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The Joe And Patty Lee Foundation

  • Iowa City, IA
  • Tax-exempt since March 2016
  • EIN: 47-5527477

Organization summary

Type of Nonprofit

Designated as a Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Category: Philanthropy, Voluntarism and Grantmaking Foundations / Private Grantmaking Foundations (NTEE)

Donations to this organization are tax deductible.

Summary charts: organization finances over time

Revenue
$58.9k (2024)

Expenses
$66.5k (2024)

Total Assets
$872k (2024)

Total Liabilities
$0 (2024)

Source: Form 990 tax filings from 2015 to 2024

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Dec.
2024

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$58,935
Expenses
$66,493
Net Income
-$7,558
Net Assets
$872,007
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $0
Interest Revenue $0
Dividends $31,507
53.5%
Sales of Assets $27,428
46.5%
Other Income $0
Notable Expenses Percent of Total Expenses
Charitable Disbursements $54,440
81.9%
Compensation of Officers* $0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $872,007
Total Liabilities $0
Net Assets $872,007
Compensation
Key Employees and Officers Compensation Other
Joseph D Lee (Vice President/Secretary) $0 $0
Patricia Lee (President/Treasurer) $0 $0
Mason Lee (Director) $0 $0
Mackenzie Lee Jacobson (Director) $0 $0
Connor Lee (Director) $0 $0
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Document Links

990-PF
Filed on May 13, 2025

Primary tax return for a private foundation's activities, finances, and governance

View Filing
XML

Fiscal Year Ending Dec.
2023

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
-$9,840
Expenses
$82,035
Net Income
-$91,875
Net Assets
$880,650
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $0
Interest Revenue $0
Dividends $31,069
Sales of Assets -$40,909
Other Income $0
Notable Expenses Percent of Total Expenses
Charitable Disbursements $65,750
80.1%
Compensation of Officers* $0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $880,650
Total Liabilities $0
Net Assets $880,650
Compensation
Key Employees and Officers Compensation Other
Joseph D Lee (Vice President/Secretary) $0 $0
Patricia Lee (President/Treasurer) $0 $0
Mason Lee (Director) $0 $0
Mackenzie Lee Jacobson (Director) $0 $0
Connor Lee (Director) $0 $0
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Document Links

990-PF
Filed on March 5, 2024

Primary tax return for a private foundation's activities, finances, and governance

View Filing
PDF XML

Fiscal Year Ending Dec.
2022

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$225,189
Expenses
$84,076
Net Income
$141,113
Net Assets
$973,750
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $0
Interest Revenue $0
Dividends $28,474
12.6%
Sales of Assets $196,715
87.4%
Other Income $0
Notable Expenses Percent of Total Expenses
Charitable Disbursements $72,110
85.8%
Compensation of Officers* $0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $973,750
Total Liabilities $0
Net Assets $973,750
Compensation
Key Employees and Officers Compensation Other
Joseph D Lee (Vice President/Secretary) $0 $0
Patricia Lee (President/Treasurer) $0 $0
Mason Lee (Director) $0 $0
Mackenzie Lee Jacobson (Director) $0 $0
Connor Lee (Director) $0 $0
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Document Links

990-PF
Filed on May 12, 2023

Primary tax return for a private foundation's activities, finances, and governance

View Filing
PDF XML

Fiscal Year Ending Dec.
2021

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$183,792
Expenses
$85,398
Net Income
$98,394
Net Assets
$827,637
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $0
Interest Revenue $3,591
2.0%
Dividends $25,842
14.1%
Sales of Assets $154,359
84.0%
Other Income $0
Notable Expenses Percent of Total Expenses
Charitable Disbursements $64,838
75.9%
Compensation of Officers* $0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $827,637
Total Liabilities $0
Net Assets $827,637
Compensation
Key Employees and Officers Compensation Other
Joseph D Lee (Vice President/Secretary) $0 $0
Patricia Lee (President/Treasurer) $0 $0
Mason Lee (Director) $0 $0
Mackenzie Lee Jacobson (Director) $0 $0
Connor Lee (Director) $0 $0
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Document Links

990-PF
Filed on April 25, 2022

Primary tax return for a private foundation's activities, finances, and governance

View Filing
XML

Fiscal Year Ending Dec.
2020

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$15,037
Expenses
$71,366
Net Income
-$56,329
Net Assets
$729,242
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $0
Interest Revenue $3,399
22.6%
Dividends $22,847
> 100%
Sales of Assets $0
Other Income $0
Notable Expenses Percent of Total Expenses
Charitable Disbursements $53,990
75.7%
Compensation of Officers* $0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $729,243
Total Liabilities $1
Net Assets $729,242
Compensation
Key Employees and Officers Compensation Other
Joseph D Lee (Vice President/Secretary) $0 $0
Patricia Lee (President/Treasurer) $0 $0
Mason Lee (Director) $0 $0
Mackenzie Lee Jacobson (Director) $0 $0
Connor Lee (Director) $0 $0
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Document Links

990-PF
Filed on May 6, 2021

Primary tax return for a private foundation's activities, finances, and governance

View Filing
XML

Fiscal Year Ending Dec.
2019

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$59,412
Expenses
$80,424
Net Income
-$21,012
Net Assets
$785,582
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $0
Interest Revenue $256
0.4%
Dividends $28,669
48.3%
Sales of Assets $30,487
51.3%
Other Income $0
Notable Expenses Percent of Total Expenses
Charitable Disbursements $62,957
78.3%
Compensation of Officers* $0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $785,583
Total Liabilities $1
Net Assets $785,582
Compensation
Key Employees and Officers Compensation Other
Joseph D Lee (Vice President/Secretary) $0 $0
Patricia Lee (President/Treasurer) $0 $0
Mason Lee (Director) $0 $0
Mackenzie Lee Jacobson (Director) $0 $0
Connor Lee (Director) $0 $0
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Document Links

990-PF
Filed on May 18, 2020

Primary tax return for a private foundation's activities, finances, and governance

View Filing
PDF XML

Fiscal Year Ending Dec.
2018

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$35,133
Expenses
$61,312
Net Income
-$26,179
Net Assets
$806,584
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $0
Interest Revenue $222
0.6%
Dividends $30,361
86.4%
Sales of Assets $4,550
13.0%
Other Income $0
Notable Expenses Percent of Total Expenses
Charitable Disbursements $44,365
72.4%
Compensation of Officers* $0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $806,584
Total Liabilities $0
Net Assets $806,584
Compensation
Key Employees and Officers Compensation Other
Joseph D Lee (Vice President/Secretary) $0 $0
Patricia Lee (President/Treasurer) $0 $0
Mason Lee (Director) $0 $0
Mackenzie Lee Jacobson (Director) $0 $0
Connor Lee (Director) $0 $0
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Document Links

990-PF
Filed on March 21, 2019

Primary tax return for a private foundation's activities, finances, and governance

View Filing
PDF XML

Fiscal Year Ending Dec.
2017

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$99,281
Expenses
$52,301
Net Income
$46,980
Net Assets
$832,763
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $6,152
6.2%
Interest Revenue $35
0.0%
Dividends $28,603
28.8%
Sales of Assets $64,491
65.0%
Other Income $0
Notable Expenses Percent of Total Expenses
Charitable Disbursements $23,740
45.4%
Compensation of Officers* $0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $832,763
Total Liabilities $0
Net Assets $832,763
Compensation
Key Employees and Officers Compensation Other
Joseph D Lee (Vice President/Secretary) $0 $0
Patricia Lee (President/Treasurer) $0 $0
Mason Lee (Director) $0 $0
Mackenzie Lee Jacobson (Director) $0 $0
Connor Lee (Director) $0 $0
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Document Links

990-PF
Filed on May 11, 2018

Primary tax return for a private foundation's activities, finances, and governance

View Filing
PDF XML

Fiscal Year Ending Dec.
2016

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$825,533
Expenses
$20,189
Net Income
$805,344
Net Assets
$785,783
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $508,919
61.6%
Interest Revenue $3
0.0%
Dividends $16,598
2.0%
Sales of Assets $300,013
36.3%
Other Income $0
Notable Expenses Percent of Total Expenses
Charitable Disbursements $13,109
64.9%
Compensation of Officers* $0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $785,783
Total Liabilities $0
Net Assets $785,783
Compensation
Key Employees and Officers Compensation Other
Joseph D Lee (Vice President/Secretary) $0 $0
Patricia Lee (President/Treasurer) $0 $0
Mason Lee (Director) $0 $0
Mackenzie Lee Jacobson (Director) $0 $0
Connor Lee (Director) $0 $0
+ View more people

Document Links

990-PF
Filed on May 8, 2017

Primary tax return for a private foundation's activities, finances, and governance

View Filing
PDF XML

Fiscal Year Ending Dec.
2015

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$521,242
Expenses
$3,538
Net Income
$517,704
Net Assets
$224,623
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $521,242
100%
Interest Revenue $0
Dividends $0
Sales of Assets $0
Other Income $0
Notable Expenses Percent of Total Expenses
Charitable Disbursements $3,538
100%
Compensation of Officers* $0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $224,623
Total Liabilities $0
Net Assets $224,623

Document Links

990-PF

Primary tax return for a private foundation's activities, finances, and governance

PDF

About This Data

What Is This Data?

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

In addition to the raw summary data, we link to PDFs and digital copies of full Form 990 documents wherever possible. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly.

We also link to copies of audits nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year since 2016. These audits are copied from the Federal Audit Clearinghouse.

Which Organizations Are Here?

Every organization that has been recognized as tax exempt by the IRS has to file Form 990 every year, unless they make less than $200,000 in revenue and have less than $500,000 in assets, in which case they have to file form 990-EZ. Organizations making less than $50,000 don’t have to file either form but do have to let the IRS they’re still in business via a Form 990N "e-Postcard."

Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. Taxable trusts and private foundations that are required to file a form 990PF are also included. Small organizations filing a Form 990N "e-Postcard" are not included in this data.

Types of Nonprofits

There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. See the list »

Get the Data

For those interested in acquiring the original data from the source, here’s where our data comes from:

  • Raw filing data. Includes EINs and summary financials as structured data.
  • Exempt Organization profiles. Includes organization names, addresses, etc. You can merge this with the raw filing data using EIN numbers.
  • Form 990 documents. Prior to 2017, these documents were obtained and processed by Public.Resource.org and ProPublica. Bulk PDF downloads since 2017 are available from the IRS.
  • Form 990 documents as XML files. Includes complete filing data (financial details, names of officers, tax schedules, etc.) in machine-readable format. Only available for electronically filed documents. Electronic data released prior to October 2021 is also available through Amazon Web Services.
  • Audits. PDFs of single or program-specific audits for nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year. Available for fiscal year 2015 and later.

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Nonprofit Explorer

Browse millions of annual returns filed by tax-exempt organizations with ProPublica’s Nonprofit Explorer. See details like executive compensation, revenue, expenses and more. Search for an organization or a person, or search the full text of filings.

By Andrea Suozzo, Alec Glassford, Ash Ngu and Brandon Roberts.

Design by Jeff Frankl. Additional development by Ken Schwencke, Mike Tigas, and Sisi Wei.

E-file viewer adapted from IRS e-File Viewer by Ben Getson. Code for scraping audit documents adapated from Govwiki.

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