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Nonprofiteer
← LOWELL OBSERVATORY FOUNDATION

Form 990 for tax year 2023

Filed by LOWELL OBSERVATORY FOUNDATION.

Totals

Total revenue
$3,755,865
Total expenses
$432,257
Contributions and grants received
$3,530,530
Grants paid
$372,198
Program service revenue
$0
Investment income
$225,335
Other revenue
$0
Total assets, end of year
$13,980,770
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$13,980,770
Program services expenses (Part IX)
$372,198
Management and general expenses
$49,100
Fundraising expenses
$10,959
Program service expenses (Part III)
$372,198

Program services were 86.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1d · Related organizations

    $654

  • 1f · All other contributions, gifts and grants

    $3,529,876

  • 1g · Noncash contributions included above

    $121,729

  • 3 · Investment income

    total $231,001 · excluded $231,001

  • 7a · Gross sales of assets other than inventory

    securities $3,890,408

  • 7b · Less cost or other basis and sales expenses

    securities $3,896,074

  • 7c · Gain or loss

    securities -$5,666

  • 7d · Net gain or loss

    total -$5,666 · excluded -$5,666

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $372,198 · program services $372,198

  • 11c · Fees: accounting

    total $3,950 · management and general $3,950

  • 11f · Fees: investment management

    total $44,192 · management and general $44,192

  • 13 · Office expenses

    total $5 · fundraising $5

  • 23 · Insurance

    total $958 · management and general $958

  • 24a · Other expenses: LICENSES AND FEES

    total $10,954 · fundraising $10,954

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $160,292 · end of year $154,411

  • 2 · Savings and temporary cash investments

    beginning of year $44,735 · end of year $427,322

  • 3 · Pledges and grants receivable

    beginning of year $350,000 · end of year $2,350,000

  • 11 · Investments: publicly traded securities

    beginning of year $9,014,354 · end of year $10,085,112

  • 15 · Other assets

    beginning of year $4,962 · end of year $963,925

  • 27 · Net assets without donor restrictions

    beginning of year $1,968,689 · end of year $2,135,968

  • 28 · Net assets with donor restrictions

    beginning of year $7,605,654 · end of year $11,844,802

Mission and programs · 2023

Mission

THE FOUNDATION WAS ESTABLISHED TO HELP DONORS ACHIEVE THEIR LONG-TERM ENDOWMENT GOALS AND MANAGE SHORT-TERM TARGETED DONATIONS TO LOWELL OBSERVATORY IN ORDER TO SUPPORT THE OBSERVATORY'S MISSION IN PERPETUITY.

Activities or mission (Part I)

TO SUSTAIN AND ENHANCE LOWELL OBSERVATORY'S MISSION BY GENERATING PERPETUAL FINANCIAL SUPPORT.

  • THE LOWELL OBSERVATORY FOUNDATION (LOF) ACCEPTS GIFTS FOR ENDOWED FUNDS AND MANAGES THE FUNDS TO SUPPORT THE OBSERVATORY'S GENERAL OPERATIONS AND THE GROWTH OF THE ENDOWED FUNDS. IN 2023, THE LOF RECEIVED SEVERAL SIGNIFICANT GIFTS. THESE INCLUDE $101,195 TO ESTABLISH THE WILLIAM H. D. GODDARD POSTDOCTORAL ENDOWMENT AND $700,000 TO FULFILL THE 2022 ESTATE PLEDGE THAT CREATED THE WILLIAM G. TIFFT ENDOWED FUND FOR EXTRAGALACTIC AND COSMOLOGICAL RESEARCH. IN ADDITION, WE RECEIVED A PLEDGE OF $3,000,000 TO SUPPLEMENT THE ADC ENDOWMENT. THE FUNDS WILL BE DELIVERED OVER THE NEXT FEW YEARS. BETWEEN NEW GIFTS AND IMPROVED MARKET TRENDS, THE CORPUS VALUES OF THE ENDOWED FUNDS HAVE RECOVERED FROM THE 2022 DOWNTURN.

    Expenses $372,198 · Grants $372,198

As filed on the 2023 return.

Listed in Part VII

  • Ann T Actor

    EXECUTIVE DIRECTOR

    Total calculated
    $193,656
    From this org
    $0
    From related orgs
    $172,107
    Other
    $21,549
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $172,107 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $8,685 related
    Nontaxable benefits
    $0 + $12,864 related
    Filer's total
    $0 + $193,656 related

  • Anne Labruzzo

    CHIEF FINANCIAL OFFICER

    Total calculated
    $193,318
    From this org
    $0
    From related orgs
    $162,474
    Other
    $30,844
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $162,474 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $8,528 related
    Nontaxable benefits
    $0 + $22,316 related
    Filer's total
    $0 + $193,318 related

  • W Lowell Putnam

    TRUSTEE

    Total calculated
    $25,362
    From this org
    $0
    From related orgs
    $6
    Other
    $25,356
    Hours/week
    2 + 32 related

  • Camille Bibles

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Stephen W Brown

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • David D Chase

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • W David Connell

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Virginia G Giovale

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Donna Weistrop

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Marjorie McClanahan

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    2

  • George Putnam III

    BOARD VICE-CHAIR

    Total calculated
    $0
    Hours/week
    2

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • LOWELL OBSERVATORY

    501(C)(3) · ASTRONOMICAL RESEARCH AND EDUCATION · AZ

    Directly controlled by TRUST UW OF PERCIVAL LOWELL

  • PERCIVAL LOWELL TRUST UW

    501(C)(3) · CHARITABLE TRUST F/B/O LOWELL OBSERVATORY · AZ

    Directly controlled by LOWELL OBSERVATORY

Provenance

Return type
form_990
Tax year
2023
Filed
16 August 2024
IRS schema version
2023v5.1
Source object
202422419349301527

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