Overview
What is Lpmc Foundation?
Lpmc Foundation is a nonprofit organization, headquartered in Chicago, Illinois, dedicated to promoting the benefits of creative education through music. They offer funding to various musical organizations, serving a diverse range of audiences, including underserved neighborhood schools and organizations catering to individuals with disabilities, such as the Lighthouse for Visually Impaired Students. The foundation also organizes public programming, making music accessible to a wide community, including senior homes and educational institutions. Lincoln Park Music Center students participate in volunteering and tutoring at these organizations. The Lpmc Foundation's mission is to share music with a broad audience, encompassing different age groups and demographics, from elderly residents in nursing homes to public performances at museums and universities. Through their educational grants, they aim to provide beneficiaries with the opportunity to develop self-confidence and valuable skills that will benefit them throughout their lives.
Official website here: www.lpmcfoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 83% (Three-Star out of Four Star rating)
The Lpmc Foundation has received a Three-Star rating from Charity Navigator, indicating a strong performance in accountability and finance. The overall score is derived entirely from its accountability measures, showcasing a commitment to transparency and responsible stewardship of funds. The foundation boasts a 100% independent board, which is a significant strength in governance, ensuring that decision-making is free from conflicts of interest.
Strengths noted include the absence of any material diversion of assets, a solid program expense ratio of 80.78%, and adherence to several accountability policies, such as having a conflict of interest policy and maintaining board meeting minutes. These factors reflect positively on the foundation's operational integrity and dedication to its mission.
However, there are notable areas for improvement, particularly the lack of a whistleblower policy and a document retention and destruction policy, which received no points in Charity Navigator's assessment. Addressing these gaps could enhance the foundation's overall accountability profile, allowing it to solidify its reputation further in the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is Lpmc Foundation legitimate?
Lpmc Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lpmc Foundation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
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Official website here: www.lpmcfoundation.org
What is the mission statement of Lpmc Foundation?
The Lpmc Foundation's mission is to disseminate the benefits of music education to a diverse audience, spanning various age groups and demographics. This is achieved through public performances at venues such as nursing homes, museums, and universities, as well as through the Lincoln Park Music Center. Furthermore, the foundation provides funding for educational programs with the aim of enabling beneficiaries to enhance their self-esteem through learning musical skills that can be beneficial throughout their lives. The educational grants offered by the foundation aim to offer these opportunities for personal growth.
Official website here: www.lpmcfoundation.org
Who is the CEO of Lpmc Foundation?
Whe Do Kim is the President of Lpmc Foundation.
Official website here: www.lpmcfoundation.org
What is the revenue of Lpmc Foundation?
Lpmc Foundation's revenue in 2022 was $48,426.
Official website here: www.lpmcfoundation.org
Who are the executives of Lpmc Foundation and what are their salaries?
There 20 volunteers at Lpmc Foundation.
Here are 8 key members and their salaries:
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Official website here: www.lpmcfoundation.org
Where can I find the form 990 for Lpmc Foundation?
Lpmc Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lpmcfoundation.org
Learn more at the official website: www.lpmcfoundation.org
Mission Statement of Lpmc Foundation
The Lpmc Foundation, a nonprofit organization, is dedicated to funding musical organizations with the intention of sharing the benefits of creative education. Their mission is to bring music to a wide audience across various age groups and demographics. This encompasses performances at nursing homes for the elderly, open shows at museums and universities, and public performances at the Lincoln Park Music Center. Beyond performances, the Lpmc Foundation supports educational programs through financial grants. The aim of these grants is to provide beneficiaries with the opportunity to develop positive self-esteem and acquire skills that will benefit them throughout their lives through music learning.
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Impact
August, 2024
Lpmc Foundation's impact is significant in providing funding to musical organizations, enabling them to share the benefits of a creative education. By supporting a diverse group of organizations, including Chicago Public Schools in underserved neighborhoods and groups with disabilities such as Lighthouse for visually impaired students, Lpmc Foundation is fostering access to music education for various demographics.
Furthermore, Lpmc Foundation's public programming initiatives ensure broad enjoyment and access to music within the community, including performances at nursing homes and educational institutions. Through these efforts, the foundation is spreading the joy of music across age groups and demographics, from elderly individuals in nursing homes to audiences at museums and universities.
Moreover, the foundation's educational grants empower beneficiaries to develop positive self-esteem through music education, equipping them with valuable skills for life. By enabling individuals to learn and engage with music, Lpmc Foundation is making a meaningful impact on the community and promoting the value of the arts.
This information is meant to be a general summary of Lpmc Foundation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: -$2,574
- Gross Receipts: $185,911
Assets and Liabilities:
- Total Assets: $651,994
- Total Liabilities: $0
- Net Assets: $651,994
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Organization Details
Founding Year
2014
Phone
(773) 680-2200Principal Officer
Whe Do Kim
Main Address
2667 NORTH LINCOLN AVENUE, CHICAGO, IL, 60614
Website
www.lpmcfoundation.orgNTEE Category
Code: A126 - Arts
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