The William H Pitt Iii Foundation Inc
- Assets
- $50.4m
- Revenue
- $3.7m
- Investments
- $46.7m
- Employees
- 0
- Location
- West Palm Beach, FL
- Founding
- 03/1986
- Data as of
- 09/2021
- EIN
- 22-2570737
Organization Overview
The William H Pitt Iii Foundation Inc is located in West Palm Beach, FL. The organization was established in 1986. 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. William H Pitt Iii Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2021, William H Pitt Iii Foundation Inc generated $3.7m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 49.5% each year . All expenses for the organization totaled $3.3m during the year ending 09/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, William H Pitt Iii Foundation Inc has awarded 220 individual grants totaling $7,322,605. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Pauline B Pitt President | 30 | $283,972 | |
Larry B Alexander Secretary | 5 | $87,964 | |
Charles Mallory Director | 1 | $7,032 | |
Kate Gubelmann Director | 2 | $7,032 | |
Lesly S Smith Director | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Jones Foster | 9/29/20 | $55,760 |
Ceo & Cfo Consulting Services Inc | 9/29/20 | $51,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $647,446 |
| Net Rental Income | $403,192 |
| Net Gain on Sale of Assets | $1,955,724 |
| Capital Gain Net Income | $1,955,724 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $695,429 |
| Total Revenue | $3,734,521 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $386,000 |
| Other employee salaries and wages | $126,690 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $75,624 |
| Depreciation | $32,730 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $38,234 |
| Total operating and administrative expenses | $1,019,989 |
| Contributions, gifts, grants paid | $2,300,000 |
| Total expenses and disbursements | $3,319,989 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $592,053 |
| Savings and temporary cash investments | $1,090,709 |
| 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 | $1,956,689 |
| Investments—mortgage loans | $0 |
| Investments—other | $18,979,466 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $50,365,660 |
| Accounts payable and accrued expenses | $462 |
| 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 | $62,704 |
| Total liabilities | $63,166 |
Grants Awarded
Over the last fiscal year, The William H Pitt Iii Foundation Inc has awarded $2,300,000 in support to 46 organizations.
| Grant Recipient | Amount |
|---|---|
YMCA OF THE PALM BEACHES PURPOSE: GENERAL | $350,000 |
New Haven, CT PURPOSE: GENERAL | $325,000 |
PEGGY ADAMS ANIMAL RESCUE LEAGUE PURPOSE: GENERAL | $311,800 |
West Palm Beach, FL PURPOSE: GENERAL | $250,000 |
West Palm Beach, FL PURPOSE: GENERAL | $111,000 |
Fairfield, CT PURPOSE: GENERAL | $100,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bobbie Bailey Foundation Inc Tucker, GA | $24,485,053 | $1,564,197 |
Yhwh Foundation Inc Carrollton, GA | $0 | $14,288,691 |
Miriam U Hoover Foundation Vero Beach, FL | $0 | $462,542 |
Dr Herbert And Nicole Wertheim Family Foundation Inc Miami, FL | $42,831,898 | $5,245,016 |
Quality Senior Housing Foundation Of East Texas Inc Atlanta, GA | $68,762,519 | $14,924,948 |
The Mary Alice Fortin Foundation Palm Beach, FL | $167,401,142 | $8,209,363 |
Zeist Foundation Inc Atlanta, GA | $306,093,080 | $21,313,980 |
Anverse Inc Cartersville, GA | $0 | $25,436,325 |
Louis And Gloria Flanzer Philantrhopic Tr Sarasota, FL | $95,188,629 | $13,796,000 |
Uga Real Estate Foundation Inc Athens, GA | $310,229,529 | $14,839,274 |
The Gary W Rollins Foundation Atlanta, GA | $72,624,629 | $27,015,806 |
Theodore R & Vivian M Johnson Scholarship Foundation Inc West Palm Beach, FL | $0 | $7,841,898 |