Drs Bruce & Lee Foundation
- Assets
- $212.3m
- Revenue
- $7.3m
- Investments
- $178.9m
- Employees
- 0
- Location
- Florence, SC
- Founding
- 08/2001
- Data as of
- 12/2022
- EIN
- 57-0902483
Organization Overview
Drs Bruce & Lee Foundation is located in Florence, SC. The organization was established in 2001. 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. Drs Bruce & 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 12/2022, Drs Bruce & Lee Foundation generated $7.3m in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (1.2%) each year. All expenses for the organization totaled $6.4m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Drs Bruce & Lee Foundation has awarded 122 individual grants totaling $39,461,785. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
C Edward Floyd MD Chairman/trustee | 6 | $31,200 | |
John L Bruce Jr DMD Vice Chairman/trustee | 6 | $31,200 | |
Mark W Buyck Jr Secretary/trustee | 6 | $31,200 | |
Gordon B Baker Jr Trustee | 5 | $30,000 | |
Coleman Floyd Buckhouse MD Trustee | 5 | $30,000 | |
Frank B Lee Jr MD Trustee | 5 | $30,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Willcox Buyck & Williams Pa | 12/30/22 | $61,240 |
Primrose Ventures Llc | 12/30/22 | $97,236 |
Prv Commercial Llc | 12/30/22 | $52,513 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $4,272,576 |
| Net Rental Income | $609,656 |
| Net Gain on Sale of Assets | $1,932,189 |
| Capital Gain Net Income | $2,064,985 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $63,502 |
| Total Revenue | $7,254,737 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $517,475 |
| Other employee salaries and wages | $73,202 |
| Pension plans, employee benefits | $172,684 |
| Interest | $0 |
| Taxes | $150,750 |
| Depreciation | $145,166 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $22,019 |
| Printing and publications | $0 |
| Other expenses | $267,323 |
| Total operating and administrative expenses | $1,979,636 |
| Contributions, gifts, grants paid | $4,414,818 |
| Total expenses and disbursements | $6,394,454 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $768,859 |
| Savings and temporary cash investments | $3,115,427 |
| Net Accounts receivable | $22,277 |
| 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 | $40,390 |
| Net Investments - land, buildings, equipment | $5,199,807 |
| Investments—mortgage loans | $0 |
| Investments—other | $178,938,647 |
| Net Land, buildings, and equipment | $3,643 |
| Other assets | $24,212,837 |
| Total assets | $212,301,887 |
| Accounts payable and accrued expenses | $421,860 |
| Grants payable | $4,971,701 |
| Deferred revenue | $599,379 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $510,000 |
| Total liabilities | $6,502,940 |
Grants Awarded
Over the last fiscal year, Drs Bruce & Lee Foundation has awarded $11,289,593 in support to 32 organizations.
| Grant Recipient | Amount |
|---|---|
ALLIANCE FOR A HEALTHIER SOUTH CAROLINA PURPOSE: GENERAL SUPPORT | $2,000 |
AMERICAN BATTLEFIELD TRUST PURPOSE: PRESERVE BATTLEGROUNDS | $200,000 |
AMERICAN RED CROSS PURPOSE: GENERAL SUPPORT | $30,000 |
ARTFIELDS (LAKE CITY CREATIVE ALLIANCE) PURPOSE: GENERAL SUPPORT | $16,000 |
BOYS AND GIRLS CLUBS OF PEE DEE AREA PURPOSE: GYM, ROOF, AND KITCHEN IMPROVEMENTS | $100,000 |
CITY OF FLORENCE PURPOSE: 833 AND 825 CHURCH ST | $71,515 |