Hitz Foundation
- Assets
- $82.0m
- Revenue
- $6.9m
- Investments
- $67.4m
- Employees
- 0
- Location
- Palo Alto, CA
- Founding
- 06/2001
- Data as of
- 12/2023
- EIN
- 94-3379521
Organization Overview
Hitz Foundation is located in Palo Alto, CA. The organization was established in 2001. According to its NTEE Classification (T90) the organization is classified as: Named Trusts N.E.C., 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. Hitz 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 12/2023, Hitz Foundation generated $6.9m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $5.0m during the year ending 12/2023. While expenses have increased by 7.3% per year over the past 9 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 2014, Hitz Foundation has awarded 96 individual grants totaling $44,063,497. 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.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kenneth Hitz President | 30 | $284,329 | |
Kevin Mcauliffe Secretary | 0.25 | $0 | |
David Hitz Treasurer/chairman | 20 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Frank Rimerman Co Llp | 12/30/23 | $160,100 |
Corient Private Wealth Llc | 12/30/23 | $159,480 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $5,810,758 |
| Interest on Savings | $85,016 |
| Dividends & Interest | $1,929,493 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$877,350 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | -$8,742 |
| Total Revenue | $6,939,175 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $284,329 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $27,278 |
| Taxes | $119,989 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $9,928 |
| Printing and publications | $0 |
| Other expenses | $252,668 |
| Total operating and administrative expenses | $1,013,772 |
| Contributions, gifts, grants paid | $4,031,000 |
| Total expenses and disbursements | $5,044,772 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | -$1 |
| Savings and temporary cash investments | $14,314,415 |
| Net Accounts receivable | $189,731 |
| 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 | $67,430,302 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $20,318 |
| Total assets | $81,954,765 |
| 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, Hitz Foundation has awarded $4,031,000 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
GLOBAL DIGITAL HERITAGE PURPOSE: RESEARCH | $886,000 |
ARIZONA STATE UNIVERSITY FOUNDATION PURPOSE: EDUCATION | $50,000 |
MAASAI WILDERNESS CONSERVATION FUND PURPOSE: ENVIRONMENT | $200,000 |
PACUNAM PURPOSE: SCIENTIFIC AND ARCHAELOGICAL RESEARCH | $730,000 |
OREGON SHAKESPEARE FESTIVAL PURPOSE: ARTS | $2,000,000 |
WORLD MONUMENTS FUND PURPOSE: HISTORY | $65,000 |