The Mitzen Foundation Inc
The Mitzen Foundation Inc, also known as The Business for Good Foundation, is a private 501(c)(3) foundation based in Saratoga Springs, New York. Established in 2020, the foundation engages in charitable grant-making and financial support of charitable programs aligned with the philanthropic interests of the Mitzen family. The foundation operates a distinctive model that includes acquiring and operating businesses whose profits are directed entirely toward charitable causes.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$1.5M
-80.2% YoY
Annual Giving
$448K
+10.0% YoY
Grant Count
7
-50.0% YoY
Avg Grant Size
$64K
+120.0% YoY
Mission & Focus Areas
The foundation's mission is to build thriving communities by owning, accelerating, and assisting businesses in the greater Capital Region. The foundation's work is rooted in four core pillars:
- Economic mobility
- Workforce development
- Housing
- Small business support
The foundation also supports grants to help African American female lawyers start their own practices, and maintains a broader focus on education, philanthropy, voluntarism, and human services.
Grantmaking
The foundation made $447,500 in total giving in 2024. Recent grants include:
Grant Range
is approximately $5,000, with an average grant size of $20,900 across the foundation's history.
Average Grant
of $20,900 across the foundation's history.
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Geographic Focus
Where this funder awards grants
The foundation initially focused on local giving in and around Albany, New York and the greater Capital Region. The foundation has since expanded its geographic reach beyond the local area.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
As of 2024:
- Total Assets: $1,457,311
- Total Revenues: $681,306
- Total Expenses: $567,604
- Number of Employees: 0
As of 2023:
- Total Assets: $7.37 million
- Total Revenues: $697,000
- Total Expenses: $976,000
The foundation's assets are invested to generate passive income and increase value to sustain funding for their charitable purpose.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $1,457,311 | $7,374,685 | $6,042,252 |
| Revenue | $681,306 | $697,324 | $2,396,097 |
| Expenses | $567,604 | $976,201 | $5,068,774 |
| Qualifying Distributions | $447,500 | $406,750 | $3,464,470 |
| Net Investment Income | — | — | — |
| Distributable Amount | $17,947 | $27,790 | $210,603 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 7 recipients in 2024
Grant Size Distribution
121 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
- Edward G. Mitzen — President/Treasurer and Co-founder
- Lisa A. Mitzen — Vice President/Secretary and Co-founder
- Jahkeen Hoke — Chief Executive Officer
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| LISA AMITZEN | PRESIDENT/TREASURER | 1 | — |
| EDWARD GMITZEN | VICE PRESIDENT/SECRETARY | 1 | — |
Recent News & Activity
Recent developments and announcements
Ed Mitzen has been actively engaged in hands-on philanthropy beyond the foundation's formal grantmaking. In 2022, he made a $1 million donation directly to three known centenarian survivors of the 1921 Tulsa Race Massacre. Mitzen, who built three businesses generating over $1 billion in revenue combined, continues to demonstrate deep personal involvement in the foundation's work and remains committed to addressing historical injustices and supporting underserved communities.
Ed Mitzen\u2019s approach to hands-on giving | Inside PhilanthropyThe foundation's Business for Good model has acquired Hattie's Restaurant in Saratoga Springs, with all profits from the business directed to local charitable causes. Under this model, the foundation provides full-time employees with fully covered healthcare benefits and competitive salaries while redirecting business profits to charitable organizations.
Subject Areas
Focus areas based on grantmaking activity
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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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