Stitt Foundation Inc
- Assets
- $3.9m
- Revenue
- $3.0m
- Investments
- $2.1m
- Employees
- 0
- Location
- Olean, NY
- Founding
- Data as of
- 12/2022
- EIN
- 85-2753005
Organization Overview
Stitt Foundation Inc is located in Olean, NY. 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. Stitt Foundation Inc 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, Stitt Foundation Inc generated $3.0m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 51.9% each year .
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James E Stitt President, Director | 0.5 | $0 | |
Carol A Stitt Secretary, Treasurer, Director | 0.5 | $0 | |
James M Stitt Assistant Treasurer, Director | 0 | $0 | |
John F Stitt Assistant Secretary, Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $2,885,521 |
| Interest on Savings | $454 |
| Dividends & Interest | $105,618 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $2,991,593 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $4,925 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $8,325 |
| Contributions, gifts, grants paid | $29,250 |
| Total expenses and disbursements | $37,575 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $361,810 |
| Savings and temporary cash investments | $1,000,000 |
| 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 | $2,073,686 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $500,000 |
| Total assets | $3,935,496 |
| 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, Stitt Foundation Inc has awarded $29,250 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
CAROLINA COASTAL ARTS CENTER HH PURPOSE: GENERAL | $2,000 |
CATT REGION COMMUNITY FOUNDATION PURPOSE: PETE BUCHHEIT MEMORIAL | $5,000 |
INTANDEM PURPOSE: PARK PROJECT | $5,000 |
MERCY FLIGHT - CRCF PURPOSE: GENERAL | $2,500 |
VOLUNTEERS IN MEDICINE HH PURPOSE: GENERAL | $2,000 |
INTERFAITH CAREGIVERS INC PURPOSE: GENERAL | $2,000 |