Eugene C and Gail V Sit Foundation
The Eugene C and Gail V Sit Foundation is a private family foundation established in 1986 and based in Minneapolis, Minnesota. The foundation operates as an independent family foundation with a focus on supporting charitable causes primarily within Minnesota.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
—
Annual Giving
$921K
+22.8% YoY
Grant Count
6
-14.3% YoY
Avg Grant Size
$154K
+43.3% YoY
Mission & Focus Areas
The foundation's giving priorities include:
- Military appreciation and support for military personnel and their families
- Education, particularly science and STEM education
- The arts
- Social services and human services
- Philanthropy and voluntarism
The foundation has demonstrated particular commitment to supporting Minnesota's military community through significant funding of military appreciation initiatives.
Grantmaking
The foundation has also provided support for educational initiatives, including funding for a chair position at the University of Minnesota Medical School's Department of Surgery.
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Geographic Focus
Where this funder awards grants
The foundation primarily funds organizations and initiatives in Minnesota, with particular emphasis on the Minneapolis area and statewide causes.
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
- Total Assets: $4,427,845
- Total Annual Giving: $921,200
- Foundation Type: Private family foundation
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | — | — | — |
| Revenue | — | — | — |
| Expenses | — | — | — |
| Qualifying Distributions | — | — | — |
| Net Investment Income | — | — | — |
| Distributable Amount | — | — | — |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 6 recipients in 2024
Grant Size Distribution
33 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
Eugene "Gene" C. Sit (1936–2005) was the founder and served as Chairman, CEO, and Chief Investment Officer of Sit Investment Associates, Inc., a Minneapolis-based investment advisory firm founded in July 1981. He was a member of the Carleton College Board of Trustees from 1990 to August 2005 and focused his trustee efforts on the Investment Committee. He is survived by his wife, Gail, five sons (Roger, Ronald, Robert, Raymond, and Richard), a daughter (Debra), and 11 grandchildren.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| RONALD D SIT | Director | — | — |
Contact Information
Address: 80 S 8th St Ste 3300, Minneapolis, MN 55402-2206
Telephone: 612-359-2530
EIN: 41-1572465
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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