Michael & Robin Lally Foundation Corp
- Assets
- $653.3k
- Revenue
- $1.2m
- Investments
- $639.4k
- Employees
- 0
- Location
- Clearwater, FL
- Founding
- Data as of
- 12/2022
- EIN
- 86-1421679
Organization Overview
Michael & Robin Lally Foundation Corp is located in Clearwater, FL. 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. Michael & Robin Lally Foundation Corp 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, Michael & Robin Lally Foundation Corp generated $1.2m in total revenue. This represents relatively stable growth, over the past 2 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $265.0k during the year ending 12/2022. While expenses have increased by 6.1% per year over the past 2 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 2021, Michael & Robin Lally Foundation Corp has awarded 52 individual grants totaling $453,860. 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
NONE
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Lally Co-President | 1 | $0 | |
Robin Lally Co-President/treasurer | 6 | $0 | |
Doris Lally Secretary | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $954,298 |
| Interest on Savings | $2 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $230,219 |
| Capital Gain Net Income | $230,219 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,184,519 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $6,789 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $13,591 |
| Printing and publications | $0 |
| Other expenses | $6,350 |
| Total operating and administrative expenses | $33,480 |
| Contributions, gifts, grants paid | $231,501 |
| Total expenses and disbursements | $264,981 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $13,903 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $653,332 |
| 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 | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Michael & Robin Lally Foundation Corp has awarded $231,501 in support to 41 organizations.
| Grant Recipient | Amount |
|---|---|
PARC CENTER FOR DISABILITIES PURPOSE: UNRESTRICTED GRANT | $20,000 |
ST PAUL UNITED METHODIST PURPOSE: UNRESTRICTED GRANT | $1,200 |
JOHNS PASS RESCUE PURPOSE: UNRESTRICTED GRANT | $500 |
CITY OF MADERIA BEACH PURPOSE: UNRESTRICTED GRANT | $5,688 |
PASTURE VALLEY CHILDREN MISSIONS PURPOSE: UNRESTRICTED GRANT | $21,815 |
PITIFUL PAWS RESCUE PURPOSE: UNRESTRICTED GRANT | $12,500 |