Vinik Family Foundation
- Assets
- $192.2m
- Revenue
- $29.8m
- Investments
- $143.3m
- Employees
- 0
- Location
- Tampa, FL
- Founding
- 05/1999
- Data as of
- 12/2020
- EIN
- 91-1917506
Organization Overview
Vinik Family Foundation is located in Tampa, FL. The organization was established in 1999. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Vinik Family 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, Vinik Family Foundation generated $29.8m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 18.3% each year . All expenses for the organization totaled $15.1m during the year ending 12/2020. While expenses have increased by 13.2% per year over the past 3 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 2020, Vinik Family Foundation has awarded 562 individual grants totaling $37,093,600. 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
2020
Describe the Organization's Program Activity:
Part 3 - Line 4a
LUCY SPARROWTHE FOUNDATION ENTERED INTO AN AGREEMENT WITH ART PRODUCTION FUND (APL), A NEW YORK BASED PUBLIC CHARITY, TO SPONSOR AN ART EXHIBIT PROJECT ENTITLED LUCY SPARROW'S TAMPA DELI & CONVENIENCE STORE IN TAMPA, FL. THE EXHIBIT WAS FREE AND OPEN TO THE PUBLIC AND WAS ORIGINALLY SCHEDULED FOR EARLY 2021, WHEN THE CITY OF TAMPA WAS SCHEDULED TO HOST THE SUPER BOWL. THE ONSET OF THE CORONAVIRUS PANDEMIC RESULTED IN CANCELLING THE 2021 EXHIBIT AND RESCHEDULING FOR JANUARY 2022.
ARTWORK STORAGE-LOVE IS CALLINGTHE FOUNDATION OWNS YAYOI KUSAMA'S ART EXHIBIT ENTITLED "LOVE IS CALLING". DURING 2022 THERE WERE EXPENSES INCURRED FOR THE STORAGE AND INSURANCE FOR THE EXHIBIT IN A CLIMATE-CONTROLLED ART STORAGE WAREHOUSE. THIS ARTWORK WAS ON DISPLAY TO THE PUBLIC IN 2018 AT THE TAMPA MUSEUM OF ART AND WILL BE DISPLAYED FOR THE BENEFIT OF THE PUBLIC AGAIN IN THE FUTURE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffrey N Vinik Trustee | 7.5 | $0 | |
Mary Penny Vinik Trustee & President | 8 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Partners Asset Management Llc | 12/30/22 | $1,986,496 |
Liz Dimmitt Llc | 12/30/22 | $66,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $547,786 |
| Dividends & Interest | $720,637 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $28,505,386 |
| Capital Gain Net Income | $36,459,551 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $29,773,809 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $62,142 |
| Pension plans, employee benefits | $8,618 |
| Interest | $11,476 |
| Taxes | $51,500 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $35 |
| Printing and publications | $0 |
| Other expenses | $1,604,012 |
| Total operating and administrative expenses | $2,412,230 |
| Contributions, gifts, grants paid | $12,657,229 |
| Total expenses and disbursements | $15,069,459 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $44,740,321 |
| 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 | $89,686,016 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $4,105,000 |
| Total assets | $192,173,639 |
| 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 | $4,531,705 |
| Total liabilities | $4,531,705 |
Grants Awarded
Over the last fiscal year, Vinik Family Foundation has awarded $14,324,185 in support to 252 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN HEART ASSOC PURPOSE: GENERAL SUPPORT | $25,000 |
AMERICAN FOUNDATION FOR SUCIDE PREVENTION PURPOSE: GENERAL SUPPORT | $2,500 |
AMERICAN LUNG ASSOCIATION PURPOSE: GENERAL SUPPORT | $5,000 |
AMERICAN RED CROSS PURPOSE: GENERAL SUPPORT | $5,000 |
ARTS CONSERVATORY FOR TEENS PURPOSE: GENERAL SUPPORT | $5,000 |
ARTSPACE INC PURPOSE: GENERAL SUPPORT | $100,000 |