Lakemont Foundation

The Lakemont Foundation is a Monahan family private foundation in Seattle, Washington that functions as a dedicated giving vehicle for a single beneficiary: Our Lady of the Lake Parish in the Lakemont area of the greater Seattle-Bellevue region. Since at least 2011 (and likely since its 2008 incorporation), every single grant made by the foundation has gone to this one Catholic parish — exclusively for "ANNUAL FUND" support (and a 2012–2013 capital campaign).

The family leadership structure confirms this is a personal parish foundation: John M. Monahan serves as President and Trustee, with Ryan M. Monahan, Kevin M. Monahan (both Vice Presidents), and Rita M. Monahan (Secretary and likely John's spouse) rounding out the board. The foundation operates with minimal time commitments — officers collectively report less than 1.25 hours per week, reflecting a straightforward single-grantee operation.

The foundation's name "Lakemont" aligns with the Lakemont neighborhood in Bellevue, Washington, where Our Lady of the Lake is located — the naming connection confirms the family's deep parish ties. No outside grant applications are accepted, and the foundation has no public-facing presence beyond its IRS filings.

The Lakemont Foundation has made one grant per year (with two grants in 2013 for both capital campaign and annual fund) exclusively to Our Lady of the Lake Parish. Grant amounts have grown steadily: $30,000 in 2011, rising to $82,000–$100,000 during 2016–2018, peaking at $150,000 per year in 2021–2022, then declining to $97,500 in 2024. Total giving from 2011 through 2024 has been approximately $1.2M all directed to the same beneficiary.

Assets have grown from $1M in 2011 to $4.16M in 2024, fueled by regular annual contributions from the Monahan family. The pattern of $100,000–$200,000 in new contributions annually (matching or exceeding distributions) indicates this is an actively funded ongoing giving vehicle, not a one-time bequest. The family continues to contribute to the foundation each year while simultaneously distributing to their parish — reflecting a tax-advantaged strategy for ongoing tithing at scale.

Total distributions including administrative expenses run $1,000–$1,500 above the grant amount annually (total distributions of ~$97,500–$150,000 vs. grants of equal amounts), indicating an extremely lean operation with no staffing costs and minimal administrative overhead.

The Lakemont Foundation represents one of the most concentrated grantmaking patterns possible: 100% of all grants since 2011 to a single organization. This extreme concentration is uncommon even among family foundations — most family foundations supporting a single faith community make at least occasional gifts to related organizations. The Lakemont Foundation's single-grantee structure suggests a formal arrangement, possibly a donor intent statement or formal agreement with the parish.

Compared to peer Seattle-area faith-based foundations, Lakemont's scale is meaningful — $97,500 in a single year is substantial support for a parish. Our Lady of the Lake Parish serves the Lakemont neighborhood of Bellevue and is part of the Archdiocese of Seattle. Catholic parishes of this size typically have annual budgets of $1M–$2.5M, making the Monahan family's $97,500–$150,000 annual gift potentially representing 5–15% of the parish's operating revenue.

The Lakemont Foundation's consistent multi-year giving pattern demonstrates the value of a private foundation structure over direct gifts: it allows the family to smooth contributions (deducting in high-income years while distributing over time), maintain formal records, and create a charitable legacy tied to their parish community.

Based on FY2024 data (ending December 31, 2024 per Grantmakers.io filing from January 2026), the foundation awarded $97,500 to Our Lady of the Lake for its annual fund — a decrease from the $150,000 awarded in 2021, 2022, and 2023. The foundation received $48,258 in new contributions in 2024, down from $71,486 in 2023. This pattern of slightly reduced giving and lower incoming contributions may reflect changing family financial circumstances or a shift in charitable strategy.

The foundation's website (lakemont.org) shows only a generic "Coming Soon" placeholder — the domain is not associated with the Lakemont Foundation, confirming the foundation has no public web presence. All research was conducted through IRS 990-PF filings via Grantmakers.io.

No strategic changes, leadership transitions, or new grantee additions have been announced. The foundation has been in continuous single-grantee operation for at least 13 years.

The Lakemont Foundation does not accept outside applications. Its entire grant history consists of annual support to a single Catholic parish, and there is no evidence the foundation has ever made a grant to any other organization. Outreach to this foundation would be unproductive for virtually all grant seekers.

The only conceivable connection point would be through Our Lady of the Lake Parish itself or through personal connections to the Monahan family in the Bellevue/Seattle area. Given the deeply personal nature of this foundation's purpose — supporting the family's own faith community — even a warm introduction would be unlikely to shift the foundation's giving pattern.

This foundation is best understood as a sophisticated tithing vehicle rather than a traditional philanthropic foundation. Monitor IRS 990-PF filings via ProPublica Nonprofit Explorer for any changes in giving patterns, but no strategic shift appears likely in the near term.