Mortimer And Mimi Levitt Foundation Inc
- Assets
- $174.8m
- Revenue
- $2.3m
- Investments
- $23.2m
- Employees
- 0
- Location
- Los Angeles, CA
- Founding
- 07/1966
- Data as of
- 12/2022
- EIN
- 13-6204678
Organization Overview
Mortimer And Mimi Levitt Foundation Inc is located in Los Angeles, CA. The organization was established in 1966. 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. Mortimer And Mimi Levitt Foundation Inc 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 12/2022, Mortimer And Mimi Levitt Foundation Inc generated $2.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (12.8%) each year. All expenses for the organization totaled $6.9m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Mortimer And Mimi Levitt Foundation Inc has awarded 214 individual grants totaling $5,875,888. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MORTIMER AND MIMI LEVITT FOUNDATION SUPPORTS THE PROGRAMS OF LOCAL FRIENDS OF LEVITT PAVILION ORGANIZATIONS AND NONPROFITS THROUGH INTERPAVILION AND LEVITT NETWORK ACTIVITIES AND CONSULTATION. THE FOUNDATION SUPPORTS AND ASSISTS IN THE PRODUCTION OF FREE CONCERTS AS WELL AS GUIDES CIVIC AND COMMUNITY LEADERS IN DEVELOPING NEW LOCAL LEVITT PROGRAMS AND FREE CONCERT SERIES. THE GOAL OF THE FOUNDATION IS TO INSPIRE AND STRENGTHEN COMMUNITIES THROUGH LIVE MUSIC EXPERIENCES. CENTRAL TO THIS MISSION IS THE CREATION, DEVELOPMENT, AND SUPPORT OF LEVITT PAVILIONS AND LEVITT CONCERT SITES AS COMMUNITY GATHERING SPACES. THE FOUNDATION HELPS TOWNS AND CITIES NATIONWIDE ESTABLISH AND SUSTAIN THEIR OWN PAVILIONS, CONCERT SITES, AND LEVITT PROGRAMS, RESULTING IN STRONGER, HEALTHIER, AND MORE INTERCONNECTED NEIGHBORHOODS AND COMMUNITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andrew Hirsch Director / Vice President | 1 | $0 | |
Elizabeth Levitt-Hirsch Director / President | 10 | $0 | |
John Mcnamara Director | 1 | $0 | |
Kathy Eberly Ovitt Director | 1 | $0 | |
Larry Chaifetz Director | 1 | $0 | |
Pasy Wang Director/treasurer | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ubs | 12/30/20 | $121,939 |
Eisneramper Llp | 12/30/20 | $165,755 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $2,100 |
| Interest on Savings | $0 |
| Dividends & Interest | $523,294 |
| Net Rental Income | $823,361 |
| Net Gain on Sale of Assets | -$259,347 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $353,646 |
| Total Revenue | $2,333,499 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $254,000 |
| Other employee salaries and wages | $985,243 |
| Pension plans, employee benefits | $202,364 |
| Interest | $0 |
| Taxes | $39,663 |
| Depreciation | $299,338 |
| Occupancy | $469,334 |
| Travel, conferences, and meetings | $3,012 |
| Printing and publications | $0 |
| Other expenses | $1,939,037 |
| Total operating and administrative expenses | $4,707,315 |
| Contributions, gifts, grants paid | $2,229,975 |
| Total expenses and disbursements | $6,937,290 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $502,722 |
| Savings and temporary cash investments | $420,963 |
| 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 | $1,375,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $58,083 |
| Net Investments - land, buildings, equipment | $8,151,563 |
| Investments—mortgage loans | $0 |
| Investments—other | $5,528,309 |
| Net Land, buildings, and equipment | $76,973 |
| Other assets | $140,963,912 |
| Total assets | $174,754,778 |
| Accounts payable and accrued expenses | $318,437 |
| 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 | $5,243,601 |
| Total liabilities | $5,562,038 |
Grants Awarded
Over the last fiscal year, Mortimer And Mimi Levitt Foundation Inc has awarded $2,229,975 in support to 96 organizations.
| Grant Recipient | Amount |
|---|---|
3 DOTS DOWNTOWN PURPOSE: COMMUNITY PROGRAMMING SUPPORT | $1,500 |
646 DOWNTOWN PURPOSE: COMMUNITY PROGRAMMING SUPPORT | $25,000 |
ADVANCEMENT PROJECT CALIFORNIA PURPOSE: COMMUNITY PROGRAMMING SUPPORT | $5,000 |
ALLEGANY ARTS COUNCIL PURPOSE: COMMUNITY PROGRAMMING SUPPORT | $1,500 |
ARTS AND CULTURAL ALLIANCE OF ST LUCIE PURPOSE: COMMUNITY PROGRAMMING SUPPORT | $1,500 |
ASHLAND FOR CHANGE PURPOSE: COMMUNITY PROGRAMMING SUPPORT | $1,500 |