The Ovitz Family Foundation
- Assets
- $2.0k
- Revenue
- $869.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Los Angeles, CA
- Founding
- 07/1988
- Data as of
- 12/2022
- EIN
- 52-1354173
Organization Overview
The Ovitz Family Foundation is located in Los Angeles, CA. The organization was established in 1988. 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. Ovitz 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 12/2022, Ovitz Family Foundation generated $869.0k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 73.6% each year . All expenses for the organization totaled $901.1k during the year ending 12/2022. While expenses have increased by 75.5% 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael S Ovitz President | 0 | $0 | |
Robert F Goldman Secretary | 0 | $0 | |
Michael S Dreyer CFO | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,136,991 |
| Interest on Savings | $0 |
| Dividends & Interest | $90 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$268,082 |
| Capital Gain Net Income | $730,822 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $868,999 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $13,600 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $13,600 |
| Contributions, gifts, grants paid | $887,500 |
| Total expenses and disbursements | $901,100 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $238 |
| Savings and temporary cash investments | $1,776 |
| 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 | $2,014 |
| 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, The Ovitz Family Foundation has awarded $887,500 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
MUSEUM OF MODERN ART PURPOSE: CHARITABLE | $837,500 |
NEWYORK PRESBYTERIAN FUND INC PURPOSE: CHARITABLE | $50,000 |