Quitiplas Foundation
- Assets
- $10.1m
- Revenue
- $217.0k
- Investments
- $7.5m
- Employees
- 0
- Location
- Wilmington, DE
- Founding
- 12/2008
- Data as of
- 12/2021
- EIN
- 26-1622017
Organization Overview
Quitiplas Foundation is located in Wilmington, DE. The organization was established in 2008. 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. Quitiplas 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 12/2021, Quitiplas Foundation generated $217.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (40.0%) each year. All expenses for the organization totaled $2.6m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Quitiplas Foundation has awarded 28 individual grants totaling $4,594,889. 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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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $2,229 |
| Dividends & Interest | $73,565 |
| Net Rental Income | $22 |
| Net Gain on Sale of Assets | -$56,443 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $197,595 |
| Total Revenue | $216,968 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $40,375 |
| Depreciation | $21,109 |
| Occupancy | $9,150 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $64,979 |
| Total operating and administrative expenses | $159,658 |
| Contributions, gifts, grants paid | $2,426,490 |
| Total expenses and disbursements | $2,586,148 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,491,441 |
| 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 | $2,966,542 |
| Net Land, buildings, and equipment | $1,146,954 |
| Other assets | $0 |
| Total assets | $10,133,870 |
| 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, Quitiplas Foundation has awarded $111,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
BAY NATURE INSTITUTE PURPOSE: GENERAL & UNRESTRICTED | $5,000 |
LA PENA CULTURAL CENTER INC PURPOSE: GENERAL & UNRESTRICTED | $1,000 |
SAVE THE BAY PURPOSE: GENERAL & UNRESTRICTED | $5,000 |
THELITERACY PROJECT PURPOSE: GENERAL & UNRESTRICTED | $100,000 |