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 4 years, it has increased revenue by an average of 54.5% each year . All expenses for the organization totaled $15.1m during the year ending 12/2020. While expenses have increased by 13.3% per year over the past 4 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 310 individual grants totaling $22,769,415. 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
THE FOUNDATION OWNS YAYOI KUSAMA'S ART EXHIBIT ENTITLED "LOVE IS CALLING". DURING 2020 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.
THE 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 INITIAL AGREEMENT ANTICIPATED AN EXHIBIT THAT WOULD BE FREE AND OPEN TO THE PUBLIC BETWEEN JANUARY 28 AND FEBRUARY 18, 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 IT DURING A COMPARABLE TIME PERIOD IN 2022. THE 2020 THE FOUNDATION INCURRED CERTAIN EXPENSES IN CONNECTION WITH THE CANCELLED EXHIBIT. THE MOST SIGNIFICANT EXPENSE, A $550,000 PAYMENT, IS BEINGCREDITED BY APL TO THE 2022 EXHIBIT.
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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 |
|---|---|---|
Oakpoint Advisors | 12/30/21 | $503,629 |
Partners Asset Management Llc | 12/30/21 | $1,456,990 |
Deloitte Tax Llp | 12/30/21 | $97,835 |
Delaware Freeport Llc | 12/30/21 | $43,492 |
Liz Dimmitt Llc | 12/30/21 | $37,400 |
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 $10,112,186 in support to 190 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF FLORIDA FOUNDATION INC PURPOSE: GENERAL SUPPORT | $1,000,000 |
Weslaco, TX PURPOSE: GENERAL SUPPORT | $1,000,000 |
Tampa, FL PURPOSE: GENERAL SUPPORT | $1,000,000 |
BRIGHAM AND WOMEN'S HOSPITAL PURPOSE: GENERAL SUPPORT | $500,000 |
DUKE UNIVERSITY PURPOSE: GENERAL SUPPORT | $400,000 |
Tampa, FL PURPOSE: GENERAL SUPPORT | $315,201 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Vinik Family Foundation has recieved totaling $20,000.
| Awarding Organization | Amount |
|---|---|
Kimmins Terrier Foundation Inc Tampa, FL PURPOSE: ARTS AND EDUCATION ENDOWMENTS | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Georgia Goal Scholarship Program Inc Peachtree Corners, GA | $58,000,031 | $45,569,079 |
Georgia State University Athletic Association Inc Atlanta, GA | $12,025,331 | $28,251,593 |
Vinik Family Foundation Tampa, FL | $192,173,639 | $29,773,809 |
Hire Heroes Usa Alpharetta, GA | $7,840,449 | $13,205,192 |
Scholarships For Kids Inc Birmingham, AL | $21,791,162 | $14,541,038 |
Apogee Georgia School Choice Scholarship Fund Atlanta, GA | $21,549,156 | $14,581,744 |
Special Operations Warrior Foundation Tampa, FL | $175,400,415 | $16,396,122 |
Inspire Brands Foundation Inc Atlanta, GA | $11,528,068 | $11,993,911 |
Floridamakes Inc Orlando, FL | $1,478,174 | $9,967,367 |
Watson-Brown Foundation Inc Thomson, GA | $0 | $9,697,974 |
Alef Fund Inc Atlanta, GA | $10,107,377 | $6,194,898 |
Broward Education Foundation Inc Fort Lauderdale, FL | $12,469,303 | $5,256,121 |