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Lpmc Foundation FY2020 filing

Tax-deductible

Chicago, IL501(c)(3)Arts & Culture EIN 47-2032801Revenue $54K in FY2020

On file with the IRSlpmcfoundation.org2667 N Lincoln Ave, 60614-1343 · Chicago, ILTax-exempt since Feb 2015Publicly supported charity — 170(b)(1)(A)(vi)

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To share music with a broad audience across ages and demographics (from elderly at nursing homes to open performances at museums and universities). We perform for the public through lincoln park music center performances and fund educational programs. Through our educational grants, we hope to give beneficiaries the opportunity to develop positive self-esteem through music by learning skills that will help them throughout their lives.

501(c)(3) charity; gifts are tax-deductible.
63¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $52K a year · 67% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
63%
of spending
Worth a look: 63% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Cash reserves
29 mo
of spending, in cash
Plus $498K in investments, Pt X · Ln 11–13
Looks good: 28.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $20K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$54K
Spent
$28K
To programs
63%
Net assets
$565K
By yearFY2020–FY2024
Revenue
$54K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$54K
FY2021$163K
FY2022$48K
FY2023$65K
FY2024$59K
Expenses
$28K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$28K
FY2021$23K
FY2022$33K
FY2023$16K
FY2024$29K
Net assets
$565K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$565K
FY2021$739K
FY2022$652K
FY2023$785K
FY2024$872K

From the FY2020 Form 990 · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 2015.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

63 cents of each dollar spent went to programs.

Program services 63% · $18K Management & general 37% · $10K

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

9 people listed on the 990.

Part VII, Section A · reportable compensation
Whe DO Kim
President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Vanessa Lyon
Director
$0Pt VII · Sec A
Fannie Young
Director
$0Pt VII · Sec A
See Lpmc Foundation executive salaries →

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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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Shares music with diverse audiences and funds educational programs to build self-esteem.

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Provided by the organization

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1 program · $18K · in their own filed words · FY2020
01

To provide funding to musical organizations in order to share the benefits of a creative education

$18Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2022
The Chicago Community TrustFY2022$20K
Total grants receivedfrom 1 funder$20K
Grants paid · 10 grants · $94K · 2020–2024
Upbeat Music and Arts CenterIL · FY2024$12,357
McCutcheon Steam ElementaryFY2024$5,856
Upbeat Music and Arts CenterIL · FY2023$10,000
The Chicago Lighthouse for People Who Are Blind or Visually ImpairedIL · FY2022$10,000
Jones College PrepFY2022$9,310
Music in Urban Schools Inspiring ChangeIL · FY2022$7,500
Intonation Music WorkshopIL · FY2021$11,375
The Chicago Lighthouse for People Who Are Blind or Visually ImpairedIL · FY2021$10,000
Friends of Whitney M Young High SchoolIL · FY2020$9,801
Intonation Music WorkshopIL · FY2020$8,000

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$54K
Ln 12
Gifts and grantsLn 1h$36K
Investment incomeLn 3$18K
Money outPt IX
$28K
Ln 25
Programscol B$18K
Managementcol C$10K
Owns and owesPt X
$565K
net assets · Ln 32
Cash and savingsLn 1–2$67K
Total assetsLn 16$565K
LiabilitiesLn 26$0
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$36K
Investment incomeLn 3$18K
Gains on assetsLn 7$7K
Total revenueLn 12$54K
Assets in detailPt X, end of year
CashLn 1$67K
Cash and savings togetherLn 1–2$67K
InvestmentsLn 11–13$498K
Total assetsLn 16$565K
LiabilitiesLn 26$0
Net assetsLn 32$565K
OperationsPt I, VI
EmployeesI 50
VolunteersI 620
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$58K$67K
InvestmentsLn 11–13$445K$498K
Total assetsLn 16$503K$565K
LiabilitiesLn 26$0$0
Net assetsLn 32$503K$565K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$18K$18K
Accounting feesLn 11c$9K$9K
Investment management feesLn 11f$846$846
Office expensesLn 13$786$786
Total functional expensesLn 25$28K$18K$10K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $59K$29K$31K$872K 990 PDF
FY2023 $65K$16K$49K$785K 990 PDF
FY2022 $48K$33K$16K$652K 990 PDF
FY2021 $163K$23K$140K$739K 990 PDF
FY2020 Viewing $54K$28K$26K$565K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $54,215 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $45,800$35,971
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $15,028$18,244
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $60,828$54,215
I-13 Grants and similar amounts paidPrior year $12,426$17,801
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $7,862$10,266
I-18 Total expensesPrior year $20,288$28,067
I-19 Revenue less expensesPrior year $40,540$26,148
Part VI · Governance 9 of 9 board members independent, 3 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $54,215 across 5 lines filed
VIII-1f All other contributions, gifts and grants$35,971
VIII-1h Total contributions, gifts and grants$35,971
VIII-3 Investment incomeExcluded from tax $11,212$11,212
VIII-7 Net gain or loss on sales of assetsExcluded from tax $7,032$7,032
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $18,244$54,215
Part IX · Statement of functional expenses $28,067 across 4 lines filed
IX-1 Grants to domestic organizationsPrograms $17,801$17,801
IX-11c Accounting feesManagement $8,634$8,634
IX-11f Investment management feesManagement $846$846
IX-13 Office expensesManagement $786$786
IX-25 Total functional expensesPrograms $17,801 · Management $10,266 · Fundraising $0$28,067
Part X · Balance sheet $564,901 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $57,922$66,852
X-11 Publicly traded securitiesStart of year $444,877$498,049
X-16 Total assetsStart of year $502,799$564,901
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $502,799$564,901
X-32 Total net assets or fund balancesStart of year $502,799$564,901
X-33 Total liabilities and net assetsStart of year $502,799$564,901
Part XI · Reconciliation of net assets $564,901 net assets at year end
XI-1 Total revenue$54,215
XI-2 Total expenses$28,067
XI-3 Revenue less expenses$26,148
XI-4 Net assets at start of year$502,799
XI-5 Net unrealized gains (losses) on investments$35,954
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$564,901

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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