The Roy F And Joann Cole Mitte Foundation
- Assets
- $15.1m
- Revenue
- $901.6k
- Investments
- $11.0m
- Employees
- 0
- Location
- Austin, TX
- Founding
- 01/1996
- Data as of
- 12/2020
- EIN
- 74-2766058
Organization Overview
The Roy F And Joann Cole Mitte Foundation is located in Austin, TX. The organization was established in 1996. 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. Roy F And Joann Cole Mitte 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 12/2020, Roy F And Joann Cole Mitte Foundation generated $901.6k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 40.4% each year . All expenses for the organization totaled $2.9m during the year ending 12/2020. While expenses have increased by 14.7% per year over the past 6 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 2015, Roy F And Joann Cole Mitte Foundation has awarded 444 individual grants totaling $5,146,272. 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
2020
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MITTE CULTURAL DISTRICT IS A 501(C)(3) PUBLIC CHARITY ORGANIZED BY THE CITY OF BROWNSVILLE, TEXAS TO PROMOTE AND ENHANCE HISTORICAL, CULTURAL, AND EDUCATIONAL ACTIVITIES THROUGH PROGRAMMING AND CULTURAL EVENTS. THE MITTE FOUNDATION DEVELOPMENT PLANS WILL PROVIDE VENUES AND PARKING FACILITIES DESIGNED TO ENHANCE THE ORGANIZATIONS ABILITY TO PROVIDE PROGRAMS AND EVENTS. IN 2021, THE MITTE FOUNDATION DEVOTED CAPITAL EXPENDITURES OF $948,058 TOWARDS THIS PROJECT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carolyn Molstad Executive Director | 40 | $196,031 | |
Dyna Mitte Dir / Assoc Dir | 40 | $172,576 | |
Julie Gunn Office Manager | 40 | $83,882 | |
Rj Mitte President | 4 | $18,268 | |
John Butler Treasurer | 6 | $16,788 | |
Dianne Carriere Secretary | 4 | $16,788 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $41,118 |
| Dividends & Interest | $172,295 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $933,045 |
| Capital Gain Net Income | $927,271 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | -$244,883 |
| Total Revenue | $901,575 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $322,412 |
| Other employee salaries and wages | $262,755 |
| Pension plans, employee benefits | $99,171 |
| Interest | $0 |
| Taxes | $30,260 |
| Depreciation | $33,484 |
| Occupancy | $48,152 |
| Travel, conferences, and meetings | $20,631 |
| Printing and publications | $0 |
| Other expenses | $64,714 |
| Total operating and administrative expenses | $2,401,923 |
| Contributions, gifts, grants paid | $512,956 |
| Total expenses and disbursements | $2,914,879 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $140,169 |
| Savings and temporary cash investments | $1,226,451 |
| Net Accounts receivable | $4,070 |
| 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 | $42,795 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $3,781,159 |
| Net Land, buildings, and equipment | $2,653,627 |
| Other assets | $0 |
| Total assets | $15,085,988 |
| Accounts payable and accrued expenses | $347,402 |
| Grants payable | $132,200 |
| 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 | $479,602 |
Grants Awarded
Over the last fiscal year, The Roy F And Joann Cole Mitte Foundation has awarded $493,000 in support to 42 organizations.
| Grant Recipient | Amount |
|---|---|
MITTE CULTURAL DISTRICT PURPOSE: SUPPORT FOR THE MARKETING AND MEMBERSHIP COORDINATOR | $47,100 |
CHILDREN'S MUSEUM OF BROWNSVILLE PURPOSE: GRANT FOR ARCHITECTURAL DESIGN FEES FOR THE SCIENCE CENTER EXPANSION | $25,000 |
MITTE CULTURAL DISTRICT PURPOSE: SUPPORT FOR THE MARKETING AND MEMBERSHIP COORDINATOR | $22,900 |
Brownsville, TX PURPOSE: SUPPORT FOR THE COMMISSION & INSTALLATION OF THE "CIRCLE OF PEACE" SCULPTURE | $20,000 |
MISSION CAPITAL PURPOSE: SUPPORT FOR COVID-19 RESPONSE & INITIAL COLLABORATIVE PLANNING SESSION IN BROWNSVILLE | $13,000 |
SHREEJWAL DHAKAL PURPOSE: SCHOLARSHIP | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Penner Family Foundation Bentonville, AR | $146,107,822 | $15,983,833 |
Scharbauer Foundation Inc Midland, TX | $271,051,602 | $69,061,413 |
Wildcat Foundation Fort Worth, TX | $836,895 | $18,132,970 |
A Earl & Frances E Ziegler Foundation Norman, OK | $1,886,858 | $25,634,422 |
Eugene Mcdermott Foundation Dallas, TX | $220,528,387 | $97,884,779 |
Henderson-Wessendorff Foundation Richmond, TX | $228,160,288 | $17,605,762 |
Walter E Heller Foundation Dallas, TX | $0 | $637,126 |
Carl & Marilynn Thoma Foundation Dallas, TX | $0 | $929,287 |
Beloved In Christ Foundation Austin, TX | $172,986,617 | $3,113,726 |
The Kathryn H Craig Stephen Dudley Heard And Lillie D Heard Memorial Dallas, TX | $1,384 | -$449,918 |
Carroll Petrie Foundation Santa Fe, NM | $306,631,944 | $55,176,464 |
Hamill Foundation Houston, TX | $203,029,849 | $39,782,936 |