For the year that ended June 30, 2007, approximately 92% of the Foundation’s revenue was generated by contributions, church support and grant income; gifts-in-kind and other income comprise approx. 8% of total income. Revenue for June 30, 2008 will be reported after Audited Financial Statements are complete.
The current projected revenue for FY 2008/2009 is budgeted at $1,318,500. 71% generated from individual donors, 3% from events, 8% from grants and 19% from church support.
Broadly speaking there are two types of costs within LACF: direct costs and overhead costs. Direct costs are easily identified as part of the program as they are incurred as a direct result of delivering a service or activity. Overhead costs are those costs needed to support and administer programs, activities, and the organization itself. These costs are sometimes also referred to as indirect, core, central, support, or management and administration costs and are often split amongst our various programs.
The Foundation’s overhead percentage in FY 2006/2007 was 22%: This includes management and administrative costs in addition to all fundraising costs. Our direct costs, or program costs, was 78%.
We estimate that these totals will continue similarly, or overhead declining slightly for FY 2007/2008.
Annually, the Foundation makes public their Audited Financial Statements. Fiscal audits are conducted annually by an independent auditor in accordance with generally accepted auditing principles and standards.
We are listed on www.guidestar.org: the leading source of information on US nonprofits. Guidestar is a searchable database of more than 1.7 million IRS-recognized nonprofit organizations.
Currently, the only publication we produce is a bi-annual newsletter called Neighborhood Focus
Type of exempt organization: 501(c)(3)
Date of formation: March 2001
Federal I.D. number: 95-4847950
Charitable state registration number: 23 33690
For more information, contact Linnie Riboli at 626.817.4505 or linnier@lakeave.org.
