Richard and Lili Ann Zisook Family Foundation

Overview

The Richard and Lili Ann Zisook Family Foundation is a private foundation based in Chicago, Illinois. It operates primarily as a grantmaking organization, providing financial support through unrestricted grants. The foundation is recognized as a 501(c)(3) organization, which means donations to it are tax-deductible.

Financial Overview

In recent years, the foundation has received contributions predominantly from donations, with negligible income from other sources like interest revenue. For instance, in the fiscal year ending December 2023, it received contributions of $76,395, accounting for 99.9% of its total revenue[1].

The foundation's primary expense is charitable disbursements. In 2023, they made $66,456 in such grants, representing 97.9% of their total expenses[1]. This trend of focusing a significant portion of their resources towards charitable activities has been consistent over past years, often exceeding or closely matching the amounts received in contributions[1].

Governance and Operations

Richard Zisook serves as the foundation's president, and Liliann Zisook acts as its secretary. Neither of them receives compensation for their roles as officers[1].

Assets and Liabilities

As of 2023, the foundation reported total assets of $14,394 and no liabilities[1]. This suggests a financially stable and lean operation, focusing on distributing funds to charitable causes rather than accumulating assets.

Conclusion

The Richard and Lili Ann Zisook Family Foundation is a philanthropic entity committed to supporting charitable initiatives through its grantmaking activities. Its operational model emphasizes efficient use of resources, with a strong focus on maximizing the impact of charitable disbursements.