Lakeshore Avenue Baptist Church Foundation Inc
- Assets
- $640.8k
- Revenue
- $32.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Oakland, CA
- Founding
- 04/1955
- Data as of
- 12/2023
- EIN
- 94-3307590
Organization Overview
Lakeshore Avenue Baptist Church Foundation Inc is located in Oakland, CA. The organization was established in 1955. According to its NTEE Classification (X21) the organization is classified as: Protestant, under the broad grouping of Religion-Related and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Lakeshore Avenue Baptist Church 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 12/2023, Lakeshore Avenue Baptist Church Foundation Inc generated $32.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (23.8%) each year. All expenses for the organization totaled $22.5k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (26.8%) per year over the past 5 years. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PRIMARY PURPOSE OF LABC FOUNDATION IS TO MANAGE LABC INVESTMENTS, WHOSE PRINCIPAL, INTEREST AND APPRECIATED VALUE IN TURN SUPPORT THE MISSION AND MINISTRIES OF THE LAKESHORE AVENUE BAPTIST CHURCH (LABC) INTO THE FUTURE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
QUARTERLY DISTRIBUTION OF $3,250 FOR LABC MINISTRIES AND OPERATIONS: THE INCOME GENERATED BY LABC FOUNDATION IS USED BY LABC FOR PROGRAMS. THE GENERAL FUND IS FOR CHURCH OPERATIONS. ALL CHURCH MEMBERS BENEFIT, AND DISTRIBUTIONS ARE FIXED.
LABC CHERIE CLAIRE FUND SUPPORTS THE FAMILY-ORIENTED OUTREACH AND CHILDREN'S ACTIVITIES OF THE CHURCH. ALL MEMBERS AND THE PUBLIC BENEFIT.
LABC ROD ROMNEY LEGACY FUND: PROGRAM SUPPORT FOR THE SOCIAL JUSTICE EFFORTS OF THE CHURCH, SUCH AS "JUSTICE JAM". ALL MEMBERS BENEFIT.
LABC SCHOLARSHIP FUND DISTRIBUTION WAS USED TO PROVIDE SCHOLARSHIP AND TUITION SUPPORT FOR STUDENTS AND MEMBERS OF THE CHURCH. ALL CHURCH MEMBERS BENEFIT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Wilson President | OfficerTrustee | 0 | $0 |
Roehl Cinco Treasurer | OfficerTrustee | 0 | $0 |
Gloria Meads Trustee | Trustee | 0 | $0 |
Barbara Bowman Trustee | Trustee | 0 | $0 |
Sheila Sims Trustee | Trustee | 0 | $0 |
H James Hopkins Senior Pastor | Trustee | 0 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $32,761 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $32,761 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $22,542 |
| 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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $22,542 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $418 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $640,377 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $640,795 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $640,795 |
| 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 | $640,795 |
Grants Awarded
Over the last fiscal year, Lakeshore Avenue Baptist Church Foundation Inc has awarded $107,598 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
LAKESHORE AVENUE BAPTIST CHURCH PURPOSE: Support of LABC Ministries | $13,000 |
LAKESHORE AVENUE BAPTIST CHURCH PURPOSE: Support of LABC Programs | $7,098 |
INTERFAITH COUNCIL OF ALAMEDA COUNTY PURPOSE: Pass-through donation from San Francisco Foundation | $87,500 |