Hite Memorial Fund
- Assets
- $842.9k
- Revenue
- $86.9k
- Investments
- $823.0k
- Employees
- 0
- Location
- Buffalo, NY
- Founding
- 00/0000
- Data as of
- 12/2021
- EIN
- 25-6338897
Organization Overview
Hite Memorial Fund is located in Buffalo, NY. The organization was established in 0000. 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.
For the year ending 12/2021, Hite Memorial Fund generated $86.9k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 25.1% each year . All expenses for the organization totaled $71.2k during the year ending 12/2021. While expenses have increased by 1.6% 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
NONE
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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $21,767 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $65,116 |
| Capital Gain Net Income | $65,116 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $86,883 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $18,853 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $3,837 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $24,190 |
| Contributions, gifts, grants paid | $47,039 |
| Total expenses and disbursements | $71,229 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $19,851 |
| 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 | $730,213 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $842,851 |
| 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, Hite Memorial Fund has awarded $47,039 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Altoona, PA PURPOSE: GENERAL | $26,812 |
TRINITY UNITED METHODIST CHURCH PURPOSE: GENERAL | $20,227 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Richard K Lubin Family Foundation Boston, MA | $152,996,918 | $13,537,947 |
The Selz Foundation New York, NY | $142,395,054 | $24,456,334 |
Rita Allen Foundation Princeton, NJ | $219,012,203 | $23,878,841 |
The Derfner Foundation New York, NY | $158,472,968 | $13,106,656 |
Jill Roberts Charitable Foundation Inc Garden City, NY | $11,485 | $9,710,793 |
James And Merryl Tisch Foundation Inc New York, NY | $1,291,425 | $11,020,609 |
Tortuga Foundation New York, NY | $110,168,381 | $33,186,414 |
The Joseph H Flom Foundation New York, NY | $6,836,169 | $3,314,736 |
The Applebaum Foundation Inc New York, NY | $229,643,281 | $16,929,047 |
Deutsche Bank Americas Foundation New York, NY | $38,867,163 | $11,020,529 |
Charles A Dana Fdn Inc New York, NY | $248,257,333 | $20,769,847 |
The Powder Mill Foundation York, PA | $147,181,195 | $3,651,780 |