Despirt Foundation Inc

BUFFALO, NY EIN: 16-6034186

Despirt Foundation Inc is a private foundation, based in BUFFALO, NY. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $33K in total assets. In 2024, it awarded 19 grants totaling $6K. Net investment income was $5K.

Financial Overview

From 2024 IRS Form 990-PF · View filing

Total Assets

$33K

-8.2% YoY

Annual Giving

$6K

+3.0% YoY

Grant Count

-5.0% YoY

Avg Grant Size

$326.316

+8.4% YoY

Under IRS private-foundation payout rules, Despirt Foundation Inc reported a distributable amount of $7K for 2024 — the minimum it must pay out in qualifying distributions.

About Despirt Foundation Inc

Based on IRS filings

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Geographic Focus

Where this funder awards grants

Grant Distribution by State

New York $28K (98%)

Indiana $540 (2%)

States

Indiana New York

Cities

BuffaloCheektowagaClarenceDepewGetzvilleKenmoreLewistonNotre Dame

Financial History

Multi-year comparison from IRS filings

Revenue

Expenses

Qualifying Distributions

Net Investment Income

Metric	2024	2023	2022
Total Assets	$33,142	$36,083	$38,672
Revenue	$6,699	$6,226	$4,258
Expenses	$9,640	$8,815	$6,882
Qualifying Distributions	$6,200	$6,020	$5,860
Net Investment Income	$4,669	$4,300	$2,064
Distributable Amount	$6,663	$6,029	$6,153

Giving Over Time

Total grant dollars and number of grants per year

Grant Insights

How this funder distributes its grants

Top Recipients

Top 10 recipients in 2024

Grant Size Distribution

98 grants across all recorded years

Giving History

Grant recipients and amounts by year

Among its reported 2024 grants, the largest include Canisius College ($2,900), Canisius High School ($525), D' Youville College ($525).

Recipient	Purpose	Amount
ARTPARK & COMPANY INC LEWISTON, NY	QUALIFYING CHARITY	$120
BROTHERS OF MERCY CLARENCE, NY	QUALIFYING CHARITY	$120
BUFFALO PHILHARMONIC ORCHESTRA SOCIETY INC BUFFALO, NY	QUALIFYING CHARITY	$120
CANISIUS COLLEGE BUFFALO, NY	QUALIFYING CHARITY	$2,900
CANISIUS HIGH SCHOOL BUFFALO, NY	QUALIFYING CHARITY	$525
CANTALICIAN CENTER FOR LEARNING DEPEW, NY	QUALIFYING CHARITY	$185
D' YOUVILLE COLLEGE BUFFALO, NY	QUALIFYING CHARITY	$525
GERARD PLACE BUFFALO, NY	QUALIFYING CHARITY	$235
HAUPTMAN WOODWARD MEDICAL RESEARCH BUFFALO, NY	QUALIFYING CHARITY	$235
HOLY CROSS MISSIONS NOTRE DAME, IN	QUALIFYING CHARITY	$120

Leadership & Key People

Officers and directors from IRS filings

Compensation Overview

From 2024 IRS filing

From 2024 filing

Name	Title	Hours	Compensation
MICHELE O HEFFERNAN	DIRECTOR	1	—
WILLIAM BUSGAGLIA	DIRECTOR	1	—
PETER M HEFFERNAN	DIRECTOR	1	—

Frequently Asked Questions

How large is Despirt Foundation Inc?

As of 2024, Despirt Foundation Inc holds $33K in total assets with $7K in annual revenue. It awarded 19 grants totaling $6K in 2024.

Where does Despirt Foundation Inc operate?

Despirt Foundation Inc has awarded grants in Indiana, New York.

What size grants does Despirt Foundation Inc award?

In 2024, Despirt Foundation Inc awarded 19 grants totaling $6K — an average of about $326.316 per grant, based on its IRS Form 990 filings.

How much is Despirt Foundation Inc required to give away each year?

Private foundations must generally distribute about 5% of their assets annually. For 2024, Despirt Foundation Inc reported a distributable amount of $7K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.