Mitchell Wolfson Sr Foundation
- Assets
- $245.9m
- Revenue
- $51.4m
- Investments
- $242.4m
- Employees
- 0
- Location
- Miami, FL
- Founding
- 04/1989
- Data as of
- 02/2022
- EIN
- 59-2390240
Organization Overview
Mitchell Wolfson Sr Foundation is located in Miami, FL. The organization was established in 1989. According to its NTEE Classification (T90) the organization is classified as: Named Trusts N.E.C., 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. Mitchell Wolfson Sr 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 02/2022, Mitchell Wolfson Sr Foundation generated $51.4m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 30.2% each year . All expenses for the organization totaled $15.5m during the year ending 02/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Mitchell Wolfson Sr Foundation has awarded 114 individual grants totaling $33,088,389. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
UNDER THE WILL OF THE LATE COLONEL WOLFSON THE FOUNDATION IS REQUIRED TO MAKE CONTRIBUTIONS TO THE MIAMI DADE COLLEGE
UNDER THE WILL OF THE LATE COLONEL WOLFSON THE FOUNDATION IS REQUIRED TO MAKE CONTRIBUTIONS TO THE UNIVERSITY OF MIAMI SCHOOL OF MEDICINE
UNDER THE WILL OF THE LATE COLONEL WOLFSON THE FOUNDATION IS REQUIRED TO MAKE CONTRIBUTIONS TO THE MIAMI JEWISH HOME AND HOSPITAL FOR AGED
UNDER THE WILL OF THE LATE COLONEL WOLFSON THE FOUNDATION IS REQUIRED TO MAKE CONTRIBUTIONS TO THE MT. SINAI HOSPITAL OF GREATER MIAMI
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Louis Wolfson III Trustee | 20 | $120,000 | |
Mitchell Wolfson Jr Trustee | 15 | $115,000 | |
Jeri Louise Waxenberg Wolfson Trustee | 15 | $115,000 | |
Joseph T Natoli Trustee | 15 | $115,000 | |
Lynda Wolfson Fadel Trustee | 15 | $115,000 | |
Amita K Schultes Trustee | 15 | $115,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The Northern Trust Company | 2/27/22 | $613,107 |
The Silchester International | 2/27/22 | $303,361 |
Eagle Capital Management | 2/27/22 | $295,691 |
Gamco Investors | 2/27/22 | $194,529 |
Crewcial Partners Llc | 2/27/22 | $213,265 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $5,108,469 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $41,687,644 |
| Capital Gain Net Income | $41,687,644 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $4,584,621 |
| Total Revenue | $51,380,734 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $810,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $111,535 |
| Taxes | $438,636 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $10,117 |
| Total operating and administrative expenses | $5,258,899 |
| Contributions, gifts, grants paid | $10,275,329 |
| Total expenses and disbursements | $15,534,228 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,928,777 |
| 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 | $595,973 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $185,919,562 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $245,881,118 |
| 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, Mitchell Wolfson Sr Foundation has awarded $10,275,329 in support to 37 organizations.
| Grant Recipient | Amount |
|---|---|
MIAMI DADE COLLEGE PURPOSE: IMPROVE HIGHER EDUCATION IN SOUTH FLORIDA. | $8,137,979 |
UNIVERSITY OF MIAMI SCHOOL OF MEDICINE PURPOSE: TO FUND MEDICAL EDUCATION IN SOUTH FLORIDA. | $838,354 |
MIAMI JEWISH HOME & HOSPITAL FOR THE AGED PURPOSE: TO PROVIDE HEALTH CARE FOR THE ELDERLY IN SOUTH FLORIDA. | $519,177 |
MOUNT SINAI HOSPITAL PURPOSE: TO IMPROVE MEDICAL CARE. | $407,671 |
Miami, FL PURPOSE: TO PROMOTE CHARITABLE GIVING IN SOUTH FLORIDA. | $59,418 |
THE WOLFSONIAN - FIU PURPOSE: TO PROMOTE MUSEUM OPERATIONS AND EXHIBITIONS. | $56,100 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Mitchell Wolfson Sr Foundation Miami, FL | $245,881,118 | $51,380,734 |
Sudco Inc & Affiliates Voluntary Empl Beneficiary Association Tr Jacksonville, FL | $1,629,809 | $12,527,671 |
Lucille S Beeson Charitable Remainder 66 1055001761 Birmingham, AL | $200,434,362 | $15,901,903 |
Walter R Ferguson Charitable Foundation Charitable Foundation Fort Lauderdale, FL | $0 | $613,063 |
Telford Foundation Inc Naples, FL | $77,208,801 | $5,161,589 |
Wanda And James M Moran Jr Foundation Inc Deerfield Beach, FL | $6,609,461 | $5,004,559 |
Yarim Foundation Boca Raton, FL | $1,467,226 | $2,520,229 |
Arnold & Winnie Palmer Foundation Inc Orlando, FL | $20,742,397 | $2,603,528 |
Mssa Ila Vacation Plan And Trust Mobile, AL | $2,494,985 | $3,007,833 |
W I H Pitts Charitable Tr Ua 110187 Orlando, FL | $39,439,716 | $4,048,727 |
Blake Family Foundation Inc Atlanta, GA | $54,641,915 | $13,537,530 |
St Marys United Methodist Church Foundation Inc Saint Marys, GA | $38,808,441 | $1,300,375 |