Ravitz Foundation
- Assets
- $31.8m
- Revenue
- $2.4m
- Investments
- $31.2m
- Employees
- 0
- Location
- Farmington Hills, MI
- Founding
- 02/2000
- Data as of
- 12/2022
- EIN
- 38-3508943
Organization Overview
Ravitz Foundation is located in Farmington Hills, MI. The organization was established in 2000. 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. Ravitz 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 12/2022, Ravitz Foundation generated $2.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $2.6m during the year ending 12/2022. While expenses have increased by 2.9% per year over the past 8 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 2014, Ravitz Foundation has awarded 609 individual grants totaling $22,043,583. 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 |
|---|---|---|---|
Lawrence Handler Director | 5 | $0 | |
Steve Margolin Director | 1 | $6,250 | |
Burton Shifman President/director | 15 | $13,922 | |
Carole Shifman Program Director/director | 30 | $122,234 | |
Jonathan Aaron Secretary/director | 1 | $6,250 | |
Bruce Gelbaugh Director | 10 | $22,773 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Morgan Stanley | 12/30/18 | $110,241 |
Comerica Bank | 12/30/18 | $95,321 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $825 |
| Interest on Savings | $8,706 |
| Dividends & Interest | $817,406 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,573,428 |
| Capital Gain Net Income | $1,573,428 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $2,400,365 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $197,929 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $20,492 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $7,650 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $24,575 |
| Total operating and administrative expenses | $486,838 |
| Contributions, gifts, grants paid | $2,128,350 |
| Total expenses and disbursements | $2,615,188 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $119,091 |
| Savings and temporary cash investments | $441,084 |
| 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 | $13,326 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $21,879,534 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $38,066 |
| Total assets | $31,789,548 |
| 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 | $7,537 |
| Total liabilities | $7,537 |
Grants Awarded
Over the last fiscal year, Ravitz Foundation has awarded $2,128,350 in support to 66 organizations.
| Grant Recipient | Amount |
|---|---|
ALUMNI ASSOCIATION OF U OF M PURPOSE: GENERAL SUPPORT | $23,750 |
AMERICAN FRIEND OF MAGEN DAVID ADOM PURPOSE: GENERAL SUPPORT | $1,000 |
AMERICAN JOINT DISTRIBUTION COMMITTEE PURPOSE: THE WAY OF THE LAND PROJECT | $42,750 |
AMERICAN JOINT DISTRIBUTION COMMITTEE PURPOSE: GENERAL SUPPORT | $1,000 |
AMERICAN JOINT DISTRIBUTION COMMITTEE PURPOSE: UKRAINE CRISIS FUND | $2,000 |
AMERICAN LIBRARY ASSOCIATION PURPOSE: GENERAL SUPPORT | $500 |