L40 Foundation

Analysis

L40 Foundation is a registered charity in United States, based in Longwood, FL. It received its IRS tax-exemption ruling in January 2022, 4 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, L40 Foundation reported income of $57k and spending of $50k, spending 89% of its income. Across the 3 years on record, from December 2021 to December 2023, income fell from $64k to $57k (-12%), an average of -6.1% a year. The sharpest change came in the year to December 2022, when income dropped by 19%. Over the whole period it spent 115% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, L40 Foundation sits at the 24th percentile: it is larger than about 24% of them. Against every charity in United States with reported income it ranks in the 22nd percentile, and in the 26th percentile within FL. Charities of a similar size with the same main cause include Lady Diamond Pros Inc ($57k), Beacon Sloop Club Inc ($57k) and Cougar Diamond Club ($57k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $11k (21% of expenses). At year end it held assets of $6,503 against liabilities of $0, net assets of $6,503. It reported 2 employees.