M K Reichert Sternlicht Foundation
- Assets
- $65.4m
- Revenue
- $5.8m
- Investments
- $55.3m
- Employees
- 0
- Location
- Wilmington, DE
- Founding
- 03/2016
- Data as of
- 12/2020
- EIN
- 81-0807556
Organization Overview
M K Reichert Sternlicht Foundation is located in Wilmington, DE. The organization was established in 2016. 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. M K Reichert Sternlicht 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, M K Reichert Sternlicht Foundation generated $5.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (36.1%) each year.
Since 2017, M K Reichert Sternlicht Foundation has awarded 173 individual grants totaling $7,456,388. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mr Richard Zimmerman Executive Director | 15 | $125,000 | |
Mr James Sternlicht Dir Of Special Proj | 15 | $83,125 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $45,169 |
| Dividends & Interest | $2,089,877 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $3,649,436 |
| Capital Gain Net Income | $3,884,839 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $20,494 |
| Total Revenue | $5,804,976 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $133,125 |
| Pension plans, employee benefits | $13,032 |
| Interest | $14 |
| Taxes | $101,800 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $308 |
| Printing and publications | $0 |
| Other expenses | $183,889 |
| Total operating and administrative expenses | $474,966 |
| Contributions, gifts, grants paid | $3,056,888 |
| Total expenses and disbursements | $3,531,854 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $9,925,275 |
| Net Accounts receivable | $1,796 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $100,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $2,038,055 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $65,375,478 |
| 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, M K Reichert Sternlicht Foundation has awarded $2,784,500 in support to 70 organizations.
| Grant Recipient | Amount |
|---|---|
Bethesda, MD PURPOSE: M K REICHERT STERNLICHT FUND | $525,000 |
New York, NY PURPOSE: JDRF T1D FUND LLC | $200,000 |
New York, NY PURPOSE: JDRF T1D FUND LLC | $200,000 |
New York, NY PURPOSE: ACUMEN AMERICA | $125,000 |
SHINING HOPE FOR COMMUNITIES INC PURPOSE: GENERAL & UNRESTRICTED | $125,000 |
Greenwich, CT PURPOSE: EDUCATIONAL INITIATIVE FOR UNDERSERVED STUDENTS | $100,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Stadler Family Charitable Foundation Inc Titusville, NJ | $29,757,304 | $26,067,204 |
The Grateful Lives Foundation Wilmington, DE | $671,624,478 | $48,426,740 |
Lenfest Foundation Inc Philadelphia, PA | $0 | $560,962 |
Crystal Trust Ua Dtd 12-25-47 Irenee Dupont Jr Ttee Montchanin, DE | $288,226,063 | $32,506,410 |
Morgridge Family Foundation Wilmington, DE | $205,419,134 | $22,580,458 |
GDS Legacy Foundation Inc Wilmington, DE | $0 | $575,846 |
De Beaumont Foundation Inc Bethesda, MD | $183,698,152 | $47,357,470 |
Foundation For The Greatest Good Fulton, MD | $11,551,864 | $19,462,876 |
Young Mens Christian Association Of The Chesapeake Inc Easton, MD | $84,208,847 | $28,289,184 |
Living Legacy Foundation Wilmington, DE | $129,501,628 | $9,577,224 |
The Healey International Relief Foundation Inc Lumberton, NJ | $326,937 | $11,415,022 |
Zachary Smith Reynolds Trust Pittsburgh, PA | $187,892,547 | $20,789,622 |