Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jan 1973.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
95 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
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Who runs it and what they're paid
11 people listed on the 990.
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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2Yes
- Top official's pay set by an independent reviewPt VI · Ln 15aNo
Programs and updates
Funds cultural, medical, and educational projects for other organizations.
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L.B. Smith estate foundation was formed to support cultural, educational and medical programs. Support is given to assist in providing cultural programs to the general public. Financial support is provided for educational programs at schools and colleges as well as financial assistance to educational organizations.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2024 990, line by line.
Download 990
| Line | Start FY24 | End FY24 |
|---|---|---|
| Cash and savingsLn 1–2 | $188K | $143K |
| InvestmentsLn 11–13 | $6.7M | $6.9M |
| Total assetsLn 16 | $6.9M | $7.0M |
| LiabilitiesLn 26 | $88K | $56K |
| Net assetsLn 32 | $6.8M | $7.0M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $414K | $414K | ||
| Accounting feesLn 11c | $6K | $6K | ||
| Investment management feesLn 11f | $15K | $15K | ||
| Office expensesLn 13 | $58 | $58 | ||
| Total functional expensesLn 25 | $435K | $414K | $21K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest Viewing | $458K | $435K | $24K | $7.0M | 990 PDF |
| FY2023 | $336K | $391K | −$55K | $6.8M | 990 PDF |
| FY2022 | $341K | $339K | $2K | $6.6M | 990 PDF |
| FY2021 | $445K | $361K | $84K | $7.1M | 990 PDF |
| FY2020 | $336K | $373K | −$37K | $6.8M | 990 PDF |
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Schedules filed Part IV
See the full FY2024 990 (6 parts)
Part I · Summary $458,441 revenue, 12 lines filed
Part VI · Governance 0 of 3 board members independent, 5 to look at
Part VIII · Statement of revenue $458,441 across 5 lines filed
Part IX · Statement of functional expenses $434,900 across 4 lines filed
Part X · Balance sheet $7,006,508 assets, 9 lines filed
Part XI · Reconciliation of net assets $6,950,516 net assets at year end
Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File
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