The Lynnwood Foundation
- Assets
- $21.4m
- Revenue
- $5.9m
- Investments
- $12.9m
- Employees
- 33
- Location
- Charlotte, NC
- Founding
- 12/1996
- Data as of
- 12/2021
- EIN
- 56-1987315
Organization Overview
The Lynnwood Foundation is located in Charlotte, NC. The organization was established in 1996. According to its NTEE Classification (A82) the organization is classified as: Historical Societies & Historic Preservation, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Lynnwood Foundation employed 33 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lynnwood 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, Lynnwood Foundation generated $5.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.7% each year. All expenses for the organization totaled $4.9m during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO OPERATE THE DUKE MANSION AS A HISTORIC INN AND COMMUNITY GATHERING PLACE FOR THE PURPOSE OF PRESERVING AND PROVIDING PUBLIC ACCESS AND ENGAGEMENT TO THE SITE AND ITS HISTORY AND TO OPERATE THE LEE INSTITUTE, WHICH AS THE ACTIVE PROGRAMMING ARM, WORKS TO SECURE THE FUTURE OF COMMUNITY LEADERSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE DUKE MANSION: THE PRESERVATION AND PROTECTION OF THE DUKE MANSION HAS CONTINUED WITH MAINTENANCE AND CAPITAL INVESTMENT OF THE HOUSE AND GROUNDS. THE DUKE MANSION SHOWCASES ITS HISTORY BY BEING OPEN TO THE COMMUNITY FOR ALL TYPES OF EVENTS AND THROUGH PERMANENT EXHIBITS. THE GARDENS ARE OPEN NEARLY EVERY DAY FOR VISITORS. IT ALSO PROVIDES ITS OWN ANNUAL PROGRAMMING FREE TO THE PUBLIC INCLUDING HISTORY LECTURES. DURING THE PANDEMIC, WE DID NOT PROVIDE OUR USUAL GUIDED GARDEN TOURS AND AN ANNUAL COMMUNITY-WIDE OPEN HOUSE.
THE LEE INSTITUTE: THE LEE INSTITUTE SERVES AND STRENGTHENS ORGANIZATIONS AND INDIVIDUALS WHO SHARE OUR COMMITMENT TO BUILDING GREAT COMMUNITIES. THE LEE INSTITUTE PROVIDED FACILITATION, CIVIC ENGAGEMENT, CONSULTING AND LEADERSHIP TRAINING TO NON-PROFITS, GOVERNMENTS AND COMMUNITY GROUPS LOCALLY, REGIONALLY AND STATEWIDE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cyndee Patterson President | Officer | 50 | $293,282 |
Lisa Guerriero CFO | Officer | 50 | $157,192 |
Chrystal Joy Director - Lee Institute | 50 | $138,102 | |
Rebecca Sagadin Gen Mgr - Duke Mansion (outgoing) | 50 | $102,459 | |
Rutherford Bryson III Treasurer | OfficerTrustee | 1.1 | $0 |
Mary Long Chairperson | OfficerTrustee | 1.3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Patricia Higgins Martin Fundraising | 12/30/21 | $122,604 |
Eurestcompass Group Usa Food Services | 12/30/21 | $1,098,473 |
Party Reflections Linen & Equipment Rentals | 12/30/21 | $112,291 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $288,149 |
| Related organizations | $0 |
| Government grants | $716,571 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,068,071 |
| Noncash contributions included in lines 1a–1f | $53,914 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,072,791 |
| Total Program Service Revenue | $3,778,211 |
| Investment income | $2 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $278 |
| Net Income from Fundraising Events | $9,472 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,860,754 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $478,154 |
| Compensation of current officers, directors, key employees. | $306,243 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,768,232 |
| Pension plan accruals and contributions | $34,764 |
| Other employee benefits | $157,232 |
| Payroll taxes | $161,054 |
| Fees for services: Management | $34,371 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $25,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $136,884 |
| Fees for services: Investment Management | $64,246 |
| Fees for services: Other | $163,426 |
| Advertising and promotion | $7,294 |
| Office expenses | $296,819 |
| Information technology | $72,242 |
| Royalties | $0 |
| Occupancy | $250,732 |
| Travel | $1,194 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,355 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $334,637 |
| Insurance | $81,342 |
| All other expenses | $141,120 |
| Total functional expenses | $4,863,525 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,338 |
| Savings and temporary cash investments | $1,432,674 |
| Pledges and grants receivable | $675,991 |
| Accounts receivable, net | $115,393 |
| 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 | $51,381 |
| Net Land, buildings, and equipment | $6,211,423 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $12,897,243 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $21,387,443 |
| Accounts payable and accrued expenses | $442,779 |
| Grants payable | $0 |
| Deferred revenue | $704,799 |
| 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 | $1,147,578 |
| Net assets without donor restrictions | $9,958,857 |
| Net assets with donor restrictions | $10,281,008 |
| 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 | $21,387,443 |
Grants Recieved
Over the last fiscal year, we have identified 11 grants that The Lynnwood Foundation has recieved totaling $350,908.
| Awarding Organization | Amount |
|---|---|
Dickson Foundation Inc Charlotte, NC PURPOSE: GENERAL SUPPORT | $150,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $76,500 |
Foundation For The Carolinas Charlotte, NC PURPOSE: CHARITABLE GIFT | $55,158 |
Foundation For The Carolinas Charlotte, NC PURPOSE: CHARITABLE GIFT | $42,150 |
United Way Of Greater Charlotte Charlotte, NC PURPOSE: PROGRAM OPERATING COSTS | $12,500 |
George W And Ruth R Baxter Foundation Inc Charlotte, NC PURPOSE: CIVIC, SCHOLARSHIP FUND | $5,000 |
Endowment Analysis
| Beg. Balance | $10,788,338 |
| Earnings | $1,509,750 |
| Admin Expense | -$64,246 |
| Net Contributions | $663,400 |
| Ending Balance | $12,897,242 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Maymont Foundation Richmond, VA | $38,971,207 | $5,423,725 |
The Lynnwood Foundation Charlotte, NC | $21,387,443 | $5,860,754 |
The Heritage Foundation Of Williamson County Tn Franklin, TN | $23,589,168 | $5,101,900 |
Classical American Homes Preservation Trust Hillsborough, NC | $132,123,539 | $8,113,151 |
Andrew Jackson Foundation Hermitage, TN | $11,010,285 | $4,320,645 |
Historic Columbia Foundation Inc Columbia, SC | $4,152,863 | $4,740,908 |
Memphis Chapter For Preservation Of Tennessee Antiquities Nashville, TN | $7,377,257 | $4,193,595 |
Georgia Historical Society Savannah, GA | $30,611,121 | $5,575,417 |
Coastal Heritage Society Inc Savannah, GA | $3,223,503 | $3,680,449 |
The George Washington Foundation Fredericksburg, VA | $39,220,156 | $2,847,343 |
Coastal Georgia Historical Society Inc St Simons Island, GA | $8,728,661 | $2,039,042 |
Preservation Society Of Charleston Charleston, SC | $9,215,770 | $2,455,681 |