Dietrich Foundation
- Assets
- $1.4b
- Revenue
- $93.5m
- Investments
- $1.3b
- Employees
- 15
- Location
- Pittsburgh, PA
- Founding
- 06/2012
- Data as of
- 12/2020
- EIN
- 36-4711746
Organization Overview
Dietrich Foundation is located in Pittsburgh, PA. The organization was established in 2012. 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. As of 12/2021, Dietrich Foundation employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Dietrich Foundation 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 12/2020, Dietrich Foundation generated $93.5m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.3% each year. All expenses for the organization totaled $36.3m during the year ending 12/2020. While expenses have increased by 6.5% per year over the past 6 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 2014, Dietrich Foundation has awarded 116 individual grants totaling $207,115,086. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO BENEFIT HIGHER EDUCATION AND OTHER CHARITABLE PURPOSES BY PROVIDING ONGOING AND INCREASING FINANCIAL SUPPORT TO 13 SUPPORTED ORGANIZATIONS.
Describe the Organization's Program Activity:
PER THE DECLARATION OF TRUST DATED AUGUST 23, 2011 OF WILLIAM S. DIETRICH II REVOCABLE TRUST AND THE DIETRICH FOUNDATION (THE "TRUST"), THE FOUNDATION DISTRIBUTES ANNUALLY, OR MORE FREQUENTLY, AN AMOUNT FROM NET INCOME EQUAL TO SUBSTANTIALLY ALL (AT LEAST 85%) OF ITS ANNUAL NET INCOME (AS DEFINED IN THE TRUST). IN THE EVENT THAT THE TOTAL AMOUNT DISTRIBUTED ANNUALLY UNDER THIS REQUIREMENT SHOULD CONSISTENTLY FALL BELOW A RATE OF 3%, THE ANNUAL DISTRIBUTION AMOUNT WILL APPROXIMATE 3% OF THE FAIR VALUE OF THE FOUNDATION'S ASSETS (NET OF ACQUISITION INDEBTEDNESS) AS DETERMINED ON JANUARY 1 OF EACH YEAR. IN MAY 2021, THE FOUNDATION MADE ITS ANNUAL DISTRIBUTION TO ITS SUPPORTED ORGANIZATIONS EQUAL TO 3.0% OF NET ASSETS AS CALCULATED AT JANUARY 1, 2020.
PER THE DECLARATION OF TRUST DATED AUGUST 23, 2011 OF WILLIAM S. DIETRICH II REVOCABLE TRUST AND THE DIETRICH FOUNDATION (THE "TRUST"), THE FOUNDATION DISTRIBUTES ANNUALLY, OR MORE FREQUENTLY, AN AMOUNT FROM NET INCOME EQUAL TO SUBSTANTIALLY ALL (AT LEAST 85%) OF ITS ANNUAL NET INCOME (AS DEFINED IN THE TRUST). IN THE EVENT THAT THE TOTAL AMOUNT DISTRIBUTED ANNUALLY UNDER THIS REQUIREMENT SHOULD CONSISTENTLY FALL BELOW A RATE OF 3%, THE ANNUAL DISTRIBUTION AMOUNT WILL APPROXIMATE 3% OF THE FAIR VALUE OF THE FOUNDATION'S ASSETS (NET OF ACQUISITION INDEBTEDNESS) AS DETERMINED ON JANUARY 1 OF EACH YEAR. IN MAY 2021, THE FOUNDATION MADE ITS ANNUAL DISTRIBUTION TO ITS SUPPORTED ORGANIZATIONS EQUAL TO 3.0% OF NET ASSETS AS CALCULATED AT JANUARY 1, 2020.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Edward J Grefenstette Community Trustee, Preside | OfficerTrustee | 40 | $1,995,072 |
Ryan L Vaccaro Managing Director | 40 | $628,245 | |
Matthew W Rozyczka Managing Director | 40 | $573,245 | |
Lee S Tilghman Managing Director | 40 | $545,843 | |
Nancy A Watson Vice President Of Finance | 40 | $282,620 | |
Mark J Laskow Community Trustee/chairman | Trustee | 1 | $50,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Blue Heron Management Accounting & Admin. Svcs | 12/30/14 | $319,425 |
Acadian Asset Management Investment Management | 12/30/14 | $437,431 |
K&l Gates Legal Counsel | 12/30/14 | $220,105 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $3,084,276 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $90,391,916 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $93,476,192 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $4,337,021 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $328,645 |
| Pension plan accruals and contributions | $18,871 |
| Other employee benefits | $25,581 |
| Payroll taxes | $122,915 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $49,825 |
| Fees for services: Accounting | $67,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $471,168 |
| Fees for services: Other | $107,593 |
| Advertising and promotion | $0 |
| Office expenses | $28,075 |
| Information technology | $68,016 |
| Royalties | $0 |
| Occupancy | $146,241 |
| Travel | $24,132 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,618 |
| Interest | $593,811 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $61,116 |
| Insurance | $60,564 |
| All other expenses | $0 |
| Total functional expenses | $36,308,487 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,196,768 |
| Savings and temporary cash investments | $5,912,148 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $66,315,365 |
| Investments—other securities | $1,345,917,895 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,276,656 |
| Total assets | $1,425,693,584 |
| Accounts payable and accrued expenses | $423,221 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $2,000,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,808,350 |
| Total liabilities | $6,231,571 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $1,419,462,013 |
Grants Awarded
Over the last fiscal year, Dietrich Foundation has awarded $64,494,156 in support to 26 organizations.
| Grant Recipient | Amount |
|---|---|
Pittsburgh, PA PURPOSE: SCIENCE PROGRAMS, STUDENT WELLNESS, FACULTY NEEDS | $17,252,186 |
Pittsburgh, PA PURPOSE: SCIENCE PROGRAMS, STUDENT WELLNESS, FACULTY NEEDS | $17,252,186 |
Pittsburgh, PA PURPOSE: UNDERGRADUATE STUDENT SUPPORT | $8,061,770 |
Pittsburgh, PA PURPOSE: UNDERGRADUATE STUDENT SUPPORT | $8,061,770 |
Greenville, PA PURPOSE: HONORS COLLEGE CURRICULUM | $1,612,354 |
Greenville, PA PURPOSE: HONORS COLLEGE CURRICULUM | $1,612,354 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
William Penn Foundation Philadelphia, PA | $0 | $175,834,650 |
The Heinz Endowments Pittsburgh, PA | $0 | $54,378,087 |
Druckenmiller Foundation New York, NY | $1,579,806,367 | $402,828,458 |
Rockefeller Brothers Fund Inc New York, NY | $1,654,004,790 | $94,665,303 |
Anna Maria And Stephen Kellen Foundation Inc New York, NY | $1,287,407,560 | $57,361,611 |
The Wallace Foundation New York, NY | $1,815,949,042 | $114,535,478 |
George Gund Foundation Cleveland, OH | $524,945,754 | $120,923,136 |
Oberkotter Foundation Philadelphia, PA | $83,021,123 | $23,009,013 |
Stephen A Schwarzman Foundation New York, NY | $124,156,635 | $61,557,254 |
Pepsico Foundation Inc Purchase, NY | $25,033,678 | $1,734,936 |
Pnc Foundation Pittsburgh, PA | $218,373,148 | $3,451,991 |
Foundation Mireille And James Levy Usa New York, NY | $36,878,233 | $277,701 |