LS Classic Foundation

Analysis

LS Classic Foundation is a registered charity in United States, based in Austin, TX. It received its IRS tax-exemption ruling in April 2000, 26 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, LS Classic Foundation reported income of $2.6m and spending of $670k, leaving 74% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $872k to $2.6m (+196%), an average of +31% a year. The sharpest change came in the year to December 2022, when income rose by 127%. Over the whole period it spent 67% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, LS Classic Foundation sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 91st percentile within TX. Charities of a similar size with the same main cause include Virginia Community Foundation ($2.6m), Goodie Two Shoes Foundation ($2.6m) and Dcu for Kids ($2.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 89% of the total. Other salaries and wages came to $218k. At year end it held assets of $2.9m against liabilities of $4,605, net assets of $2.9m. It reported 4 employees.