Nonprofit · EIN 31-1529669
LAKEWOOD FOUNDATION
Tax-exempt · LAKEWOOD, OH 44107
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $640,766 | $428,380 | $212,386 | $3,192,802 | $50,000 | $3,142,802 |
| December 31, 2023 | 990 | $547,787 | $248,878 | $298,909 | $2,930,416 | $0 | $2,930,416 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $211,113
- of which government grants
- $37,990
- Program service revenue
- $111,104
- Investment income
- $317,184
- Other revenue
- $1,365
Expenses
- Grants and similar amounts paid
- $105,105
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Accounting fees
- $3,551
- Depreciation
- $7,026
- Program services (functional)
- $399,539
- Management and general (functional)
- $28,841
Balance sheet and other
- Total assets, start of year
- $2,930,416
- Total assets, end of year
- $3,192,802
- Total liabilities, end of year
- $50,000
- Net assets, end of year
- $3,142,802
- Land, buildings and equipment
- $6,609
- Publicly traded securities
- $3,000,760
- Net assets without donor restrictions
- $52,423
- Net assets with donor restrictions
- $3,090,379
- Gross receipts
- $649,125
- Employees
- 0
- Volunteers
- 15
- Year formed
- 1996
- State of legal domicile
- OH
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| KAREN LEE | PRESIDENT Trustee or director, Officer | 2 | $0 |
| LINDSEY GRDINA | VICE PRESIDE Trustee or director, Officer | 2 | $0 |
| CYNTHIA COSTELLO | TREASURER Trustee or director, Officer | 2 | $0 |
| NORA KATZENBERGER | SECRETARY Trustee or director, Officer | 2 | $0 |
| MICHAEL BENTLEY | DIRECTOR Trustee or director | 2 | $0 |
| KATHY HABER | DIRECTOR Trustee or director | 2 | $0 |
| ATHENA LOUGHRIN | DIRECTORT Trustee or director | 2 | $0 |
| BETSY SHAUGHNESSY | DIRECTOR Trustee or director | 2 | $0 |
| JUDY WRIGHT | DIRECTOR Trustee or director | 2 | $0 |
| JOHN ZANGHI | DIRECTOR Trustee or director | 2 | $0 |
990 for the year ended December 31, 2023: 9 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| KAREN LEE | PRESIDENT Trustee or director, Officer | 2 | $0 |
| LINDSEY GRDINA | VICE PRESIDE Trustee or director, Officer | 2 | $0 |
| CYNTHIA COSTELLO | TREASURER Trustee or director, Officer | 2 | $0 |
| NORA KATZENBERGER | SECRETARY Trustee or director, Officer | 2 | $0 |
| MICHAEL BENTLEY | DIRECTOR Trustee or director | 2 | $0 |
| KATHY HABER | DIRECTOR Trustee or director | 2 | $0 |
| KRISTIN HARWELL | DIRECTORT Trustee or director | 2 | $0 |
| BETSY SHAUGHNESSY | DIRECTOR Trustee or director | 2 | $0 |
| JOHN ZANGHI | DIRECTOR Trustee or director | 2 | $0 |
Address and contacts
- Address (IRS master file)
- 16024 MADISON AVE, LAKEWOOD, OH 44107-5616
- Principal officer (990 for 2024)
- KAREN LEE, 16024 MADISON AVE, LAKEWOOD, OH 44107
- Signed the 990
- CYNTHIA COSTELLO, TREASURER
- Phone
- (216) 521-1515
- Website
- THELAKEWOODFOUNDATION.ORG
- Return prepared by
- H & J CERTIFIED PUBLIC ACCOUNTANTS INC
Mission
THE LAKEWOOD FOUNDATION IS A PRIVATE, NOT-FOR-PROFIT, COMMUNITY-BASED ORGANIZATION. THE LAKEWOOD FOUNDATION ENHANCES THE LIVES OF LAKEWOOD RESIDENTS BY SERVING AS THE FISCAL AGENT FOR SERVICE GROUPS AND CITY DEPARTMENTS. THE TRUSTEES OF THE LAKEWOOD FOUNDATION ASSIST AND SUPPORT SPECIAL PROJECTS THEY BELIEVE WILL FURTHER THE WELL BEING OF THE LAKEWOOD COMMUNITY.
Program accomplishments
- THE LAKEWOOD FOUNDATION WAS CREATED IN 1996 AS A 501(C)(3) TO SUPPORT PROGRAMS AND ACTIVITIES THAT ENHANCE THE LIVES OF LAKEWOOD RESIDENTS BY ENABLING THEM TO LIVE MORE PRODUCTIVELY AND WITH DIGNITY. TO ACCOMPLISH THIS GOAL, THE LAKEWOOD FOUNDATION WILL ACT AS THE FISCAL AGENT FOR NON- PROFIT ORGANIZATIONS LOCATED IN LAKEWOOD OR FORMED FOR THE BENEFIT OF THE RESIDENTS OF LAKEWOOD AS APPROVED BY THE LAKEWOOD FOUNDATION BOARD OF TRUSTEES. IN ADDITION, THE LAKEWOOD FOUNDATION WILL ALSO PROVIDE ADVOCACY AND FISCAL MANAGEMENT OF PROGRAMS, GRANTS AND CHARITABLE CONTRIBUTIONS TO THE CITY OF LAKEWOOD, DEPARTMENT OF HUMAN SERVICES. THE LAKEWOOD FOUNDATION HAS ASSISTED VARIOUS GROUPS WITHIN THE CITY OF LAKEWOOD WITH FUNDRAISING EFFORTS BY SERVING AS THE FISCAL AGENT FOR THEIR PROJECTS. OVER THE PAST SEVERAL YEARS, THE LAKEWOOD FOUNDATION HAS WORKED VIGOROUSLY TO SUPPORT AND ASSIST ALL OF THE PROGRAMS OF THE DEPARTMENT OF HUMAN SERVICES. CURRENT PROGRAMMING INCLUDE: THE FAMILY ROOM, H2O, FAMILY TO FAMILY PLAY A DAY, LAKEWOOD COMMISSION ON AGING AND THE AGING NUTRITION SITE. THE LAKEWOOD FOUNDATION IS COMPRISED OF VOTING MEMBERS-AT-LARGE REPRESENTING THE GENERAL COMMUNITY. THE LAKEWOOD FOUNDATION IS GOVERNED BY OUR BYLAWS AND INVESTMENT POLICY, COPIES AVAILABLE UPON REQUEST. A PORTION OF OUR FUNDS ARE INVESTED WITH THE CLEVELAND FOUNDATION, FIRST FEDERAL OF LAKEWOOD AND RAYMOND JAMES.Expenses $399,539 · grants $105,105 · revenue $111,104
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 31-1529669
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Governmental unit
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2014
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Philanthropy, voluntarism and grantmaking foundations (T11)
- Assets (IRS master file)
- $3,192,802
- Income (IRS master file)
- $649,125
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $640,766 | $428,380 | $3,192,802 | IRS |
| 990 | December 2023 | $547,787 | $248,878 | $2,930,416 | XML |
| 990 | December 2022 | $305,398 | $205,583 | $2,631,507 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 31-1529669).
Questions about LAKEWOOD FOUNDATION
- What is the EIN of LAKEWOOD FOUNDATION?
- The employer identification number (EIN) of LAKEWOOD FOUNDATION is 31-1529669.
- Is LAKEWOOD FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2014.
- Are donations to LAKEWOOD FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does LAKEWOOD FOUNDATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of LAKEWOOD FOUNDATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did LAKEWOOD FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of LAKEWOOD FOUNDATION?
- The 990 for the year ended December 31, 2024 names KAREN LEE.
- Who are the officers and directors of LAKEWOOD FOUNDATION?
- The 990 for the year ended December 31, 2024 lists 10 people; 0 received compensation from the organization.
- How much revenue does LAKEWOOD FOUNDATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $640,766, expenses of $428,380 and total assets of $3,192,802 at year end.
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