Westgate Foundation Inc
- Assets
- $3.3m
- Revenue
- $5.3m
- Investments
- $2.3m
- Employees
- 0
- Location
- Orlando, FL
- Founding
- 02/2003
- Data as of
- 12/2022
- EIN
- 59-3725614
Organization Overview
Westgate Foundation Inc is located in Orlando, FL. The organization was established in 2003. According to its NTEE Classification (T30) the organization is classified as: Public 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. Westgate Foundation Inc 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, Westgate Foundation Inc generated $5.3m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 45.9% each year . All expenses for the organization totaled $2.0m during the year ending 12/2022. While expenses have increased by 36.5% 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.
Since 2022, Westgate Foundation Inc has awarded 47 individual grants totaling $872,860. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION AIMS TO BE A CATALYST FOR POSITIVE CHANGE IN ITS LOCAL COMMUNITIES BY PARTNERING WITH ORGANIZATIONS THAT SEEK TO END THE NATION'S DRUG EPIDEMIC, CREATE STABILITY FOR FAMILIES IN NEED, PROVIDE CRITICAL RESOURCES TO OUR ACTIVE MILITARY & VETERANS, AND DEVELOP WORKFORCE READINESS PROGRAMS AROUND THE COUNTRY. THE FOUNDATION IS ALSO DEDICATED TO SUPPORTING TEAM MEMBERS IN AN UNFORESEEN CRISIS WHEN THEY NEED ASSISTANCE THE MOST.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS TO NONPROFIT ORGANIZATIONS
DISTRIBUTION OF SCHOOL SUPPLIES TO 2,300 FAMILIES
PAYMENT OF HOUSING AND UTILITY EXPENSES ON BEHALF OF 114 FAMILIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Siegel President | OfficerTrustee | 0.5 | $0 |
Mark Waltrip Vice President | OfficerTrustee | 0.5 | $0 |
Karen Waltrip Director | Trustee | 0.1 | $0 |
Jacqueline Siegel Director | Trustee | 0.1 | $0 |
Tom Dugan Treasurer | OfficerTrustee | 0.2 | $0 |
Jim Gissy Director | Trustee | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,126,240 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,126,240 |
| Total Program Service Revenue | $0 |
| Investment income | $69,731 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $66,915 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,262,886 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $878,153 |
| Grants and other assistance to domestic individuals. | $510,138 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $496,591 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $2,024 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $2,041,101 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $497,816 |
| Savings and temporary cash investments | $502,048 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $12,483 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $2,333,542 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,345,889 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $3,345,889 |
| Total liabilities and net assets/fund balances | $3,345,889 |
Grants Awarded
Over the last fiscal year, Westgate Foundation Inc has awarded $872,860 in support to 47 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN GOLD STAR MOTHERS PURPOSE: DONATION TO OPERATING FUND | $10,000 |
A NEW LEAF PURPOSE: DONATION TO OPERATING FUND | $10,000 |
BRANSON VETERANS TASK FORCE PURPOSE: DONATION TO OPERATING FUND | $10,000 |
BREVARD WOMEN'S CENTER PURPOSE: DONATION TO OPERATING FUND | $20,000 |
BOYS & GIRLS CLUBS OF CENTRAL FLORIDA PURPOSE: DONATION TO OPERATING FUND | $10,000 |
BRIAN BILL FOUNDATION PURPOSE: DONATION TO OPERATING FUND | $20,000 |