Loats Foundation Inc
- Assets
- $4.3m
- Revenue
- $1.1m
- Investments
- $4.3m
- Employees
- 0
- Location
- Frederick, MD
- Founding
- 03/1950
- Data as of
- 05/2022
- EIN
- 52-0610535
Organization Overview
Loats Foundation Inc is located in Frederick, MD. The organization was established in 1950. 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. Loats 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 05/2022, Loats Foundation Inc generated $1.1m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 37.9% each year . All expenses for the organization totaled $243.8k during the year ending 05/2022. While expenses have increased by 1.0% per year over the past 5 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, Loats Foundation Inc has awarded 54 individual grants totaling $766,000. 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
THE LOATS FOUNDATION MAKES CONTRIBUTIONS TO VARIOUS NON- PROFIT ORGANIZATIONS AND CONTRIBUTES SCHOLARSHIP FUNDS TO COLLEGE AND UNIVERSITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rev Paul Baglyos President | 0 | $0 | |
Kathleen A Costlow Director | 0 | $0 | |
Lorraine M B Prete Resident Age | 0 | $0 | |
K Alan Perdue Director | 0 | $0 | |
Helen G Hahn Secretary | 0 | $0 | |
C Richard Miller Jr Treasurer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $398 |
| Dividends & Interest | $120,766 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $994,885 |
| Capital Gain Net Income | $994,885 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,116,049 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $2,001 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,687 |
| Total operating and administrative expenses | $28,814 |
| Contributions, gifts, grants paid | $215,000 |
| Total expenses and disbursements | $243,814 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $49,252 |
| 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 | $4,323,329 |
| 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, Loats Foundation Inc has awarded $215,000 in support to 14 organizations.
| Grant Recipient | Amount |
|---|---|
FREDERICK COMM COLLEGE FNDN INC PURPOSE: PROVIDE SCHOLARSHIPS & SUPPORT ORG | $69,000 |
HOOD COLLEGE PURPOSE: PROVIDE SCHOLARSHIP FUNDING | $23,000 |
FROSTBURG STATE UNIVERSITY FNDN INC PURPOSE: PROVIDE SCHOLARSHIP FUNDING | $22,000 |
Westminster, MD PURPOSE: PROVIDE SCHOLARSHIP FUNDING | $14,000 |
MOTHER SETON SCHOOL PURPOSE: PROVIDE SCHOLARSHIP FUNDING | $14,000 |
WEE FOLK SCHOOL PURPOSE: PROVIDE SCHOLARSHIP FUNDING | $13,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Msi-Us Washington, DC | $1,301,607 | $71,292,993 |
Oberkotter Foundation Philadelphia, PA | $83,021,123 | $23,009,013 |
Pnc Foundation Pittsburgh, PA | $218,373,148 | $3,451,991 |
Peter Alfond Foundation Bethesda, MD | $78,752,550 | $129,307,233 |
Bhp Foundation Washington, DC | $309,092,778 | $68,102,954 |
Wyss Medical Foundation Inc Washington, DC | $41,278,790 | $827,503 |
Service Coordination Inc Frederick, MD | $19,156,790 | $52,158,150 |
Sarah Scaife Foundation Inc Pittsburgh, PA | $645,014,499 | $79,121,296 |
Claws Foundation Reston, VA | $37,055,234 | $1,734,426 |
J Howard Pew Freedom Tr Philadelphia, PA | $675,828,558 | $64,346,772 |
J Willard And Alice S Marriott Foundation Bethesda, MD | $441,340,618 | $31,840,539 |
Mccune Foundation Pittsburgh, PA | $180,488,577 | $38,182,239 |