Walter Kaitz Foundation
- Assets
- $3.7m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Washington, DC
- Founding
- 02/1981
- Data as of
- 12/2022
- EIN
- 94-2666764
Organization Overview
Walter Kaitz Foundation is located in Washington, DC. The organization was established in 1981. According to its NTEE Classification (A12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Walter Kaitz 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 12/2022, Walter Kaitz Foundation generated $1.6m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.4%) each year. All expenses for the organization totaled $1.6m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (6.3%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Walter Kaitz Foundation has awarded 31 individual grants totaling $10,128,193. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE WALTER KAITZ FOUNDATION IS A NATIONAL ORGANIZATION DEDICATED TO DIVERSITY WITHIN THE CABLE AND BROADBAND INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS PROGRAM - TO FURTHER THE FOUNDATION'S MISSION BY FUNDINGCREATIVE AND UNIQUE PROJECTS IN TWO AREAS:1. COMMUNITY AND RESOURCE DEVELOPMENT: THE FOUNDATION SEEKS TO FUND INITIATIVES THAT PROVIDE THE CABLE AND BROADBAND INDUSTRY WITH BETTER ACCESS TO DIVERSE SUPPLIERS AND ENTREPRENEURS WITH THE TOOLS TO COMPETE EFFECTIVELY WITHIN THE INDUSTRY. THE GRANTS PROGRAM ALSO SEEKS TO FUND COLLABORATIVE EFFORTS WITHIN THE INDUSTRY AND COMMUNITIES THAT DEMONSTRATE AND REINFORCE THE IMPORTANCE OF DIVERSITY.2. WORKFORCE DEVELOPMENT: THE FOUNDATION SEEKS TO HELP THOSE ORGANIZATIONS AND INSTITUTIONS THAT SERVE DIVERSE PROFESSIONALS WITHIN THE INDUSTRY TO DEVELOP AND PROVIDE NEW TOOLS AND TRAINING TO STRENGTHEN THEIR SKILLS AND ACCELERATE THEIR CAREER ADVANCEMENT.
OUTREACH PROGRAM - THE PROGRAM COORDINATES EFFORTS WITHIN THE CABLE AND BROADBAND INDUSTRY, AND THE BROADER COMMUNITIES WITH WHICH THE INDUSTRY INTERACTS. THE FOUNDATION WEBSITE PROMOTES THE WORK OF THE FOUNDATION, DISSEMINATES DIVERSITY BEST PRACTICES, AND MAINTAINS INFORMATION ON OPPORTUNITIES IN THE INDUSTRY. INDIVIDUALS AND DIVERSE SUPPLIERS MAY ALSO ATTEND EVENTS SCHEDULED ON THE FOUNDATION'S CALENDAR AND UTILIZE OTHER USEFUL LINKS AND RESOURCES ON THE WEBSITE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Pat Mcadaragh Chairman | OfficerTrustee | 1 | $0 |
Bob Bakish Secretary | OfficerTrustee | 1 | $0 |
Mark Greatrex Treasurer | OfficerTrustee | 1 | $0 |
Thomas Rutledge Vice-Chairman | OfficerTrustee | 1 | $0 |
Dave Watson Immediate Past Chairman | OfficerTrustee | 1 | $0 |
Michael Powell President & CEO | OfficerTrustee | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Marriott Business Services Food & Facilities For Kaitz Dinner | 12/30/22 | $221,810 |
O'keefe Communications Llc Production Services For Kaitz Dinner | 12/30/22 | $147,657 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $787,707 |
| Fundraising events | $913,200 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $339 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,701,246 |
| Total Program Service Revenue | $125,600 |
| Investment income | $66,624 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $131 |
| Net Income from Fundraising Events | -$258,318 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,635,283 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $672,654 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $489,140 |
| Compensation of current officers, directors, key employees. | $97,827 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $98,571 |
| Pension plan accruals and contributions | $20,271 |
| Other employee benefits | $16,593 |
| Payroll taxes | $28,617 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $35,924 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,061 |
| Fees for services: Other | $67,728 |
| Advertising and promotion | $0 |
| Office expenses | $8,792 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $35,188 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $69 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,565,848 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $38,484 |
| Savings and temporary cash investments | $547,984 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $76,145 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $7,708 |
| Net Land, buildings, and equipment | $6,650 |
| Investments—publicly traded securities | $2,985,500 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,662,471 |
| Accounts payable and accrued expenses | $234,547 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $234,547 |
| Net assets without donor restrictions | $3,427,924 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $3,662,471 |
Grants Awarded
Over the last fiscal year, Walter Kaitz Foundation has awarded $672,654 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
EMMA BOWEN FOUNDATION PURPOSE: PROMOTE DIVERSITY IN THE CABLE INDUSTRY | $265,000 |
NATL ASSOC FOR MULTI-ETHNICITY IN COMM PURPOSE: PROMOTE DIVERSITY IN THE CABLE INDUSTRY | $149,872 |
T HOWARD FOUNDATION PURPOSE: PROMOTE DIVERSITY IN THE CABLE INDUSTRY | $118,987 |
WOMEN IN CABLE TELECOMMUNICATIONS PURPOSE: PROMOTE DIVERSITY IN THE CABLE INDUSTRY | $138,795 |