Jl Foundation
- Assets
- $35.4m
- Revenue
- $1.5m
- Investments
- $35.4m
- Employees
- 0
- Location
- Los Angeles, CA
- Founding
- 01/1988
- Data as of
- 10/2023
- EIN
- 95-4129163
Organization Overview
Jl Foundation is located in Los Angeles, CA. The organization was established in 1988. According to its NTEE Classification (T90) the organization is classified as: Named Trusts N.E.C., 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. Jl 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 10/2023, Jl Foundation generated $1.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (14.7%) each year. All expenses for the organization totaled $2.0m during the year ending 10/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Jl Foundation has awarded 50 individual grants totaling $5,307,277. 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 |
|---|---|---|---|
James B Lovelace Treasurer | 1 | $0 | |
Jeffrey K Lovelace President | 1 | $0 | |
Robert W Lovelace Secretary | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $1,164,520 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $300,813 |
| Capital Gain Net Income | $300,813 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,465,333 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $47,986 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $276 |
| Total operating and administrative expenses | $134,595 |
| Contributions, gifts, grants paid | $1,837,000 |
| Total expenses and disbursements | $1,971,595 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $278 |
| 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 | $35,351,554 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $35,351,832 |
| 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, Jl Foundation has awarded $1,837,000 in support to 21 organizations.
| Grant Recipient | Amount |
|---|---|
CLIMATE RIGHTS INTERNATIONAL PURPOSE: GENERAL OPERATING | $25,000 |
LOS ANGELES PHILHARMONIC PURPOSE: GENERAL OPERATING | $30,000 |
ISLA VISTA YOUTH PROJECT INC DBA LEAP PURPOSE: GENERAL OPERATING | $20,000 |
SANDY HOOK PROMISE FOUNDATION PURPOSE: GENERAL OPERATING | $100,000 |
IDYLLWILD ARTS FOUNDATION PURPOSE: GENERAL OPERATING | $100,000 |
SANTA BARBARA COTTAGE HOSPITAL PURPOSE: GENERAL OPERATING | $25,000 |