J H Levit Foundation

The J H Levit Foundation is a private nonprofit organization located in Newtown Square, Pennsylvania, and has been tax-exempt since March 1975. As a 501(c)(3) organization, it is designated for purposes that include religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition, and the prevention of cruelty to children or animals. Donations made to this foundation are eligible for tax deduction.

Mission and Activities

While specific details about its mission are not publicly available, the foundation operates primarily as a grant-making organization. It focuses on charitable disbursements, which constitute a significant portion of its activities. In recent years, the foundation has allocated a substantial amount of its expenses towards charitable causes.

Financials

The J H Levit Foundation's financial data is detailed in its annual Form 990-PF filings submitted to the IRS. For the fiscal year ending in 2023, the foundation reported total assets of $291,785 and zero liabilities. It generated revenue mainly from contributions, totaling $10,000, which accounted for 98.2% of its revenue. Dividends and sales of assets contributed smaller portions. The foundation disbursed a significant portion of its expenses towards charitable activities, amounting to $8,087, which represented 92.5% of its total expenses.

Governance

The governance structure includes trustee roles, with Henri Levit noted as a trustee. The compensation for officers and trustees is reported as zero in recent filings, indicating that it may be included in charitable disbursements.

Conclusion

The J H Levit Foundation operates within a structure typical of private foundations, focusing on charitable giving and disbursements. While it is not as widely recognized as some larger U.S. foundations, its activities are consistent with the broader goals of private philanthropy in supporting various social causes.

[1] https://projects.propublica.org/nonprofits/organizations/237408956 [2] https://springfieldartsco.org/levittampspringfield/ [3] https://levitt.org [4] https://levitt.org/memphis-past/ [5] https://www.instrumentl.com/990-report/j-h-levit-foundation