Ls Classic Foundation in Austin, Texas (TX)

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Ls Classic Foundation
Employer Identification Number (EIN)742931329
Name of OrganizationLs Classic Foundation
In Care of NameLs Classic Foundation
Address1215 Red River Suite 421, Austin, TX 78701-1921
SubsectionCharitable Organization
Ruling Date04/2000
DeductibilityContributions are deductible
FoundationOrganization that normally receives no more than one third of its support from gross investment income and unrelated business income and at the same time more than one third of its support from contributions, fees, and gross receipts related to exempt purposes
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2011
Assets$500,000 to $999,999
Income$500,000 to $999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$554,850
Amount of Income$707,018
Form 990 Revenue Amount$496,941
National Taxonomy of Exempt Entities (NTEE)Philanthropy, Voluntarism and Grantmaking Foundations: Private Grantmaking Foundations


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Amount of income in 2011: $707,018 (it was $438,380 in 2010)
This organization: 

 $707,018
Other organizations performing similar types of work: 

 $97,434

Assets in 2011: $554,850 (it was $236,558 in 2010)
Ls Classic Foundation: 

 $554,850
Other organizations performing similar types of work: 

 $303,611

Financial snapshot ($)

Revenue for 2011

Functional expenses for 2011

Support schedule

Statements Regarding Other IRS Filings and Tax Compliance (for 2011)
Did the organization have unrelated business gross income of $1,000 or more during the year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2011)
Total revenue$496,941
Contributions, Gifts, Grants and Other Similar Amounts$468,260
Program Service Revenue$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$1,017
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental income$0
Net gain from sales of assets other than inventory$0
Net income from fundraising events$27,664
Gross income from fundraising events$237,741
Less: direct expenses$210,077
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous Revenue$0
Statement of Functional Expenses (for 2011)
Total functional expenses$178,657
Compensation of current officers, directors, trustees, and key employees$0
Other salaries and wages$11,153
Payroll taxes$853
Professional fundraising services$0
Other$166,651
Balance Sheet (for 2011)
Total assets$554,850
Total liabilities$742
Tax-exempt bond liabilities$0
Secured mortgages and notes payable to unrelated third parties$0
Unsecured notes and loans payable to unrelated third parties$0
Other$742
Total net assets or fund balances$554,108
Retained earnings, endowment, accumulated income, or other funds$0
Reason for Public Charity Status (for 2011)
The organization is not a private foundation because it is:An organization that normally receives: (1) more than 33 1/3 % of its support from contributions, membership fees, and gross receipts from activities related to its exempt functions - subject to certain exceptions, and (2) no more than 33 1/3 % of its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses acquired by the organization after June 30, 1975
Support Schedule for Organizations Described in Section 509(a)(2) (for 2011)
2007 - 2011 Total
Total support$2,218,818
Gifts, grants, contributions, and membership fees received$1,304,588
Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose$908,993
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$0
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources and Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975$5,237
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Marine Toys For Tots Foundation18251 Quantico Gateway Drive, Triangle, VA 22172-1776VA2006-04$295,012,655
2Connecticut Health Foundation Inc100 Pearl Street, Hartford, CT 06103-4506CT2002-10$174,299,539
3Williamsburg Community Health Foundation Inc5308 Discovery Park Blvd, Williamsburg, VA 23188-2880VA1997-02$156,093,653
4Osteopathic Heritage Foundation1500 Lake Shore Dr Ste 230, Columbus, OH 43204-3800OH2004-03$141,668,418
5United Israel Appeal Of Canada IncToronto On M2r 3v3, Canadainternational2001-05$54,245,721
6United Methodist Retirement Homes Incorporated2600 Croasdaile Farm Pkwy No A-500, Durham, NC 27705-1331NC2011-08$46,081,175
7Barbara Bush Texas Fund For Family Literacy600 Travis, Houston, TX 77002-3009TX1997-11$2,642,751
8Amistad Cristiana Cristian Church8706 Delvine Ln, Austin, TX 78748TX2003-05$289,478
9Simmons Family Foundation5430 Lbj Fwy Ste 1700, Dallas, TX 75240-2620TX2001-11$117,186
10Hisd Gear Up Trust Fund4400 W 18th St, Houston, TX 77092-8501TX2005-06$9,391
11Houston Endowment Inc600 Travis St Ste 6400, Houston, TX 77002-3003TX1938-03$1,412,084,269
12Meadows Foundation Incorporated, The Northern Trust Company3003 Swiss Ave, Dallas, TX 75204-6049TX1951-03$353,777,028
13Laura And John Arnold Foundation2800 Post Oak Blvd Ste 225, Houston, TX 77056-6169TX2009-10$184,250,788
14The Michael And Susan Dell FoundationPO BOX 163867, Austin, TX 78716-3867TX2000-09$157,142,816
15Mulva Family Foundation11603 Versailles Lakes Ln, Houston, TX 77082-6843TX2005-09$92,927,701
16Charles T Bauer Foundation, Wolfman Darren Ttee11 Greenway Plaza Ste 2600, Houston, TX 77046-1100TX2005-01$61,953,880
17M D Anderson FoundationPO BOX 2558, Houston, TX 77252-2558TX2002-10$40,379,625
18The Looper Foundation11757 Katy Fwy Ste 1400, Houston, TX 77079-1725TX1991-04$38,498,747
19E3 Foundation7301 Rr620n Ste 155-181, Austin, TX 78726-4539TX2008-04$37,678,816
20Elisabeth K Harris Foundation71670800, Wells Fargo Bank TteePO BOX 41629, Austin, TX 78704-0028TX2006-11$34,427,451
Number of organizations performing similar types of work
Alaska25
Alabama192
Arkansas70
Arizona288
California2,416
Colorado378
Connecticut382
District of Columbia106
Delaware539
Florida1,396
Georgia456
Hawaii80
Iowa165
Idaho53
Illinois1,024
Indiana284
Kansas148
Kentucky156
Louisiana146
Massachusetts669
Maryland401
Maine82
Michigan596
Minnesota362
Missouri307
Mississippi62
Montana62
North Carolina519
North Dakota20
Nebraska159
New Hampshire72
New Jersey843
New Mexico87
Nevada190
New York2,482
Ohio691
Oklahoma217
Oregon198
Pennsylvania1,160
Rhode Island172
South Carolina161
South Dakota27
Tennessee240
Texas1,146
Utah259
Virginia453
Vermont52
Washington359
Wisconsin355
West Virginia66
Wyoming57
International34
Total20,864

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