Richard Stravitz Foundation
- Assets
- $16.0m
- Revenue
- $1.6m
- Investments
- $16.0m
- Employees
- 0
- Location
- Virginia Beach, VA
- Founding
- 08/2010
- Data as of
- 12/2023
- EIN
- 27-2552862
Organization Overview
Richard Stravitz Foundation is located in Virginia Beach, VA. The organization was established in 2010. 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. Richard Stravitz 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 12/2023, Richard Stravitz Foundation generated $1.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.6% each year. All expenses for the organization totaled $1.4m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Richard Stravitz Foundation has awarded 84 individual grants totaling $5,074,500. 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 |
|---|---|---|---|
Richard P Stravitz Trustee | 1 | $0 | |
Richard T Stravitz Trustee | 1 | $0 | |
Kathleen Thompson Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Rockefeller Capital Management | 12/30/23 | $104,684 |
Kandel & Company | 12/30/23 | $10,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $2,000,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $203,295 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$608,666 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,594,629 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,301 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $104,738 |
| Total operating and administrative expenses | $116,039 |
| Contributions, gifts, grants paid | $1,323,000 |
| Total expenses and disbursements | $1,439,039 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $5,552 |
| 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 | $21,784 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $2,100,000 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $15,993,158 |
| 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, Richard Stravitz Foundation has awarded $1,323,000 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
MASSACHUSETTS GENERAL HOSPITAL PURPOSE: ALS RESEARCH | $425,000 |
UNIVERSITY OF MICHIGAN PURPOSE: ALS RESEARCH | $48,000 |
EMORY UNIVERSITY HOSPITAL PURPOSE: ALS RESEARCH | $510,000 |
HOPE LOVES COMPANY PURPOSE: GENERAL & CAPITAL PURPOSES, UNLESS NOTED | $10,000 |
DOCTORS WITHOUT BORDERS USA INC PURPOSE: GENERAL & CAPITAL PURPOSES, UNLESS NOTED | $40,000 |
ALS ASSOCIATION PURPOSE: ALS RESEARCH | $50,000 |