Murray C And Ina C Pitt Charitable Trust
- Assets
- $649.9k
- Revenue
- $195.7k
- Investments
- $370.9k
- Employees
- 0
- Location
- Southfield, MI
- Founding
- 06/1996
- Data as of
- 11/2023
- EIN
- 38-3268352
Organization Overview
Murray C And Ina C Pitt Charitable Trust is located in Southfield, MI. The organization was established in 1996. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Murray C And Ina C Pitt Charitable Trust 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 11/2023, Murray C And Ina C Pitt Charitable Trust generated $195.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (6.7%) each year. All expenses for the organization totaled $309.5k during the year ending 11/2023. As we would expect to see with falling revenues, expenses have declined by (16.4%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Murray C And Ina C Pitt Charitable Trust has awarded 303 individual grants totaling $3,278,616. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Murray C Pitt President | 2 | $0 | |
Ina C Pitt Vice President | 2 | $0 | |
Erin R Frankel Director | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $885 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $194,856 |
| Total Revenue | $195,741 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $2,079 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $28,443 |
| Total operating and administrative expenses | $33,522 |
| Contributions, gifts, grants paid | $275,950 |
| Total expenses and disbursements | $309,472 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $279,002 |
| Savings and temporary cash investments | $0 |
| 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 | $370,913 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $649,915 |
| 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 | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Murray C And Ina C Pitt Charitable Trust has awarded $275,950 in support to 25 organizations.
| Grant Recipient | Amount |
|---|---|
A WAY OUT PURPOSE: RESEARCH | $300 |
AMERICAN FRIENDS OF SHEBA MEDICAL CENTER PURPOSE: RESEARCH | $3,600 |
AMERICAN TECHNION SOCIETY PURPOSE: CHARITY | $25,000 |
CAP & CONQUER PURPOSE: CHARITY | $2,500 |
BRILLIANT DETROIT PURPOSE: CHARITY | $25,000 |
COLUMBIA GRAMMAR & PREP SCHOOL PURPOSE: CHARITY | $5,000 |