Foundation For Lovejoy Schools
- Assets
- $971.9k
- Revenue
- $995.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Allen, TX
- Founding
- 06/2004
- Data as of
- 06/2022
- EIN
- 81-0625033
Organization Overview
Foundation For Lovejoy Schools is located in Allen, TX. The organization was established in 2004. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, 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. Foundation For Lovejoy Schools 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 06/2022, Foundation For Lovejoy Schools generated $995.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.8% each year. All expenses for the organization totaled $915.7k during the year ending 06/2022. While expenses have increased by 7.8% per year over the past 7 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
CHARITABLE AND EDUCATIONAL BENEFITS TO LOVEJOY ISD
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED TEACHER AND CLASSROOM GRANTS TO FURTHER PROFESSIONAL EDUCATION OF TEACHERS SERVING LOVEJOY ISD SCHOOLS, WHICH EDUCATE APPROXIMATELY 4,000 ELEMENTARY, JUNIOR AND HIGH SCHOOL STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Larry Konecny President | OfficerTrustee | 4 | $0 |
Henri Friloux Exec Advisor | OfficerTrustee | 1 | $0 |
Casey Jones Treasurer | OfficerTrustee | 4 | $0 |
Mark Wheelis Past President | OfficerTrustee | 4 | $0 |
Brian Dale Vice President | OfficerTrustee | 4 | $0 |
Cyd Elliott Secretary | OfficerTrustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $501,011 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $501,011 |
| Total Program Service Revenue | $0 |
| Investment income | $14,400 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $460,607 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $995,518 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $784,343 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $102,617 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $406 |
| Office expenses | $0 |
| Information technology | $4,130 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,209 |
| All other expenses | $0 |
| Total functional expenses | $915,715 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $688,428 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $13,750 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $269,712 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $971,890 |
| Accounts payable and accrued expenses | $2,100 |
| Grants payable | $372,190 |
| 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 | $0 |
| Total liabilities | $374,290 |
| Net assets without donor restrictions | $536,935 |
| Net assets with donor restrictions | $60,665 |
| 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 | $971,890 |
Grants Awarded
Over the last fiscal year, Foundation For Lovejoy Schools has awarded $437,663 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
LOVEJOY ISD PURPOSE: EDUCATION | $407,663 |
LOVEJOY ISD PURPOSE: LEARNING AT LOVEJOY | $30,000 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Foundation For Lovejoy Schools has recieved totaling $157,760.
| Awarding Organization | Amount |
|---|---|
Communities Foundation Of Texas Dallas, TX PURPOSE: THIS GRANT IS DESIGNATED FOR GENERAL SUPPORT. | $98,831 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $40,157 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $15,836 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $1,924 |
Verizon Foundation Basking Ridge, NJ PURPOSE: MIP PAYOUT FOR 08/16/21 | $512 |
Maverick Capital Foundation Dallas, TX PURPOSE: EDUCATION | $300 |
Endowment Analysis
| Beg. Balance | $59,828 |
| Earnings | $837 |
| Ending Balance | $60,665 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Arkansas Foundation Inc Fayetteville, AR | $2,089,992,333 | $297,590,096 |
Texas A & M Research Foundation College Station, TX | $17,651,760 | $64,742,890 |
Tiger Athletic Foundation Baton Rouge, LA | $492,455,521 | $67,955,012 |
Vanguard Academy Pharr, TX | $58,411,993 | $65,696,988 |
Southwestern Medical Foundation Dallas, TX | $1,318,497,986 | $133,001,887 |
Unm Rainforest Innovations Albuquerque, NM | $22,586,721 | $58,002,418 |
University Of New Mexico Foundation Incorporated Albuquerque, NM | $270,142,035 | $53,815,950 |
University Of Texas Foundation Austin, TX | $88,879,484 | $47,692,096 |
L S U Foundation Baton Rouge, LA | $804,249,383 | $72,730,367 |
Southeastern Louisiana Area Health Education Center Natalbany, LA | $8,364,528 | $32,019,241 |
University Of Arkansas Fayetteville Campus Foundation Inc Fayetteville, AR | $748,157,500 | $15,686,060 |
Razorback Foundation Inc Fayetteville, AR | $72,537,377 | $26,130,749 |