Overview
What is Dietrich Foundation?
The Dietrich Foundation is a Pennsylvania-based nonprofit organization, specifically located in Pittsburgh, with a team of 17 individuals. Its primary mission is to support higher education and various charitable causes, primarily in the greater Pittsburgh area. The foundation distributes a significant portion of its annual net income to 13 identified organizations, including Carnegie Mellon University, the University of Pittsburgh, Thiel College, Princeton University, Duquesne University, and Chatham University. The foundation's annual support to these organizations represents ongoing and increasing financial commitment. The exact list of supported organizations can be found in Schedule A, Part I. The Foundation's activities are governed by a declaration of trust, ensuring consistent financial contributions to its beneficiaries.
Official website here: www.dietrichfoundation.net
What are the reviews and ratings of this charity?
Charity Navigator Rating 96% - Four-Star out of Four Star rating
The Dietrich Foundation has achieved an impressive Four-Star rating from Charity Navigator, reflecting a strong commitment to accountability and finance. With a high score of 96%, the foundation demonstrates effective management of its resources, including a robust program expense ratio of 86.36%, indicating that the majority of its funds are directed towards its programs.
The foundation also excels in governance, featuring an independent board that is comprised of 88% independent members. This transparency is bolstered by policies in place, including conflict of interest and whistleblower protections, all of which have received top scores. Additionally, the absence of any material diversion of assets further reinforces the foundation's integrity in financial management.
While the organization showcases many strengths, potential donors and stakeholders should remain aware of the ongoing need for transparency and engagement. However, the overall metrics suggest a well-managed nonprofit with a clear focus on its mission and the integrity to back it up.
This AI summary has been generated from information found on Charity Navigator.
Is Dietrich Foundation legitimate?
Dietrich Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Dietrich Foundation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $5,261,107
Professional Fundraising Fees: $0
Other Salaries and Wages: $492,735
For more financial information, click here
Official website here: www.dietrichfoundation.net
What is the mission statement of Dietrich Foundation?
The Dietrich Foundation serves to benefit various charitable causes, with a primary focus on higher education. It provides ongoing and increasing financial support to Carnegie Mellon University, University of Pittsburgh, Thiel College, Princeton University, Duquesne University, and Chatham University. In addition to these educational institutions, the foundation also contributes to other charitable organizations in western Pennsylvania, expanding its reach to further philanthropic efforts.
Official website here: www.dietrichfoundation.net
Who is the CEO of Dietrich Foundation?
Edward J Grefenstette is the Community Trustee, Preside of Dietrich Foundation.
Official website here: www.dietrichfoundation.net
What is the revenue of Dietrich Foundation?
Dietrich Foundation's revenue in 2022 was $82,615,692.
Official website here: www.dietrichfoundation.net
Who are the executives of Dietrich Foundation and what are their salaries?
The average compensation at Dietrich Foundation during 2022 was $338,461. There are 17 employees at Dietrich Foundation.
Here are 14 key members and their salaries:
- Compensation: $2,134,476
- Related: $0
- Other: $1,854,743
- Compensation: $25,000
- Related: $0
- Other: $0
- Compensation: $25,000
- Related: $0
- Other: $0
- Compensation: $50,000
- Related: $0
- Other: $0
- Compensation: $25,000
- Related: $679,385
- Other: $139,969
- Compensation: $25,000
- Related: $1,919,046
- Other: $92,161
- Compensation: $25,000
- Related: $334,713
- Other: $71,135
- Compensation: $25,000
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $723,305
- Related: $0
- Other: $539,014
- Compensation: $381,620
- Related: $0
- Other: $22,270
- Compensation: $641,331
- Related: $0
- Other: $503,114
- Compensation: $309,074
- Related: $0
- Other: $208,869
- Compensation: $277,623
- Related: $0
- Other: $173,853
Official website here: www.dietrichfoundation.net
Where can I find the form 990 for Dietrich Foundation?
Dietrich Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.dietrichfoundation.net
Learn more at the official website: www.dietrichfoundation.net
Mission Statement of Dietrich Foundation
The Dietrich Foundation, a philanthropic organization, is dedicated to advancing higher education and charitable causes. Its primary focus is on providing ongoing and growing financial assistance to a select group of organizations, including Carnegie Mellon University, the University of Pittsburgh, Thiel College, Princeton University, Duquesne University, and Chatham University. By doing so, the Dietrich Foundation aims to make a significant impact on education in the greater Pittsburgh, Pennsylvania area.
In addition to its primary mission, the Dietrich Foundation also extends its support to other charitable organizations in western Pennsylvania. These organizations benefit from the Foundation's ongoing and increasing financial contributions. The Dietrich Foundation's charitable endeavors are not limited to education, and it takes pride in making a difference in various aspects of the community.
The Dietrich Foundation's mission is centered on the belief that financial support plays a crucial role in the success and growth of the organizations it assists. By providing this support, the Foundation enables these organizations to continue their vital work and make a positive impact on the lives of those they serve. The Dietrich Foundation's commitment to higher education and charitable causes is unwavering, and its ongoing financial contributions are essential to the continued success of the supported organizations.
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Impact
October, 2024
The Dietrich Foundation significantly impacts higher education and charitable efforts primarily in the greater Pittsburgh area. It provides consistent and increasing financial support to 13 organizations, including prominent universities like Carnegie Mellon, the University of Pittsburgh, and Duquesne University. By distributing at least 85% of its annual net income, and ensuring a minimum distribution of 3% of its net assets, the foundation plays a crucial role in enhancing educational opportunities and resources.
This financial backing not only supports academic programs and initiatives but also facilitates community development through various charitable contributions. The foundation's commitment to ongoing support fosters collaboration and innovation within the educational landscape, benefiting students, faculty, and the broader community. Through its targeted funding, the Dietrich Foundation helps ensure that quality education remains accessible and that charitable purposes in Western Pennsylvania are promoted effectively.
This information is meant to be a general summary of Dietrich Foundation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $82,615,692
- Gross Receipts: $142,318,445
Assets and Liabilities:
- Total Assets: $1,517,931,296
- Total Liabilities: $3,414,232
- Net Assets: $1,514,517,064
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Organization Details
Founding Year
2011
Phone
(412) 261-2766Principal Officer
Edward J Grefenstette
Main Address
USX TOWER 600 GRANT ST 5360, PITTSBURGH, PA, 15219
Website
www.dietrichfoundation.netNTEE Category
Code: T20 - Philanthropy
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