Smith-Pettit Foundation
- Assets
- $17.1m
- Revenue
- $1.8m
- Investments
- $12.4m
- Employees
- 0
- Location
- Salt Lake City, UT
- Founding
- 04/2000
- Data as of
- 12/2021
- EIN
- 87-0641442
Organization Overview
Smith-Pettit Foundation is located in Salt Lake City, UT. The organization was established in 2000. According to its NTEE Classification (T23) the organization is classified as: Private Operating 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. Smith-Pettit 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 12/2021, Smith-Pettit Foundation generated $1.8m 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 (6.6%) each year. All expenses for the organization totaled $1.7m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVOTED TO SCHOLARSHIP AND EDUCATION CONCERNING MORMON STUDIES. IN MOST CASES, THE RELATED PUBLISHING ACTIVITIES OF THE FOUNDATION WILL BE UNDERTAKEN BY SIGNATURE BOOKS PUBLISHING LLC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gary J Bergera Vice Pres & Secretary | 40 | $995,000 | |
David P Wright Director | 2 | $0 | |
Ronald L Priddis Director | 2 | $0 | |
Camilla Smith Director | 2 | $0 | |
Sarah Smith Director | 2 | $0 | |
George D Smith Jr President & Treasurer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $400,000 |
| Interest on Savings | $41 |
| Dividends & Interest | $440,516 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $940,377 |
| Capital Gain Net Income | $940,377 |
| Net ST Capital Gain | $14,363 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,780,934 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $995,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $9,323 |
| Interest | $0 |
| Taxes | $21,942 |
| Depreciation | $6,375 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $468,297 |
| Total operating and administrative expenses | $1,689,953 |
| Contributions, gifts, grants paid | $20,800 |
| Total expenses and disbursements | $1,710,753 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,908,910 |
| Savings and temporary cash investments | $77,625 |
| Net Accounts receivable | $17,357 |
| 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 | $22,586 |
| Prepaid expenses and deferred charges | $9,000 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $784,254 |
| Net Land, buildings, and equipment | $165,859 |
| Other assets | $2,453,953 |
| Total assets | $17,077,346 |
| 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, Smith-Pettit Foundation has awarded $20,800 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
Canton, GA PURPOSE: GENERAL SUPPORT | $6,500 |
Claremont, CA PURPOSE: GENERAL SUPPORT | $5,000 |
UTAH STATE HISTORICAL SOCIETY 87-6000545 PURPOSE: GENERAL SUPPORT | $3,200 |
SUNSTONE EDUCATIONAL FOUNDATION 87-0683974 PURPOSE: GENERAL SUPPORT | $3,000 |
FAIRPARK COMMUNITY COUNCIL 30-0691759 PURPOSE: GENERAL SUPPORT | $2,500 |
ASSOCIATION FOR MORMON LETTERS 94-2762232 PURPOSE: GENERAL SUPPORT | $600 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Kirk Humanitarian Salt Lake City, UT | $3,740,895 | $18,227,954 |
Early Learning Ventures Englewood, CO | $2,919,748 | $7,396,606 |
Friends Of Football Inc Pueblo, CO | $0 | $209,272 |
Carl And Marilynn Thoma Art Foundation Santa Fe, NM | $0 | $36,422,281 |
Secure World Foundation Broomfield, CO | $14,993,930 | $1,932,804 |
The Harold James Family Trust Prescott, AZ | $66,905,399 | $283,174 |
Smith-Pettit Foundation Salt Lake City, UT | $17,077,346 | $1,780,934 |
Foundation For A Better Life Denver, CO | $1,182,191 | $2,044,000 |
International Spine Study Group Foundation Brighton, CO | $5,806,474 | $2,130,790 |
Roc Foundation Reno, NV | $811,828 | $1,026,819 |
National Center On Shaken Baby Syndrome Farmington, UT | $942,258 | $989,551 |
Niki Charitable Art Foundation Park City, UT | $36,058,795 | $1,233,627 |