Overview
What is Lowe's Foundation?
Lowe's Foundation is a charitable organization based in Mooresville, North Carolina, with the address 1000 Lowe's Blvd, ZIP code 28117. The foundation's primary objective is to support nonprofit organizations and public agencies that significantly contribute to safe and affordable housing, skilled trade education, and community improvement. During the past year, the foundation has allocated funds for scholarships aimed at higher education.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 85% (Three-Star out of Four Stars)
The Lowe's Foundation has received a Three-Star rating from Charity Navigator, indicating a strong level of accountability and financial health. The overall score is derived solely from their Accountability & Finance metrics, which shows that they prioritize responsible management of resources. An 85% score suggests that the foundation is well-managed and transparent in its operations.
Strengths of the foundation include a fully independent board and an excellent track record in financial accountability, with perfect scores in key areas such as material diversion of assets and conflict of interest policies. Additionally, their program expense ratio indicates that an overwhelming majority of their resources are directed towards their mission, which is a positive sign for potential donors looking for impactful contributions.
Despite these strengths, the limited focus on the Accountability & Finance beacon means that other aspects of the organization, such as program effectiveness and community impact, are not evaluated. While the financial health appears robust, potential supporters may seek further information on the foundation's overall effectiveness in achieving its mission to make informed decisions.
This AI summary has been generated from information found on Charity Navigator.
Is Lowe's Foundation legitimate?
Lowe's Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lowe's 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.
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What is the mission statement of Lowe's Foundation?
The Lowe's Foundation is dedicated to making a significant impact on organizations and public agencies through funding. Its primary focus areas are safe and affordable housing, skilled trade education, and community improvement. The Foundation's grants aim to bring about meaningful change and better the lives of people in need. In addition to its financial commitments, during the previous fiscal year, the organization also supported higher education through scholarships.
Who is the CEO of Lowe's Foundation?
David R Green is the Chair of Lowe's Foundation.
What is the revenue of Lowe's Foundation?
Lowe's Foundation's revenue in 2023 was $15,875,960.
Who are the executives of Lowe's Foundation and what are their salaries?
There 50 volunteers at Lowe's Foundation.
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Where can I find the form 990 for Lowe's Foundation?
Lowe's Foundation's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Lowe's Foundation
Lowe's Foundation, a philanthropic organization, is dedicated to making a significant impact on communities by funding nonprofit organizations and public agencies. With a primary focus on safe and affordable housing, skilled trade education, and community improvement, the foundation aims to foster sustainable and thriving neighborhoods.
Through its grant-making initiatives, Lowe's Foundation empowers various organizations to carry out initiatives that address critical community needs. The foundation's support for safe and affordable housing efforts enables the provision of shelter and essential services to those in need, ensuring that they have a secure and stable living environment. Furthermore, the organization's commitment to skilled trade education boosts the workforce by equipping individuals with the necessary skills to succeed in various trades and industries.
In addition to these core focus areas, Lowe's Foundation invests in community improvement projects, which can include infrastructure developments, environmental initiatives, and cultural programs. By providing funding for these projects, the foundation plays a pivotal role in enhancing the overall quality of life within the communities it serves.
During the 2023 fiscal year, Lowe's Foundation took strides towards advancing education by offering scholarships for higher education. This investment in human capital not only benefits the recipients but also contributes to the long-term success of their communities by fostering a more educated and skilled workforce. These scholarships represent just one example of the extensive and far-reaching impact of Lowe's Foundation's grant-making efforts.
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Impact
October, 2024
The impact of Lowe's Foundation is significant, focusing on essential areas such as safe and affordable housing, skilled trade education, and community improvement. By providing funding to nonprofit organizations and public agencies, the foundation plays a crucial role in addressing critical societal needs. In the year ending January 31, 2023, for example, it supported scholarships for higher education, helping to empower individuals and enhance their skills. This commitment fosters educational opportunities and promotes career development in skilled trades, ultimately benefiting communities and contributing to overall societal well-being. Located in Mooresville, NC, the foundation's mission is to drive positive change and create lasting improvements in the communities it serves.
This information is meant to be a general summary of Lowe's 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 2023.
- Investment Income: $55,808
- Gross Receipts: $15,875,960
Assets and Liabilities:
- Total Assets: $18,802,670
- Total Liabilities: $870,000
- Net Assets: $17,932,670
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Organization Details
Founding Year
1957
Phone
(704) 758-2009Principal Officer
David R Green
Main Address
1000 Lowes Blvd, Mooresville, NC, 28117
NTEE Category
Code: B12 - Education
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