Strattec Foundation Inc
- Assets
- $2.3m
- Revenue
- $177.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Milwaukee, WI
- Founding
- 10/1997
- Data as of
- 12/2021
- EIN
- 39-1890894
Organization Overview
Strattec Foundation Inc is located in Milwaukee, WI. The organization was established in 1997. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Strattec Foundation Inc 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, Strattec Foundation Inc generated $177.7k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.8% each year. All expenses for the organization totaled $159.7k during the year ending 12/2021. While expenses have increased by 15.8% per year over the past 7 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE OTHE STRATTEC FOUNDATION, INC. WAS FORMED TO OPERATE AS A SUPPORTING ORGANIZATION DESCRIBED IN SECTIONS 501(C)(3) AND 509(A)(3) OF THE INTERNAL REVENUE CODE TO RECEIVE CONTRIBUTIONS FROM HAROLD STRATTON II, AND MEMBERS OF HIS FAMILY, AND DISTRIBUTE THEM IN SUPPORT OF THE GREATER MILWAUKEE FOUNDATION. THE GREATER MILWAUKEE FOUNDATION IS A PUBLIC CHARITY DESCRIBED IN SECTIONS 509(A)(1) OF THE INTERNAL REVENUE CODE.AS SET FORTH IN THE STRATTEC FOUNDATION LNC.'S ARTICLES OF INCORPORATION, "STRATTEC FOUNDATION, INC. WAS ORGANIZED, AND SHALL AT ALL TIMES BE OPERATED, EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, AND TO CARRY OUT THE PURPOSES OF, GREATER MILWAUKEE FOUNDATION, A CHARITABLE TRUST ORGANIZED PURSUANT TO THE DECLARATION OF TRUST ... IN FURTHERANCE THEREOF, THE CORPORATION SHALL BE ORGANIZED AND OPERATED EXCLUSIVELY FOR, AND ITS ACTIVITIES SHALL BE LIMITED TO, SUCH RELIGIOUS, CHARITABLE, SCIENTIFIC, LITERARY AND EDUCATIONAL PURPOSES AS WILL BENEFIT, CARRY OUT THE PURPOSES AND/OR PERFORM THE FUNCTIONS OF GREATER MILWAUKEE FOUNDATION, INCLUDING AMONG SUCH PURPOSES . . . THE MAKING OF GRANTS AND THE DISBURSEMENT OF FUNDS TO THE GREATER MILWAUKEE FOUNDATION AND/OR FOR THE BENEFIT AND/OR PURPOSES OF THE GREATER MILWAUKEE FOUNDATION."
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frank Krejci President | OfficerTrustee | 1 | $0 |
Patrick J Hansen Vp/treasurer | OfficerTrustee | 1 | $0 |
Ellen Gilligan Secretary | Officer | 0 | $0 |
Ken Robertson Assistant Treasurer | Officer | 0 | $0 |
Linda Mellowes Director | Trustee | 1 | $0 |
Blaine Rieke Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $12,453 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $165,272 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $177,725 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $133,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,685 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $159,731 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $14,138 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $2,324,285 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,338,423 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $2,338,423 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,338,423 |
Grants Awarded
Over the last fiscal year, Strattec Foundation Inc has awarded $128,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Milwaukee, WI PURPOSE: 2021 WORKPLACE GIVING CAMPAIGN | $85,000 |
Milwaukee, WI PURPOSE: 2021 WORKPLACE GIVING CAMPAIGN | $43,000 |
Endowment Analysis
| Beg. Balance | $2,126,171 |
| Earnings | $371,983 |
| Admin Expense | $26,731 |
| Grants | $133,000 |
| Ending Balance | $2,338,423 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
International Childrens Fund Inc Neenah, WI | $1,153,019 | $79,562,043 |
Van Andel Institute Grand Rapids, MI | $1,815,971,878 | $111,524,637 |
William Davidson Foundation Birmingham, MI | $1,107,938,800 | $127,279,050 |
Ronda E Stryker & William D Johnston Foundation Kalamazoo, MI | $63,637,902 | $79,561,320 |
Pritzker Family Foundation Chicago, IL | $156,116,781 | $25,309,600 |
Gilbert Family Foundation Detroit, MI | $122,833,560 | $20,538,766 |
Ghr Foundation Minneapolis, MN | $0 | $118,752,892 |
Paul M Angell Family Foundation Chicago, IL | $1,816,327 | $24,997,411 |
Alfred And Isabel Bader 2014 Charitable Trust Milwaukee, WI | $88,717,556 | $62,553,918 |
Anthony Pritzker Fam Foundation Chicago, IL | $0 | $37,184,888 |
Goodman Family Operating Foundation Chaska, MN | $298,216,479 | $15,439,155 |
Robert And Adele Schiff Family Foundation Inc Milwaukee, WI | $226,331,394 | $18,541,997 |