Overview
What is Lotus Endowment Fund Inc?
Lotus Endowment Fund Inc, classified as a 501(C)(3) organization, serves as a supporting foundation for the Sundari Foundation Inc and its initiatives, such as the Lotus House Women's Shelter. Established to ensure the financial stability and long-term viability of the Sundari Foundation, this endowment aims to provide a sustainable resource for women, children, and youth in need for generations to come. The Lotus Endowment Fund owns and leases facilities at two locations in Miami, FL, offering a 50-year lease at a nominal annual rent of $1 per year. Furthermore, it owns vacant land in Miami, which it leases to the Sundari Foundation with no associated rent or value. The primary mission of Lotus Endowment Fund Inc is to support and strengthen the Sundari Foundation's initiatives, thus addressing the needs of vulnerable individuals in the community.
Official website here: www.lotusendowment.org
What do the Facebook reviews say about Lotus Endowment Fund Inc?
100% of 35 reviewers on Facebook recommend the Lotus Endowment Fund Inc. Here's a summary of their reviews:
Many supporters describe the organization as a significant blessing in their lives, emphasizing its positive impact and the benefits it brings to the community. Reviewers frequently highlight the compassionate approach of the staff and the effective programs offered, which resonate deeply with those in need.
Overall, the sentiment towards the Lotus Endowment Fund is overwhelmingly positive. Contributors feel that the nonprofit fulfills its mission with sincerity and dedication, making a meaningful difference in the lives of individuals it serves.
This AI summary has been generated from reviews found on Facebook.
Is Lotus Endowment Fund Inc legitimate?
Lotus Endowment Fund Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lotus Endowment Fund Inc 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:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $18,269
For more financial information, click here
Official website here: www.lotusendowment.org
What is the mission statement of Lotus Endowment Fund Inc?
The Lotus Endowment Fund Inc. serves as a supporting foundation for the Sundari Foundation Inc. and its initiatives, such as the Lotus House Women's Shelter. Its primary objective is to ensure the financial stability and long-term viability of the Sundari Foundation, enabling the Lotus House to provide a resource for women, children, and youth in need for generations to come. The Endowment Fund owns facilities and leases them to the Sundari Foundation at a nominal annual rent, while also owning a vacant land leased to the Sundari Foundation with no attributed value. The mission of the Lotus Endowment Fund is focused on providing a sustained source of support for the Sundari Foundation's initiatives, thereby benefiting those in need.
Official website here: www.lotusendowment.org
Who is the CEO of Lotus Endowment Fund Inc?
Constance Collins is the Secty, Treas of Lotus Endowment Fund Inc.
Official website here: www.lotusendowment.org
What is the revenue of Lotus Endowment Fund Inc?
Lotus Endowment Fund Inc's revenue in 2022 was $9,179,759.
Official website here: www.lotusendowment.org
Who are the executives of Lotus Endowment Fund Inc and what are their salaries?
The average compensation at Lotus Endowment Fund Inc during 2022 was $18,269. There is 1 employee at Lotus Endowment Fund Inc.
Here are 9 key members and their salaries:
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Official website here: www.lotusendowment.org
Where can I find the form 990 for Lotus Endowment Fund Inc?
Lotus Endowment Fund Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lotusendowment.org
Learn more at the official website: www.lotusendowment.org
Mission Statement of Lotus Endowment Fund Inc
The Lotus Endowment Fund, Inc. serves as a supporting foundation for the Sundari Foundation, Inc. and its initiatives, with a particular focus on the Lotus House Women's Shelter. Its primary objective is to ensure the financial stability and long-term viability of the Sundari Foundation, thereby ensuring that the Lotus House will remain a resource for women, children, and youth in need for generations to come. The Lotus Endowment Fund owns and leases facilities to the Sundari Foundation, contributing significantly to the operational costs of the Lotus House. In addition, the fund owns vacant land and leases it to the Sundari Foundation, although no rental value is attributed to this lease. The endowment fund's mission is instrumental in providing a safe and secure environment for those in need, fostering resilience and hope for a better future.
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Impact
October, 2024
Lotus Endowment Fund Inc significantly impacts the community by providing essential financial support to the Sundari Foundation and its initiatives, particularly the Lotus House Women’s Shelter. This support ensures that the shelter can effectively serve women, children, and youth in need, creating a long-lasting resource for vulnerable populations in the Miami area.
By owning strategic properties and leasing them to the Sundari Foundation at a nominal rate, the Endowment Fund facilitates the operation of the shelter without the high overhead costs typically associated with facility management. The annual rental value of these properties, estimated at approximately $168,000, underscores the substantial financial relief provided to the foundation, allowing more resources to be directed toward services and programs for residents.
Additionally, the establishment of long-term leases, such as the 50-year agreement for the facilities, ensures the stability and sustainability of the services offered. This commitment not only preserves the shelter’s physical infrastructure but also fosters a supportive environment for individuals seeking assistance. The presence of the Lotus House serves as a vital refuge and resource, positively influencing the lives of those it supports and contributing to the overall health and resilience of the community.
This information is meant to be a general summary of Lotus Endowment Fund Inc. 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: $331,542
- Gross Receipts: $9,179,759
Assets and Liabilities:
- Total Assets: $68,843,457
- Total Liabilities: $45,910,013
- Net Assets: $22,933,444
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Organization Details
Founding Year
2007
Phone
(305) 613-1573Principal Officer
Constance Collins
Main Address
3921 ALTON ROAD 470, MIAMI BEACH, FL, 33140
Website
www.lotusendowment.orgNTEE Category
Code: L11 - Housing
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