Pettit Family Charitable Foundation
- Assets
- $5.3m
- Revenue
- $285.0k
- Investments
- $5.2m
- Employees
- 0
- Location
- Gaithersburg, MD
- Founding
- 01/1990
- Data as of
- 12/2023
- EIN
- 52-1646923
Organization Overview
Pettit Family Charitable Foundation is located in Gaithersburg, MD. The organization was established in 1990. 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. Pettit Family Charitable 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, Pettit Family Charitable Foundation generated $285.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (3.5%) each year. All expenses for the organization totaled $306.2k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (1.4%) per year over the past 9 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Pettit Family Charitable Foundation has awarded 482 individual grants totaling $2,429,245. 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
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 |
|---|---|---|---|
Richard B Pettit Manager | 1 | $0 | |
John Stephen Pettit Trustee | 0 | $0 | |
Carol Ann Pettit Fahrner Trustee | 0 | $0 | |
Barbara Lynn Kelly Manager | 0 | $0 | |
Jeanne Marie Pettit Manager | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $24,907 |
| Dividends & Interest | $213,831 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $46,271 |
| Capital Gain Net Income | $46,271 |
| Net ST Capital Gain | $38,541 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $285,009 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $4,926 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $39,612 |
| Total operating and administrative expenses | $45,988 |
| Contributions, gifts, grants paid | $260,200 |
| Total expenses and disbursements | $306,188 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $48,235 |
| Savings and temporary cash investments | $0 |
| 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 | $11,052 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $785 |
| Total assets | $5,294,288 |
| 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, Pettit Family Charitable Foundation has awarded $260,200 in support to 45 organizations.
| Grant Recipient | Amount |
|---|---|
A WIDER CIRCLE INC PURPOSE: GENERAL SUPPORT | $2,500 |
MONTGOMERY COUNTY COALITION FOR THE HOMELESS PURPOSE: SHELTER SUPPORT | $10,000 |
MIDDLETOWN VOLUNTEER FIRE DEPT PURPOSE: GENERAL SUPPORT | $1,000 |
THE CLUB FOUNDATION INC PURPOSE: GENERAL SUPPORT | $5,000 |
I RIDE 4 DAVID FOUNDATION PURPOSE: GENERAL SUPPORT | $5,000 |
HOUSING UNLIMITED INC PURPOSE: SHELTER SUPPORT | $3,500 |