Wm I H & Lula E Pitts Foundation
- Assets
- $50.8m
- Revenue
- $1.8m
- Investments
- $47.7m
- Employees
- 0
- Location
- Orlando, FL
- Founding
- 02/1945
- Data as of
- 12/2023
- EIN
- 58-6026047
Organization Overview
Wm I H & Lula E Pitts Foundation is located in Orlando, FL. The organization was established in 1945. 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. Wm I H & Lula E Pitts 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 12/2023, Wm I H & Lula E Pitts Foundation generated $1.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (23.5%) each year. All expenses for the organization totaled $5.3m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Wm I H & Lula E Pitts Foundation has awarded 69 individual grants totaling $22,942,735. 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.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Truist Bank Trustee | 1 | $263,602 | |
Bishop Mike Watson Chairman | 1 | $0 | |
Elizabeth Ogie Board Member | 1 | $0 | |
Dan Mcalexander Board Member | 1 | $0 | |
Jenner Wood Board Member | 1 | $0 | |
Philip Millians Board Member | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $2,678,049 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$913,596 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,764,453 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $263,602 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $43,723 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $13,405 |
| Total operating and administrative expenses | $323,230 |
| Contributions, gifts, grants paid | $4,933,872 |
| Total expenses and disbursements | $5,257,102 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,060,870 |
| 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 | $40,777,548 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $50,810,073 |
| 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, Wm I H & Lula E Pitts Foundation has awarded $4,933,872 in support to 14 organizations.
| Grant Recipient | Amount |
|---|---|
ANDREW COLLEGE PURPOSE: GENERAL OPERATING | $1,042,936 |
EMORY UNIVERSITY PURPOSE: GENERAL OPERATING | $500,000 |
EMORY UNIVERSITY CHANDLER SCHOOL PURPOSE: GENERAL OPERATING | $250,000 |
EPWORTH BY THE SEA PURPOSE: GENERAL OPERATING | $300,000 |
METHODIST HOME FOR CHILDREN & YOUTH PURPOSE: GENERAL OPERATING | $333,000 |
LAGRANGE COLLEGE PURPOSE: GENERAL OPERATING | $1,042,936 |