Ritt Family Foundation
- Assets
- $425.8k
- Revenue
- $85.6k
- Investments
- $342.5k
- Employees
- 0
- Location
- White Bear Lake, MN
- Founding
- 03/1989
- Data as of
- 12/2021
- 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 12/2021, Ritt Family Foundation generated $85.6k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 27.4% each year . All expenses for the organization totaled $42.6k during the year ending 12/2021. While expenses have increased by 6.9% per year over the past 5 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Trustee | 2 | $5,443 | |
John Ritt Director | 1 | $0 | |
Lisa Meyers Board Member | 1 | $0 | |
Steven Ritt Secretary | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $44,475 |
| Interest on Savings | $3 |
| Dividends & Interest | $6,190 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $31,476 |
| Capital Gain Net Income | $31,476 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $3,484 |
| Total Revenue | $85,628 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $5,443 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $310 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $49 |
| Total operating and administrative expenses | $6,327 |
| Contributions, gifts, grants paid | $36,250 |
| Total expenses and disbursements | $42,577 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $55,787 |
| Savings and temporary cash investments | $27,497 |
| 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 | $425,780 |
| 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 $36,250 in support to 17 organizations.
| Grant Recipient | Amount |
|---|---|
White Bear Lake, MN PURPOSE: GENERAL OPERATING FUNDS | $6,000 |
Roseville, MN PURPOSE: GENERAL FUND | $5,000 |
St Paul, MN PURPOSE: GENERAL FUND | $5,000 |
MINNESOTA ONE HUNDRED CLUB PURPOSE: GENERAL FUND | $5,000 |
Mahtomedi, MN PURPOSE: GENERAL FUND | $2,750 |
COMO FRIENDS PURPOSE: GENERAL FUND | $2,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
We Energies Foundation Inc Milwaukee, WI | $74,423,525 | $6,027,785 |
3m Foundation St Paul, MN | $11,832,463 | $7,120,220 |
Richard O Jacobson Foundation Inc Des Moines, IA | $24,841,991 | $13,826,505 |
The Ceres Trust Milwaukee, WI | $8,473,497 | $7,541,315 |
New Jci Foundation Inc Milwaukee, WI | $45,616,522 | $3,307,387 |
Hugh J Andersen Foundation Bayport, MN | $156,260,583 | $11,255,430 |
Hall-Perrine Foundation Cedar Rapids, IA | $140,581,654 | $14,980,430 |
Dohmen Company Foundation Inc Milwaukee, WI | $0 | $9,439,356 |
Xcel Energy Foundation Minneapolis, MN | $11,307,736 | $67,424 |
Patrick & Aimee Butler Family Foundation St Paul, MN | $109,951,624 | $8,639,825 |
Mead Witter Foundation Inc Wisconsin Rapids, WI | $51,357,757 | $5,357,467 |
Comer Science And Education Foundation Waukesha, WI | $78,906,538 | $1,965,731 |