Ritt Family Foundation
- Assets
- $395.6k
- Revenue
- $67.8k
- Investments
- $366.6k
- Employees
- 0
- Location
- White Bear Lake, MN
- Founding
- 03/1989
- Data as of
- 12/2023
- EIN
- 41-1624293
Organization Overview
Ritt Family Foundation is located in White Bear Lake, MN. The organization was established in 1989. 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 the central organization for a national or regional group of organizations. Ritt Family 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, Ritt Family Foundation generated $67.8k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.5% each year. All expenses for the organization totaled $93.1k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Ritt Family Foundation has awarded 55 individual grants totaling $242,550. 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.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Trustee | 2 | $4,975 | |
Lisa Meyers Board Member | 1 | $0 | |
Steven Ritt Secretary | 1 | $0 | |
John Ritt Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $40,041 |
| Interest on Savings | $91 |
| Dividends & Interest | $8,294 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $19,364 |
| Capital Gain Net Income | $19,364 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $50 |
| Total Revenue | $67,840 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $4,975 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $250 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $49 |
| Total operating and administrative expenses | $5,804 |
| Contributions, gifts, grants paid | $87,300 |
| Total expenses and disbursements | $93,104 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $15,959 |
| Savings and temporary cash investments | $13,078 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $395,623 |
| 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, Ritt Family Foundation has awarded $87,300 in support to 15 organizations.
| Grant Recipient | Amount |
|---|---|
CENTURY COLLEGE FOUNDATION PURPOSE: GENERAL OPERATING FUNDS | $10,000 |
CHOICE INC PURPOSE: GENERAL FUND | $1,000 |
FRONT LINE FOUNDATION PURPOSE: GENERAL FUND | $15,000 |
GREATER WHITE BEAR LAKE COMM FOUNDA PURPOSE: GENERAL FUND | $500 |
LAKESHORE PLAYERS THEATER PURPOSE: GENERAL FUND | $20,600 |
LIBERTY CLASSICAL ACADEMY PURPOSE: GENERAL FUND | $15,000 |