Otto Schoitz Foundation
- Assets
- $68.3m
- Revenue
- $12.9m
- Investments
- $67.4m
- Employees
- 2
- Location
- Waterloo, IA
- Founding
- 08/2016
- Data as of
- 09/2021
- EIN
- 81-1949053
Organization Overview
Otto Schoitz Foundation is located in Waterloo, IA. The organization was established in 2016. According to its NTEE Classification (E19) the organization is classified as: Support N.E.C., under the broad grouping of Health Care and related organizations. As of 09/2023, Otto Schoitz Foundation employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Otto Schoitz 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 09/2021, Otto Schoitz Foundation generated $12.9m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 60.1% each year . All expenses for the organization totaled $2.4m during the year ending 09/2021. While expenses have increased by 60.1% per year over the past 5 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 2018, Otto Schoitz Foundation has awarded 333 individual grants totaling $24,807,680. 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
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION AWARDS GRANTS TO ORGANIZATIONS DULY AUTHORIZED AND EQUIPPED TO CARRY ON ACTIVITIES WHICH ARE ALIGNED WITH THE FOUNDATION'S MISSION. DURING THE YEAR ENDED SEPTEMBER 30, 2022, THE FOUNDATION DISBURSED $3,670,612 TO 51 ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michele Panicucci Executive Director | 40 | $145,874 | |
Mike Mallaro Chair | 5 | $0 | |
Rhonda Mcrina Vice Chair | 5 | $0 | |
Eric Locke Immediate Past Chair | 5 | $0 | |
Blake Hollis Treasurer | 5 | $0 | |
Karin Rowe Secretary | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $859,814 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $12,055,941 |
| Capital Gain Net Income | $12,055,941 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $12,915,755 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $121,540 |
| Other employee salaries and wages | $69,677 |
| Pension plans, employee benefits | $21,661 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $4,071 |
| Travel, conferences, and meetings | $1,316 |
| Printing and publications | $1,250 |
| Other expenses | $18,460 |
| Total operating and administrative expenses | $326,435 |
| Contributions, gifts, grants paid | $2,106,170 |
| Total expenses and disbursements | $2,432,605 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $82,546 |
| Savings and temporary cash investments | $813,607 |
| 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 | $6,448 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $17,672,967 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $31,129 |
| Total assets | $68,331,413 |
| Accounts payable and accrued expenses | $5,605 |
| Grants payable | $2,453,767 |
| 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 | $2,459,372 |
Grants Awarded
Over the last fiscal year, Otto Schoitz Foundation has awarded $6,007,732 in support to 89 organizations.
| Grant Recipient | Amount |
|---|---|
1619 FREEDOM SCHOOL PURPOSE: OPERATING SUPPORT | $25,750 |
247 BLACK LEADERSHIP ADVANCEMENT CONSORTIUM FKA RENEW WATERLOO PURPOSE: PROGRAMMATIC SUPPORT | $75,000 |
AMERICANS FOR INDEPENDENT LIVING PURPOSE: PROGRAMMATIC SUPPORT | $378 |
BLACK HAWK COUNTY HEALTH DEPARTMENT PURPOSE: PROGRAMMATIC SUPPORT | $12,500 |
AMANI COMMUNITY SERVICES PURPOSE: PROGRAMMATIC SUPPORT | $37,500 |
CATHOLIC CHARITIES OF THE ARCHDIOCESE OF DUBUQUE PURPOSE: OPERATING SUPPORT | $25,000 |