L & M Charitable Foundation Inc
- Assets
- $12.0m
- Revenue
- $2.5m
- Investments
- $10.8m
- Employees
- 0
- Location
- Dalas, TX
- Founding
- 07/2000
- Data as of
- 12/2022
- EIN
- 75-2874187
Organization Overview
L & M Charitable Foundation Inc is located in Dalas, TX. The organization was established in 2000. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. L & M Charitable 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, L & M Charitable Foundation Inc generated $2.5m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 27.9% each year . All expenses for the organization totaled $869.0k during the year ending 12/2022. While expenses have increased by 10.2% 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 2014, L & M Charitable Foundation Inc has awarded 315 individual grants totaling $3,867,500. 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 |
|---|---|---|---|
Richard T Mcmillan Pres/dir | 0 | $0 | |
Jan Late Mcmillan Director | 0 | $0 | |
Kirstin E Mcmillan Gillespie Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $2,000,000 |
| Interest on Savings | $21,193 |
| Dividends & Interest | $240,100 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $230,386 |
| Capital Gain Net Income | $230,386 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | -$4,677 |
| Total Revenue | $2,487,002 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $24 |
| Taxes | $6,371 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $4,095 |
| Total operating and administrative expenses | $94,027 |
| Contributions, gifts, grants paid | $775,000 |
| Total expenses and disbursements | $869,027 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,184,395 |
| 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 | $9,892,424 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $11,994,245 |
| 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 | $10,000 |
| Total liabilities | $10,000 |
Grants Awarded
Over the last fiscal year, L & M Charitable Foundation Inc has awarded $775,000 in support to 13 organizations.
| Grant Recipient | Amount |
|---|---|
NOLS FUND PURPOSE: GENERAL SUPPORT CONTRIBUTION | $10,000 |
SEED EFFECT PURPOSE: YEAR END GIFT MATCH | $50,000 |
JOHN AUSTIN CHELEY FOUNDATION PURPOSE: GENERAL SUPPORT CONTRIBUTION | $75,000 |
DALLAS ARBORETUM AND BOTANICAL GARD PURPOSE: GENERAL SUPPORT CONTRIBUTION | $60,000 |
PILLOW ACADEMY PURPOSE: GENERAL SUPPORT CONTRIBUTION | $100,000 |
SCOTTISH RITE FOR CHILDREN PURPOSE: DYSLEXIA PROGRAM | $50,000 |