Uncovering the Truth Behind Lucile Packard Foundation for Children’s Health 990: What You Need to Know
The Lucile Packard Foundation for Children’s Health (LPFCH) is a non-profit philanthropic organization that seeks to improve the wellbeing of children and families in the United States. As part of its mission, the Foundation files an annual IRS Form 990, which provides important financial and operational information to the public. In this article, we will uncover the truth behind LPFCH 990 and what you need to know about it.
What is Form 990?
Form 990 is an annual information return that tax-exempt organizations, such as LPFCH, are required to file with the IRS. The form is designed to provide the public with certain financial and operational information regarding the organization, including its mission, programs, and governance. The IRS makes Form 990 available for public inspection, which means that anyone can view it to gain insight into the organization’s activities and finances.
What Does LPFCH 990 Reveal?
LPFCH 990 provides important insights into the Foundation’s financial position, its programs and achievements, and its governance and control structures. Here are some key highlights from the LPFCH 990:
Revenue and Expenses
LPFCH’s revenue for the most recent year reported in the 990 was over $540 million, with most of the revenue coming from contributions and grants. This revenue was primarily used to fund the Foundation’s various programs and initiatives, including research, community outreach, and patient care. In total, LPFCH reported spending nearly $500 million in expenses for the year, demonstrating the scale and impact of its activities.
Programs and Achievements
LPFCH’s programs and achievements are highlighted in the 990, providing detailed information on the Foundation’s impact on children and families. In particular, LPFCH’s research programs have resulted in significant breakthroughs and advancements in pediatric medicine, contributing to the Foundation’s global reputation as a leading institution in this field. Additionally, the Foundation has invested heavily in community outreach and education initiatives, reflecting its commitment to engaging with families, caregivers, and communities to improve child health outcomes.
Governance and Controls
LPFCH’s governance and control structures are also detailed in the 990, providing transparency and accountability to stakeholders. The Foundation’s board of directors is made up of individuals with a variety of relevant backgrounds and expertise, providing diverse perspectives and guiding the organization’s strategic direction. Furthermore, LPFCH has implemented numerous policies and procedures to ensure that its resources are used effectively and efficiently, minimizing the risk of fraud and mismanagement.
Conclusion
LPFCH 990 provides valuable information about the Foundation’s financial position, programs, and governance. By filing this form and making it available for public inspection, LPFCH is demonstrating its commitment to transparency and accountability, and providing stakeholders with the information they need to make informed decisions. Overall, LPFCH’s 990 reveals an impressive and impactful organization that is making a real difference in the lives of children and families in the United States and beyond.
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