Kite Family Foundation
- Assets
- $3.9m
- Revenue
- $4.6m
- Investments
- $3.9m
- Employees
- 0
- Location
- Pennington, NJ
- Founding
- Data as of
- 12/2023
- EIN
- 88-1408473
Organization Overview
Kite Family Foundation is located in Pennington, NJ. 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. Kite Family 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, Kite Family Foundation generated $4.6m in total revenue. All expenses for the organization totaled $63.0k during the year ending 12/2023.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas O Kite Jr President & Board Member | 1 | $0 | |
Stephanie Kite Jones Secretary & Board Member | 1 | $0 | |
Paul C Kite Board Member | 1 | $0 | |
David T Kite Board Member | 1 | $0 | |
Sandra Sue Jones Board Member | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $3,426,106 |
| Interest on Savings | $0 |
| Dividends & Interest | $57,003 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,111,854 |
| Capital Gain Net Income | $1,111,854 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $4,594,963 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $2,443 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $24,425 |
| Contributions, gifts, grants paid | $38,558 |
| Total expenses and disbursements | $62,983 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $892 |
| Savings and temporary cash investments | $52,845 |
| 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 | $1,557,866 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $3,935,413 |
| 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, Kite Family Foundation has awarded $38,558 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
DELL CHILDREN'S MEDICAL CENTER FDN PURPOSE: UNRESTRICTED GENERAL | $13,558 |
FIRST TEE GREATER AUSTIN PURPOSE: UNRESTRICTED GENERAL | $25,000 |