Dr M Lee Pearce Foundation Inc
- Assets
- $37.1m
- Revenue
- $20.7m
- Investments
- $37.1m
- Employees
- 0
- Location
- Miami Beach, FL
- Founding
- 01/1985
- Data as of
- 12/2022
- EIN
- 59-2424272
Organization Overview
Dr M Lee Pearce Foundation Inc is located in Miami Beach, FL. The organization was established in 1985. 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. Dr M Lee Pearce 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, Dr M Lee Pearce Foundation Inc generated $20.7m in total revenue. All expenses for the organization totaled $1.3m during the year ending 12/2022. While expenses have increased by 11.3% per year over the past 8 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, Dr M Lee Pearce Foundation Inc has awarded 21 individual grants totaling $1,996,000. 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
NOT APPLICABLE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles Douglas Chairman, President & Director | 6 | $21,500 | |
Robert Potts Vice President & Director | 3 | $14,000 | |
Michael Carpenter Executive Vice President & Director | 3 | $14,000 | |
Yulieth Franco Director | 2 | $9,000 | |
Jeffrey Bolton Director | 2 | $9,000 | |
Tatjana Rundek Director | 2 | $8,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
General Health Corp | 12/30/22 | $112,000 |
Russell Investments | 12/30/22 | $101,542 |
Sidley Austin Llp | 12/30/22 | $173,717 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $20,000,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $702,755 |
| Capital Gain Net Income | $702,755 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $20,702,755 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $90,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $11,725 |
| Taxes | $2,935 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $42,648 |
| Total operating and administrative expenses | $559,876 |
| Contributions, gifts, grants paid | $715,000 |
| Total expenses and disbursements | $1,274,876 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $57,380 |
| 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 | $19,293 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $37,140,879 |
| 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 | $691,929 |
| Total liabilities | $691,929 |
Grants Awarded
Over the last fiscal year, Dr M Lee Pearce Foundation Inc has awarded $715,000 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
THE CLEVELAND ORCHESTRA PURPOSE: MIAMI RESIDENCY | $150,000 |
THE WASHINGTON NATIONAL OPERA PURPOSE: PROGRAM SUPPORT | $150,000 |
UNIVERSITY OF MIAMI FROST SCHOOL OF MUSIC PURPOSE: MUSIC THERAPY/BRAIN AGING | $200,000 |
FEINSTEIN INSTITUTES FOR MEDICAL RESEARCH PURPOSE: QUALITY OF HUMAN LIFE SURVEY PROGRAM | $200,000 |
UNIVERSITY OF MIAMI FROST SCHOOL OF MUSIC PURPOSE: GENERAL SUPPORT | $15,000 |