Robert B Cranston & Theophilus T Pitman Fund
- Assets
- $1.3m
- Revenue
- $400.8k
- Investments
- $1.3m
- Employees
- 0
- Location
- Newport, RI
- Founding
- 05/1974
- Data as of
- 12/2021
- EIN
- 05-6008897
Organization Overview
Robert B Cranston & Theophilus T Pitman Fund is located in Newport, RI. The organization was established in 1974. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.
For the year ending 12/2021, Robert B Cranston & Theophilus T Pitman Fund generated $400.8k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 26.4% each year . All expenses for the organization totaled $512.0k during the year ending 12/2021. While expenses have increased by 32.8% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION'S ONLY FUNCTION IS TO ASSIST AGED AND INDIGENT PEOPLE IN THE COMMUNITY. INDIVIDUALS/FAMILIES ASSISTED DURING 2021 TOTALED 596.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jack Grant Director | 10 | $4,000 | |
Gregory Fater Trustee | 2 | $3,000 | |
Vernon Harvey Trustee | 2 | $2,000 | |
John H Ellis Trustee | 2 | $2,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $111,653 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $289,163 |
| Capital Gain Net Income | $289,163 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $400,816 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $11,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,168 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $321 |
| Total operating and administrative expenses | $17,019 |
| Contributions, gifts, grants paid | $494,934 |
| Total expenses and disbursements | $511,953 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $21,436 |
| Savings and temporary cash investments | $15,452 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,333,986 |
| Accounts payable and accrued expenses | $5,501 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $5,501 |
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|---|---|---|
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The Patrick J Mcgovern Foundation Inc Boston, MA | $1,660,673,846 | $20,910,577 |
One8 Foundation Boston, MA | $488,764,350 | $32,279,319 |
Flatley Foundation Braintree, MA | $730,489,671 | $65,780,367 |
Iiegn Family Foundation Boston, MA | $7,705,932 | $1,021,594 |
Ge Foundation Norwalk, CT | $5,053,086 | $27,501,215 |
State Street Foundation Inc Boston, MA | $7,590,446 | $6,540 |
Edward C Johnson Fund Boston, MA | $418,919,628 | $48,451,859 |
Broad Reach Foundation Boston, MA | $154,449,873 | $51,427,992 |
Tjx Foundation Inc Framingham, MA | $84,142,448 | $26,109,203 |