Rite-Hite Corporation Foundation Inc
- Assets
- $20.6m
- Revenue
- $872.1k
- Investments
- $20.6m
- Employees
- 0
- Location
- Milwaukee, WI
- Founding
- 08/1985
- Data as of
- 12/2021
- EIN
- 39-1522057
The information for Rite-Hite Corporation Foundation Inc is as of the organization's most recent filing in December '21. This organization is located in Milwaukee, WI. It has been in existence for 36 years, following its founding in 1985.
Organization Classification
The IRS classifies organizations according to the National Taxonomy of Exempt Entities (NTEE) system. The NTEE system helps the IRS assign a 3-character code to each organization to describe the organization's activities.
The Rite-Hite Corporation Foundation Inc's NTEE code is T20. This means that the organization is classified as a Philanthropy, Voluntarism & Grantmaking Foundation. As a Private Grantmaking Foundation, the Rite-Hite Corporation Foundation Inc is a nongovernmental, nonprofit organization with funds and programs managed by its own trustees or directors. It is established to maintain or aid social, educational, religious, or other charitable activities serving the common welfare, primarily through grantmaking. Additionally, the organization is classified as a 501(c)(3) organization according to the Internal Revenue Code, indicating that it is engaged in Religious, Educational, Charitable, Scientific, Literary, Public Safety, Amateur Sports, or Prevention of Cruelty to Children or Animals work.
Grant History
Our dataset includes six years of grant history for the Rite-Hite Corporation Foundation Inc. Over the course of those six years, they have awarded a total of 422 grants, with an average check size of $13,261. The organization has a high average number of grants awarded each year, with an average of 70 grants. The Rite-Hite Corporation Foundation Inc. awards grants in a variety of sectors, with the highest number of grants awarded in the Human Services sector (38), followed closely by Health Care (36) and Arts, Culture & Humanities (34). In terms of geographical distribution, the organization primarily awards grants in Wisconsin (286), with smaller numbers of grants awarded in states such as Colorado (24), Arizona (23), and California (16), among others.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Antonio P Catalano Secretary | 5 | $0 | |
Michael H White Director/ President | 5 | $0 | |
Mark S Kirkish Director/ Treasurer | 5 | $0 | |
Steven P Masters CEO | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $377,910 |
| Interest on Savings | $0 |
| Dividends & Interest | $219,526 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $274,678 |
| Capital Gain Net Income | $274,678 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $872,114 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $2,477 |
| Taxes | $5,254 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $6,868 |
| Total operating and administrative expenses | $116,426 |
| Contributions, gifts, grants paid | $647,450 |
| Total expenses and disbursements | $763,876 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $25,500 |
| 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 | $20,560,713 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $20,586,213 |
| 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, Rite-Hite Corporation Foundation Inc has awarded $647,450 in support to 66 organizations.
| Grant Recipient | Amount |
|---|---|
Milwaukee, WI PURPOSE: THE RITE-HITE FOUNDATION MAKES CONTRIBUTIONS FOR THE GENERAL CHARITABLE ACTIVITIES OF THE RECIPIENTS LISTED. THE FOUNDATION HAS NOT DESIGNATED THESE CONTRIBUTIONS FOR SPECIFIC PURPOSES. | $309,500 |
WISCONSIN INSTITUTE FOR LAW AND LIBERTY PURPOSE: THE RITE-HITE FOUNDATION MAKES CONTRIBUTIONS FOR THE GENERAL CHARITABLE ACTIVITIES OF THE RECIPIENTS LISTED. THE FOUNDATION HAS NOT DESIGNATED THESE CONTRIBUTIONS FOR SPECIFIC PURPOSES. | $122,000 |
Milwaukee, WI PURPOSE: THE RITE-HITE FOUNDATION MAKES CONTRIBUTIONS FOR THE GENERAL CHARITABLE ACTIVITIES OF THE RECIPIENTS LISTED. THE FOUNDATION HAS NOT DESIGNATED THESE CONTRIBUTIONS FOR SPECIFIC PURPOSES. | $25,000 |
Milwaukee, WI PURPOSE: THE RITE-HITE FOUNDATION MAKES CONTRIBUTIONS FOR THE GENERAL CHARITABLE ACTIVITIES OF THE RECIPIENTS LISTED. THE FOUNDATION HAS NOT DESIGNATED THESE CONTRIBUTIONS FOR SPECIFIC PURPOSES. | $24,250 |
UNITED WAY OF DUBUQUE PURPOSE: THE RITE-HITE FOUNDATION MAKES CONTRIBUTIONS FOR THE GENERAL CHARITABLE ACTIVITIES OF THE RECIPIENTS LISTED. THE FOUNDATION HAS NOT DESIGNATED THESE CONTRIBUTIONS FOR SPECIFIC PURPOSES. | $12,000 |
UNITED WAY OF GREATER MILWAUKEE - COVID-19 FUND PURPOSE: THE RITE-HITE FOUNDATION MAKES CONTRIBUTIONS FOR THE GENERAL CHARITABLE ACTIVITIES OF THE RECIPIENTS LISTED. THE FOUNDATION HAS NOT DESIGNATED THESE CONTRIBUTIONS FOR SPECIFIC PURPOSES. | $12,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Otto Bremer Trust St Paul, MN | $1,543,197,073 | $135,875,116 |
Fulk Family Foundation Inc Chicago, IL | $111,507,856 | $5,187,231 |
The Robert D And Patricia E Kern Family Foundation Inc Waukesha, WI | $717,991,169 | $43,480,423 |
Grainger Foundation Inc Lake Forest, IL | $184,158,239 | $17,016,007 |
Zell Family Foundation Chicago, IL | $0 | $76,843,080 |
The Richard M Schulze Family Foundation Minneapolis, MN | $250,424,427 | $45,882,285 |
Fred C And Katherine B Andersen Foundation Bayport, MN | $1,210,701,778 | $63,445,932 |
Abbvie Foundation North Chicago, IL | $72,211,109 | $4,010,058 |
Caterpillar Foundation Peoria, IL | $93,606,659 | $54,411,827 |
Circle Of Service Foundation Chicago, IL | $697,372,085 | $55,153,209 |
Allstate Foundation Northbrook, IL | $112,475,932 | $31,277,614 |
The Meijer Foundation Grand Rapids, MI | $118,103,895 | $43,970,388 |