Mortimer And Mimi Levitt Foundation Inc
- Assets
- $181.7m
- Revenue
- $14.7m
- Investments
- $30.7m
- Employees
- 0
- Location
- Los Angeles, CA
- Founding
- 07/1966
- Data as of
- 12/2021
- 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 12/2021, Mortimer And Mimi Levitt Foundation Inc generated $14.7m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 46.7% each year . All expenses for the organization totaled $5.3m during the year ending 12/2021. While expenses have increased by 2.0% per year over the past 4 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Mortimer And Mimi Levitt Foundation Inc has awarded 118 individual grants totaling $3,645,913. 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
2021
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 |
|---|---|---|---|
Sharon Yazowski Secretary/executive Director | 40 | $212,000 | |
Vanessa Silberman Deputy Director | 40 | $151,500 | |
Heidi Snyder Director Of Operatio | 40 | $125,214 | |
Victoria Bridenstine Director Of Programs | 40 | $109,813 | |
Nicole Saint Mcgaffey Senior Communication | 40 | $66,612 | |
Arianne Ousley Operations Associate | 40 | $58,610 |
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 | $11,045,987 |
| Interest on Savings | $0 |
| Dividends & Interest | $616,896 |
| Net Rental Income | $528,197 |
| Net Gain on Sale of Assets | $1,178,861 |
| Capital Gain Net Income | $1,178,861 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $382,661 |
| Total Revenue | $14,665,647 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $212,000 |
| Other employee salaries and wages | $714,100 |
| Pension plans, employee benefits | $145,061 |
| Interest | $0 |
| Taxes | $21,309 |
| Depreciation | $300,391 |
| Occupancy | $122,911 |
| Travel, conferences, and meetings | $1,595 |
| Printing and publications | $0 |
| Other expenses | $1,320,074 |
| Total operating and administrative expenses | $3,196,783 |
| Contributions, gifts, grants paid | $2,065,807 |
| Total expenses and disbursements | $5,262,590 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $380,728 |
| Savings and temporary cash investments | $747,812 |
| 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 | $1,500,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $90,317 |
| Net Investments - land, buildings, equipment | $8,305,431 |
| Investments—mortgage loans | $0 |
| Investments—other | $5,133,943 |
| Net Land, buildings, and equipment | $8,410 |
| Other assets | $139,998,430 |
| Total assets | $181,707,670 |
| Accounts payable and accrued expenses | $201,126 |
| 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 | $28,638 |
| Total liabilities | $229,764 |
Grants Awarded
Over the last fiscal year, Mortimer And Mimi Levitt Foundation Inc has awarded $2,065,807 in support to 62 organizations.
| Grant Recipient | Amount |
|---|---|
Los Angeles, CA PURPOSE: GENERAL OPERATING SUPPORT | $450,000 |
FRIENDS OF LEVITT SHELL MEMPHIS PURPOSE: GENERAL OPERATING SUPPORT | $200,000 |
Arlington, TX PURPOSE: GENERAL OPERATING SUPPORT | $180,000 |
FRIENDS OF LEVITT PAVILION DENVER PURPOSE: GENERAL OPERATING SUPPORT | $175,000 |
Bethlehem, PA PURPOSE: GENERAL OPERATING SUPPORT | $175,000 |
Dayton, OH PURPOSE: GENERAL OPERATING SUPPORT | $175,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Mortimer And Mimi Levitt Foundation Inc has recieved totaling $7,500.
| Awarding Organization | Amount |
|---|---|
Los Angeles Medical Center Foundation Los Angeles, CA PURPOSE: CHARITY | $7,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Mimi And Peter Haas Fund San Francisco, CA | $0 | $22,825,724 |
William K Bowes Jr Foundation San Francisco, CA | $0 | $15,233,813 |
Collins Foundation Portland, OR | $249,591,840 | $5,256,313 |
Walter And Elise Haas Fund San Francisco, CA | $290,773,419 | $45,613,238 |
Lisa And Douglas Goldman Fund San Francisco, CA | $314,443,125 | $25,968,602 |
Wood-Claeyssens Foundation Santa Barbara, CA | $112,450,224 | $19,490,467 |
The Saban Family Foundation Los Angeles, CA | $4,126,107 | $4,076,196 |
Freeport-Mcmoran Copper & Gold Foundation Phoenix, AZ | $2,326,146 | $18,600,000 |
California Winegrowers Foundation Napa, CA | $3,681,527 | $16,676,626 |
Multi-Union Security Trust Fund Glendale, CA | $14,944,884 | $16,888,135 |
Helen And Wil Webster Foundation Arcadia, CA | $240,695,845 | $9,736,121 |
Dart-L Foundation Los Angeles, CA | $255,386,011 | $40,281,490 |