L S Foundation
- Assets
- $6.4m
- Revenue
- $240.0k
- Investments
- $5.2m
- Employees
- 0
- Location
- Palo Alto, CA
- Founding
- 01/1970
- Data as of
- 12/2020
- EIN
- 94-1689629
Organization Overview
L S Foundation is located in Palo Alto, CA. The organization was established in 1970. 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. L S Foundation 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 12/2020, L S Foundation generated $240.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (14.4%) each year. All expenses for the organization totaled $800.0k during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2020
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS MADE TO SECTION 501(C)(3) ORGANIZATIONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Laurence L Spitters President | 15 | $0 | |
Louis Spitters VP | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $240,000 |
| Capital Gain Net Income | $240,000 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $240,000 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $135,000 |
| Total operating and administrative expenses | $135,000 |
| Contributions, gifts, grants paid | $665,000 |
| Total expenses and disbursements | $800,000 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1 |
| Savings and temporary cash investments | $680,167 |
| 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 | $4,850,078 |
| Net Land, buildings, and equipment | $500,433 |
| Other assets | $0 |
| Total assets | $6,422,375 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $560,000 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $200,000 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $760,000 |
Grants Awarded
Over the last fiscal year, L S Foundation has awarded $463,050 in support to 23 organizations.
| Grant Recipient | Amount |
|---|---|
MONTEREY BAY AQUARIUM PURPOSE: EDUCATION | $2,500 |
EAST PALO ALTO TENNIS & TUTORING FOUNDATION PURPOSE: EDUCATION | $5,000 |
AMERICAN CONSERVATORY THEATER PURPOSE: ARTS | $7,500 |
THEATERWORKS PURPOSE: ARTS | $7,500 |
KQED PURPOSE: EDUCATION | $1,000 |
PATHWAYS HOSPICE PURPOSE: HOSPICE | $5,000 |