M K Reichert Sternlicht Foundation
- Assets
- $77.8m
- Revenue
- $4.7m
- Investments
- $68.8m
- Employees
- 0
- Location
- Wilmington, DE
- Founding
- 03/2016
- Data as of
- 12/2023
- 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 12/2023, M K Reichert Sternlicht Foundation generated $4.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (12.7%) each year. All expenses for the organization totaled $4.4m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, M K Reichert Sternlicht Foundation has awarded 304 individual grants totaling $15,079,888. 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 James Sternlicht Dir Of Special Proj | 15 | $105,000 | |
Mr Richard Zimmerman Executive Director | 15 | $125,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $224,301 |
| Dividends & Interest | $2,342,898 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,936,822 |
| Capital Gain Net Income | $7,796,078 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $157,690 |
| Total Revenue | $4,661,711 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $230,000 |
| Pension plans, employee benefits | $18,807 |
| Interest | $0 |
| Taxes | $127,700 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $329,315 |
| Total operating and administrative expenses | $752,253 |
| Contributions, gifts, grants paid | $3,668,250 |
| Total expenses and disbursements | $4,420,503 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $8,901,829 |
| Net Accounts receivable | $3,576 |
| 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 | $12,250,984 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $77,824,775 |
| 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 $3,668,250 in support to 72 organizations.
| Grant Recipient | Amount |
|---|---|
ACADEMY FOR TEACHERS PURPOSE: CHARITABLE EVENT | $5,000 |
AMERICAN FRIENDS OF MAGEN DAVID ADOM PURPOSE: ISRAEL EMERGENCY GIVING FUND | $100,000 |
AMERICAN FRIENDS OF ALYN HOSPITAL INC PURPOSE: GENERAL & UNRESTRICTED | $20,000 |
AMERICAN FRIENDS OF MAGEN DAVID ADOM PURPOSE: GENERAL & UNRESTRICTED | $100,000 |
BREAKTHROUGH T1D PURPOSE: JDRF T1D FUND LLC | $200,000 |
BREAKTHROUGH T1D PURPOSE: T1D FUND | $200,000 |