The William H Pitt Iii Foundation Inc
- Assets
- $49.0m
- Revenue
- $6.7m
- Investments
- $46.6m
- Employees
- 0
- Location
- West Palm Beach, FL
- Founding
- 03/1986
- Data as of
- 09/2023
- 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 09/2023, William H Pitt Iii Foundation Inc generated $6.7m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 10.2% each year . All expenses for the organization totaled $3.9m during the year ending 09/2023. While expenses have increased by 3.7% per year over the past 4 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.
Since 2015, William H Pitt Iii Foundation Inc has awarded 299 individual grants totaling $11,977,605. 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
2023
Describe the Organization's Program Activity:
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Larry Alexander Secretary | 5 | $90,603 | |
Kate Gubelmann Director | 2 | $14,064 | |
Charles Mallory Director | 1 | $14,064 | |
Pauline B Pitt President | 30 | $319,082 | |
Dr Samantha Boardman Director | 2 | $14,064 |
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 | $636,073 |
| Net Rental Income | $421,452 |
| Net Gain on Sale of Assets | $2,846,816 |
| Capital Gain Net Income | $2,846,816 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $2,734,821 |
| Total Revenue | $6,671,493 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $451,877 |
| Other employee salaries and wages | $141,365 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $290,169 |
| Depreciation | $32,331 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $39,003 |
| Total operating and administrative expenses | $1,188,071 |
| Contributions, gifts, grants paid | $2,740,000 |
| Total expenses and disbursements | $3,928,071 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $549,249 |
| 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 | $1,892,027 |
| Investments—mortgage loans | $0 |
| Investments—other | $19,874,930 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $49,024,744 |
| Accounts payable and accrued expenses | $0 |
| 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 | $217,901 |
| Total liabilities | $217,901 |
Grants Awarded
Over the last fiscal year, The William H Pitt Iii Foundation Inc has awarded $2,740,000 in support to 45 organizations.
| Grant Recipient | Amount |
|---|---|
ACHIEVEMENT FIRST PURPOSE: GENERAL | $280,000 |
AMERICAN MURAL PROJECT PURPOSE: GENERAL | $39,000 |
ALZHEIMER'S ASSOCIATION PURPOSE: GENERAL | $5,000 |
ANN NORTON SCULPTURE GARDENS PURPOSE: GENERAL | $30,000 |
ASPCA PURPOSE: GENERAL | $15,500 |
BOYS & GIRLS CLUB OF PALM BEACH COUNTY PURPOSE: GENERAL | $115,000 |