Herb Ritts Jr Foundation
- Assets
- $25.0m
- Revenue
- $910.3k
- Investments
- $8.5m
- Employees
- 0
- Location
- Beverly Hills, CA
- Founding
- 04/2005
- Data as of
- 12/2022
- EIN
- 81-0593759
Organization Overview
Herb Ritts Jr Foundation is located in Beverly Hills, CA. The organization was established in 2005. 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. Herb Ritts Jr 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, Herb Ritts Jr Foundation generated $910.3k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $1.4m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Herb Ritts Jr Foundation has awarded 260 individual grants totaling $5,286,422. 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.
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 |
|---|---|---|---|
Mark Mckenna Executive Director | 40 | $150,000 | |
Warren Grant Director | 5 | $0 | |
Erik Hyman Director | 2 | $0 | |
Richard Gere Director | 2 | $0 | |
Steve Fink Director | 2 | $0 | |
Michael Whalen Director | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $287,294 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $232,356 |
| Capital Gain Net Income | $232,356 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $287,048 |
| Other Income | $103,559 |
| Total Revenue | $910,257 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $150,000 |
| Other employee salaries and wages | $148,577 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $33,224 |
| Depreciation | $7,369 |
| Occupancy | $78,936 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $226,885 |
| Total operating and administrative expenses | $760,370 |
| Contributions, gifts, grants paid | $617,300 |
| Total expenses and disbursements | $1,377,670 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $40,142 |
| Savings and temporary cash investments | $271,320 |
| 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 | $8,139,449 |
| Net Land, buildings, and equipment | $40,785 |
| Other assets | $16,141,652 |
| Total assets | $24,957,819 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $394 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $394 |
Grants Awarded
Over the last fiscal year, Herb Ritts Jr Foundation has awarded $617,300 in support to 52 organizations.
| Grant Recipient | Amount |
|---|---|
FENIMORE ART MUSEUM PURPOSE: UNRESTRICTED DONATION FOR DONEE'S EXEMPT PURPOSE | $189,500 |
BAILEY HOUSE (CASH) PURPOSE: UNRESTRICTED DONATION FOR DONEE'S EXEMPT PURPOSE | $5,000 |
BROADWAY CARES EQUITY FIGHTS AIDS (CASH) PURPOSE: UNRESTRICTED DONATION FOR DONEE'S EXEMPT PURPOSE | $5,000 |
NYC LIVE ARTS (CASH) PURPOSE: UNRESTRICTED DONATION FOR DONEE'S EXEMPT PURPOSE | $5,000 |
CLEVELAND PRINT ROOM (CASH) PURPOSE: UNRESTRICTED DONATION FOR DONEE'S EXEMPT PURPOSE | $2,000 |
PROJECT ANGEL FOOD PURPOSE: UNRESTRICTED DONATION FOR DONEE'S EXEMPT PURPOSE | $10,000 |