East Lake Foundation Inc
- Assets
- $70.0m
- Revenue
- $30.4m
- Investments
- $0.0
- Employees
- 14
- Location
- Atlanta, GA
- Founding
- 03/1996
- Data as of
- 12/2021
- EIN
- 58-2204306
Organization Overview
East Lake Foundation Inc is located in Atlanta, GA. The organization was established in 1996. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2021, East Lake Foundation Inc employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. East Lake 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 12/2021, East Lake Foundation Inc generated $30.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 18.9% each year . All expenses for the organization totaled $7.4m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, East Lake Foundation Inc has awarded 67 individual grants totaling $35,576,389. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE EAST LAKE FOUNDATION PROVIDES THE TOOLS FOR FAMILIES OF THE VILLAGES OF EAST LAKE AND STUDENTS OF DREW CHARTER SCHOOL TO BUILD A BETTER LIFE FOR THEMSELVES AND FUTURE GENERATIONS THROUGH EDUCATION, MIXED-INCOME HOUSING, AND COMMUNITY WELLNESS.
Describe the Organization's Program Activity:
STUDENT SUPPORT PROGRAM - PROVIDED AFTER SCHOOL PROGRAMS AND ADMINISTRATIVE SUPPORT TO STUDENTS OF DREW CHARTER SCHOOL AND EAST LAKE COMMUNITY.
RESIDENT AND COMMUNITY SUPPORT PROGRAM SUPPORTS THE FAMILIES IN THE EAST LAKE COMMUNITY THROUGH ECONOMIC STABILITY AND COMMUNITY ENGAGEMENT PROGRAMMING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daniel Shoy Jr Immediate Past President | OfficerTrustee | 40 | $222,049 |
Catherine H Woodling Secretary | Officer | 40 | $154,457 |
Meisha White Treasurer | Officer | 40 | $123,476 |
Chris Womack Chair | OfficerTrustee | 1 | $0 |
Alex Robertson Board Member | Trustee | 1 | $0 |
Cheryl Lomax Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $965,856 |
| Related organizations | $0 |
| Government grants | $167,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $29,131,980 |
| Noncash contributions included in lines 1a–1f | $22,756,146 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $30,264,836 |
| Total Program Service Revenue | $0 |
| Investment income | $219,863 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $143,349 |
| Net Income from Fundraising Events | -$219,115 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $30,410,500 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,325,190 |
| Grants and other assistance to domestic individuals. | $441,228 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $570,330 |
| Compensation of current officers, directors, key employees. | $80,172 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $227,657 |
| Pension plan accruals and contributions | $12,847 |
| Other employee benefits | $68,594 |
| Payroll taxes | $71,110 |
| Fees for services: Management | $8,815 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $49,710 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $35,990 |
| Fees for services: Other | $312,762 |
| Advertising and promotion | $28,495 |
| Office expenses | $162,180 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $220,100 |
| Travel | $11,898 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $159 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,358,749 |
| Insurance | $30,538 |
| All other expenses | $24,746 |
| Total functional expenses | $7,400,240 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,634,796 |
| Savings and temporary cash investments | $1,075,088 |
| Pledges and grants receivable | $2,157,272 |
| Accounts receivable, net | $194,816 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $500,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,200 |
| Net Land, buildings, and equipment | $55,007,014 |
| Investments—publicly traded securities | $9,427,558 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $69,998,744 |
| Accounts payable and accrued expenses | $271,872 |
| Grants payable | $1,500,000 |
| Deferred revenue | $0 |
| 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 | $138,375 |
| Total liabilities | $1,910,247 |
| Net assets without donor restrictions | $65,870,047 |
| Net assets with donor restrictions | $2,218,450 |
| 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 | $69,998,744 |
Grants Awarded
Over the last fiscal year, East Lake Foundation Inc has awarded $3,325,190 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
Atlanta, GA PURPOSE: OPERATIONAL SUPPORT | $2,129,674 |
Atlanta, GA PURPOSE: OPERATIONAL SUPPORT | $557,500 |
Atlanta, GA PURPOSE: OPERATIONAL SUPPORT | $225,000 |
Atlanta, GA PURPOSE: OPERATIONAL SUPPORT | $160,000 |
Atlanta, GA PURPOSE: OPERATIONAL SUPPORT | $100,000 |
Atlanta, GA PURPOSE: OPERATIONAL SUPPORT | $85,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that East Lake Foundation Inc has recieved totaling $15,000.
| Awarding Organization | Amount |
|---|---|
Aec Trust Wilmington, DE PURPOSE: SOUND LEARNING MUSIC EDUCATION COLLABORATIVE | $10,000 |
Beard-Payne Family Foundation Inc Atlanta, GA PURPOSE: REVITALIZE THE COMMUNITY | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Philanthropic Impact Foundation Nashville, TN | $919,847 | $18,241,201 |
Aston Park Health Care Center Inc Asheville, NC | $17,105,214 | $12,530,764 |
New Morning Foundation Columbia, SC | $9,598,750 | $10,587,010 |
University Of South Florida Institute Of Applied Engineering I Tampa, FL | $5,205,656 | $9,587,469 |
Swim Across America Inc Charlotte, NC | $6,654,266 | $9,920,780 |
The Legacy Foundation At Shell Point Inc Fort Myers, FL | $5,518,203 | $5,863,574 |
East Lake Foundation Inc Atlanta, GA | $69,998,744 | $30,410,500 |
Schoolseed Foundation Memphis, TN | $5,107,519 | $7,793,603 |
Scintilla Charter Academy Inc Valdosta, GA | $15,718,556 | $7,823,461 |
Tampa-Orlando-Pinellas Jewish Foundation Inc Tampa, FL | $66,534,235 | $10,949,791 |
Wellstar Foundation Inc Marietta, GA | $30,643,336 | $9,116,090 |
Chapters Health Foundation Inc Temple Terrace, FL | $14,703,109 | $7,254,901 |