FLORENCE, SC

Drs Bruce & Lee Foundation

Quick Facts

EIN: 570902483
Location: FLORENCE, SC
Category: Philanthropy & Grantmaking
Total Assets: $255.4M
Annual Income: $32.5M
IRS Ruling Year: 2001
Organization Type: Corporation
Tax Deductibility: Contributions are deductible

About This Foundation

Drs Bruce & Lee Foundation is a private corporation based in FLORENCE, SC. The foundation received its IRS ruling in 2001. It holds total assets of $255.4M. Annual income is reported at $32.5M. The foundation operates in the area of philanthropy & grantmaking. Contributions to this foundation are tax-deductible.

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Financial Overview

Total Giving

$5.4M

2023-15%

Total Assets

$235.6M

2023+11%

Fair Market Value

$235.9M

2023

Net Worth

$230.8M

2023

Grants Paid

$3M

2023

Contributions

2023

Net Investment Income

$5.9M

2023

Distribution Amount

$9.6M

2023

Total Giving by Year

$3M

$6.5M

$10.1M

$3.6M

$3.5M

$2.9M

$2.7M

$17.2M

$6.4M

$5.4M

Asset Growth

$140.8M

$157.5M

$177.4M

$181.3M

$173.8M

$212.8M

$225.2M

$254.1M

$212.3M

$235.6M

Investment Portfolio (2023)

Total: $0

Other Investments: $196.9M

Cash: $911K

Other Investments (100%)

Cash (0%)

Expense Breakdown (2023)

Grants Paid$3M

Officer Compensation$525K

Depreciation$203K

Pension & Benefits$148K

Accounting Fees$57K

Legal Fees$21K

Travel & Conferences$7K

Revenue Sources (2023)

Dividends: $5M
Gross Rents: $1.3M
Capital Gains (Net): $257K
Other Income: $18

Financial Details (2023)

Total Revenue: $6.5M
Total Expenses: $5.4M
Exempt Purpose Expenses: $6.5M
Required Distribution: $9.6M
Undistributed Income: $9M
Grants Approved (Future): $2.6M
Total Liabilities: $4.8M
Excise Tax: $81K

Foundation Classification (2023)

Operating FoundationGrants to IndividualsNon-Charity GrantsLobbying ActivityExcess Business Holdings

Grantmaking Insights

Total Grants

Total Giving

$6.9M

Average Grant

$178K

Median Grant

$30K

Total Giving by Year

$2M (20 grants)

$4.9M (19 grants)

Grant Range

Min$2K

Max$2.8M

Median: $30K

Smallest grantLargest grant

Openness to New Grantees (2023)

56%

of 2023 grantees were first-time recipients

Geographic Distribution of Grants

SC: $6.9M (38)

GA: $10K (1)

SC$6.9M (38)

GA$10K (1)

Past Grantees

Recipient	Location	Amount	Year
Francis Marion University Education FoundationMEDICAL EDUCATION INITIATIVES	Florence, SC	$2.8M	2023
Florence CountyLAKE CITY PARK LAKE	Florence, SC	$1M	2023
Harvest Hope Food BankSUPPORT RELOCATION OF DISTRIBUTION CENTER	Florence, SC	$500K	2023
Florence-Darlington Technical College FoundationALLIED HEALTH SCHOLARSHIPS FOR 2023-2024 ACADEMIC YEAR	Florence, SC	$100K	2023
Francis Marion University Education FoundationBSN NURSING SCHOLARSHIPS FOR THE 2023-2024 ACADEMIC YEAR	Florence, SC	$100K	2023
Florence MuseumGEN. FRANCIS MARION EXHIBIT	Florence, SC	$78K	2023
Fred H Sexton American Legion Post 1RENOVATIONS/ IMPROVEMENTS TO THE LEGION BASEBALL FIELD	Florence, SC	$70K	2023
City Of FlorencePICKLE BALL COURT CONVERSION AT TIMROD PARK	Florence, SC	$70K	2023
City Of FlorenceFUNDING FOR WWII STATUE (US ARMY AIR CORPS) AT VETERANS PARK	Florence, SC	$63K	2023
Salvation Army2023 EMPTY STOCKING FUND	Florence, SC	$30K	2023
Francis Marion University Education FoundationFMU FACULTY/STAFF LEADERSHIP DEVELOPMENT/RETENTION FUND	Florence, SC	$25K	2023
Jonathan C Smith Foundation For Bipolar Teens (Dba The Jonathan Foundation)GENERAL SUPPORT	Columbia, SC	$25K	2023
Archeological Institute Of The Pee DeeSNOW'S ISLAND SURVEY ARCHEOLOGICAL SURVEY	Florence, SC	$20K	2023
Lake City Creative AllianceSUPPORT FOR 2023 ARTFIELDS PROGRAM IN LAKE CITY, SC	Lake City, SC	$20K	2023
Senior Citizens Association2023 THANKSGIVING BLESSING MEAL FOR FLORENCE COUNTY SENIORS	Florence, SC	$20K	2023
South Carolina Governor'S School For Science And Math FoundationADDITIONAL ENDOWMENT FUNDING FOR FLORENCE COUNTY STUDENTS	Columbia, SC	$20K	2023
The Manna House IncFUNDING TO SUPPORT INCREASED DEMAND FOR SERVICES	Florence, SC	$20K	2023
Help4kidsFOOD SUPPORT FOR CHILDREN IN FLORENCE COUNTY PUBLIC SCHOOLS	Florence, SC	$5K	2023
Wisdom Players Senior Theatre CompanyFUNDING FOR DINNER THEATRE SUPPORTING SENIOR CITIZENS TALENTS	Florence, SC	$5K	2023
City Of FlorenceHEADQUARTERS BUILDING AT SOCCER COMPLEX	Florence, SC	$1M	2020
Francis Marion University Education FoundationFUNDING FOR RENOVATION AT 142 NORTH DARGAN STREET	Florence, SC	$250K	2020
Lighthouse MinistriesGENERAL SUPPORT	Florence, SC	$150K	2020
Mental Health America Of South CarolinaGENERAL SUPPORT	Florence, SC	$125K	2020
Florence-Darlington Technical College FoundationALLIED HEALTH SCHOLARSHIPS	Florence, SC	$100K	2020
Francis Marion University Education FoundationNURSING SCHOLARSHIPS	Florence, SC	$100K	2020
Pee Dee Coalition Against Domestic And Sexual ViolenceGENERAL SUPPORT	Florence, SC	$80K	2020
Florence Symphony OrchestraCOVID-19 GRANT	Florence, SC	$35K	2020
Mercy Medicine ClinicGENERAL SUPPORT	Florence, SC	$31K	2020
Salvation Army2020 EMPTY STOCKING FUND	Florence, SC	$30K	2020
Francis Marion University Education FoundationFACULTY AND STAFF RETENTION FUND	Florence, SC	$25K	2020
Lake City Creative AllianceANNUAL ART COMPETITION	Lake City, SC	$16K	2020
Senior Citizens Association2020 ANNUAL THANKSGIVING BLESSING LUNCHEON FOR SENIORS	Florence, SC	$12K	2020
Southeastern Council Of FoundationsGENERAL SUPPORT	Atlanta, GA	$10K	2020
City Of Florence Police FundGENERAL SUPPORT	Florence, SC	$10K	2020
South Florence High School Booster ClubCONSTRUCTION OF A LOCKER ROOM/CLUBHOUSE	Florence, SC	$10K	2020
Help4kidsGENERAL SUPPORT	Florence, SC	$5K	2020
Alliance For A Healthier South CarolinaGENERAL SUPPORT	Columbia, SC	$2K	2020
South Carolina Grantmakers NetworkGENERAL SUPPORT	Columbia, SC	$2K	2020
Together ScGENERAL SUPPORT	Columbia, SC	$2K	2020