Willits Foundation
- Assets
- $21.9m
- Revenue
- $1.6m
- Investments
- $21.7m
- Employees
- 0
- Location
- West Palm Beach, FL
- Founding
- 01/1965
- Data as of
- 11/2022
- EIN
- 22-6063106
Organization Overview
Willits Foundation is located in West Palm Beach, FL. The organization was established in 1965. 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. Willits 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 11/2022, Willits Foundation generated $1.6m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 5.6% each year. All expenses for the organization totaled $1.7m during the year ending 11/2022. While expenses have increased by 2.0% per year over the past 5 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, Willits Foundation has awarded 73 individual grants totaling $4,734,169. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James A Diack Chief Operating Officer | 15 | $120,000 | |
George T Maloney Vice President | 1 | $0 | |
Christopher W Jones Trustee | 2 | $0 | |
Laura W Evans Chairman And President | 5 | $0 | |
Caroline Jones Trustee | 2 | $0 | |
Megan Margiotta Secretary | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $544,322 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,068,274 |
| Capital Gain Net Income | $1,068,242 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,612,596 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $120,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $15,876 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $141,741 |
| Total operating and administrative expenses | $290,117 |
| Contributions, gifts, grants paid | $1,407,879 |
| Total expenses and disbursements | $1,697,996 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $208,263 |
| 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 | $6,007,442 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $21,895,783 |
| 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, Willits Foundation has awarded $1,407,879 in support to 20 organizations.
| Grant Recipient | Amount |
|---|---|
Gladstone, NJ PURPOSE: EDUCATION - SCHOLARSHIP PROGRAM AND WELCOME CENTER. | $145,480 |
SWEET BRIAR COLLEGE PURPOSE: EDUCATION - AGRICULTURAL FELLOWSHIP. | $100,000 |
MAYO CLINIC FLORIDA PURPOSE: HEALTHCARE - GENERAL SUPPORT. | $100,000 |
West Palm Beach, FL PURPOSE: EDUCATION - 5 SCHOLARSHIPS AND ELECTRONIC TESTING. | $99,000 |
CLEVELAND CLINIC FOUNDATION PURPOSE: HEALTHCARE - 10 NURSE EXTERNSHIPS AND 14 WHEELCHAIRS. | $93,700 |
CLEVELAND CLINIC FOUNDATION FBO INDIAN RIVER COUNTY MEDICAL CENTER PURPOSE: HEALTHCARE - ER MENTAL HEALTH SECTION. | $88,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bobbie Bailey Foundation Inc Tucker, GA | $24,485,053 | $1,564,197 |
Yhwh Foundation Inc Carrollton, GA | $0 | $14,288,691 |
Miriam U Hoover Foundation Vero Beach, FL | $0 | $462,542 |
Dr Herbert And Nicole Wertheim Family Foundation Inc Miami, FL | $42,831,898 | $5,245,016 |
Quality Senior Housing Foundation Of East Texas Inc Atlanta, GA | $68,762,519 | $14,924,948 |
The Mary Alice Fortin Foundation Palm Beach, FL | $167,401,142 | $8,209,363 |
Zeist Foundation Inc Atlanta, GA | $306,093,080 | $21,313,980 |
Anverse Inc Cartersville, GA | $0 | $25,436,325 |
Louis And Gloria Flanzer Philantrhopic Tr Sarasota, FL | $95,188,629 | $13,796,000 |
Uga Real Estate Foundation Inc Athens, GA | $310,229,529 | $14,839,274 |
The Gary W Rollins Foundation Atlanta, GA | $72,624,629 | $27,015,806 |
Theodore R & Vivian M Johnson Scholarship Foundation Inc West Palm Beach, FL | $0 | $7,841,898 |