ATLANTA SPEECH SCHOOL AND EVERY CHILD BEYOND THE CAMPUS CAN ACQUIRE THE LANGUAGE AND LITERACY FOUNDATION ESSENTIAL FOR DECIDING THEIR OWN FUTURE. | $33,328 |
CENTER FOR PUPPETRY ARTS PURPOSE: TO INSPIRE IMAGINATION EDUCATION AND COMMUNITY THROUGH THE GLOBAL ART OF PUPPETRY. | $10,000 |
BOY SCOUTS OF AMERICA ATLANTA AREA COUNCIL PURPOSE: PAYMENT OF DONATION TO SUPPORT MISSION OF BUILDING CHARACTER CITIZENSHIP AND PERSONAL FITNESS FOR YOUNG PEOPLE. | $30,000 |
GEORGIA TECH A-T FUND PURPOSE: PAYMENT OF DONATION TOWARDS GEORGIA MISSION TO CONTINUE PROVIDING SCHOLARSHIPS FOR STUDENT-ATHLETES WHILE PROMOTING THE WINNING TRADITION OF GT ATHLETICS. | $11,000 |
GEORGIA ALZHEIMER'S FOUNDATION PURPOSE: TO SUPPORT INNOVATIVE RESEARCH AND COMMUNITY SERVICES FOR THOSE AFFECTED BY ALZHEIMER'S DISEASE AND OTHER DEMENTIAS. | $6,000 |
EAST LAKE FOUNDATION PURPOSE: PAYMENT OF DONATION TO SUPPORT EAST LAKE FOUNDATION'S GOAL TO TRANSFORM EAST LAKE INTO A SAFE AND LIVELY COMMUNITY THROUGH THE COMBINATION OF MIXED-INCOME HOUSING AND INFRASTRUCTURE CRADLE-TO-COLLEGE EDUCATIONAL OPPORTUNITIES AND COMMUNITY WELLNESS ACTIVITIES. | $2,500 |