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Cutco Foundation Inc. is a private corporation based in OLEAN, NY. The foundation received its IRS ruling in 1996. The principal officer is % James Stitt. It holds total assets of $10.5M. Annual income is reported at $1.2M. THE ENTITY INTENDS TO SUPPORT THE CHARITABLE, RELIGIOUS, SCIENTIFIC AND EDUCATIONAL PURPOSES OF ANY ORGANIZATION, SO LONG AS SUCH ORGANIZATION IS DESCRIBED IN SECTIONS 170 (B) (1) 501 (C) (3), 2055 AND 2522 OF THE INTERNAL REVENUE CODE OF 1983. According to available records, Cutco Foundation Inc. has made 322 grants totaling $2.8M, with a median grant of $2K. Annual giving has grown from $581K in 2020 to $957K in 2023. Grantmaking activity was highest in 2022 with $1.3M distributed across 168 grants. Individual grants have ranged from $100 to $304K, with an average award of $9K. The foundation has supported 108 unique organizations. The foundation primarily supports organizations in New York, Florida, Ohio, which account for 93% of all grants. Grantmaking reaches organizations across 12 states. Contributions to this foundation are tax-deductible.
THE ENTITY INTENDS TO SUPPORT THE CHARITABLE, RELIGIOUS, SCIENTIFIC AND EDUCATIONAL PURPOSES OF ANY ORGANIZATION, SO LONG AS SUCH ORGANIZATION IS DESCRIBED IN SECTIONS 170 (B) (1) 501 (C) (3), 2055 AND 2522 OF THE INTERNAL REVENUE CODE OF 1983.
THE ENTITY INTENDS TO SUPPORT THE CHARITABLE, RELIGIOUS, SCIENTIFIC AND EDUCATIONAL PURPOSES OF ANY ORGANIZATION, SO LONG AS SUCH ORGANIZATION IS DESCRIBED IN SECTIONS 170 (B) (1) 501 (C) (3), 2055 AND 2522 OF THE INTERNAL REVENUE CODE OF 1983. Based on available records, the foundation has funded 322 grants. Its grantmaking reaches organizations primarily in NY, FL, OH.
Cutco Foundation Inc. has distributed a total of $2.8M across 322 grants. The median grant size is $2K, with an average of $9K. Individual grants have ranged from $100 to $304K.
EDUCATIONAL, HEALTH AND YOUTH AS RESTRICTED BY BY-LAWS OF THE CORPORATION.
Cutco Foundation Inc. is headquartered in OLEAN, NY. While based in NY, the foundation distributes grants to organizations across 12 states.
| Name | Title | Compensation | Benefits | Total |
|---|---|---|---|---|
| John Stitt | DIRECTOR | $0 | $0 | $0 |
| James M Stitt | TREASURER/SECRETARY | $0 | $0 | $0 |
| Carol Stitt | DIRECTOR | $0 | $0 | $0 |
| James E Stitt | PRESIDENT | $0 | $0 | $0 |
Total Giving
$975K
Total Assets
$10.3M
Fair Market Value
$11.6M
Net Worth
$10.3M
Grants Paid
$957K
Contributions
$1.3M
Net Investment Income
$272K
Distribution Amount
$527K
Total: $0
Total Grants
322
Total Giving
$2.8M
Average Grant
$9K
Median Grant
$2K
Unique Recipients
108
Most Common Grant
$1K
of 2023 grantees were first-time recipients
| Recipient | Location | Amount | Year |
|---|---|---|---|
| Christ United Methodist ChurchBACK TO SCHOOL FAIR | Olean, NY | $3K | 2023 |
| Salvation ArmyKETTLE DRIVE | Olean, NY | $2K | 2023 |
| Pfeiffer Nature CenterANNUAL GIFT | Portville, NY | $1K | 2023 |
| American Cancer SocietyOLEAN DRIVE | Syracuse, NY | $1K | 2023 |
GRAND ISLAND, NE
CARMEL VALLEY, CA
FORT WORTH, TX
NAPLES, FL
| 2018 | 990PF | View |
| 2017 | 990PF | View |
| 2016 | 990PF | View |
| Alzheimer'S AssociationANNUAL GIFT | Amherst, NY | $304K | 2023 |
| Jamestown Community College FoundationENTREPRENEUR PROGRAM YEAR 2 OF 2 - 2023 | Olean, NY | $100K | 2023 |
| Saint Bonaventure UniversityBOLDER BONAVENTURE YEAR 1 OF 5 - 2023 | St Bonaventure, NY | $100K | 2023 |
| Ymca Of The Twin TiersYEAR 2 OF 5 - 2023 LAINE OUTDOOR CENTER | Olean, NY | $100K | 2023 |
| Olean General Hospital FoundationVASCULAR SERVICES | Olean, NY | $100K | 2023 |
| Archbishop Walsh AcademySPECIAL REQUEST TO GET THROUGH THE SCHOOL YEAR | Olean, NY | $50K | 2023 |
| United Way Of Cattaraugus CountyANNUAL GIFT | Olean, NY | $40K | 2023 |
| Olean Business Development OperationsDREAM IT. DO IT. | Olean, NY | $20K | 2023 |
| Roswell Park Alliance FoundationANNUAL GIFT | Buffalo, NY | $15K | 2023 |
| IntandemANNUAL GIFT | Olean, NY | $10K | 2023 |
| Angel Wings InternationalANNUAL GIFT | Palmetto Bay, FL | $8K | 2023 |
| American Red CrossDISASTER RELIEF | Buffalo, NY | $5K | 2023 |
| Cattaraugus Region Community FoundationGREATER OLEAN HOSPITALITY MONUMENT FUND | Olean, NY | $5K | 2023 |
| Bonita Springs Senior Citizen CenterANNUAL GIFT | Bonita Springs, FL | $5K | 2023 |
| Under 'S' Productions IncANNUAL GIFT | Springfield, OH | $5K | 2023 |
| University Of DaytonMATCH STITT SCHOLARS PROGRAM | Dayton, OH | $5K | 2023 |
| Houghton University23-24 ARTIST SERIES | Houghton, NY | $4K | 2023 |
| Cattaraugus County SpcaANNUAL GIFT | Olean, NY | $3K | 2023 |
| Rural Outreach CenterYEAR 3 OF 4 - 2023 | East Aurora, NY | $3K | 2023 |
| Ram Fund Of Cattaraugus CountyANNUAL GIFT | Olean, NY | $3K | 2023 |
| Boy Scouts Of America - Alleghany Highlands CouncilANNUAL GIFT | Falconer, NY | $2K | 2023 |
| Olean Food PantryANNUAL GIFT | Olean, NY | $2K | 2023 |
| Girls Scouts Of WnyANNUAL GIFT | Buffalo, NY | $2K | 2023 |
| Immanuel Christian Child CareANNUAL GIFT | Olean, NY | $2K | 2023 |
| Cattaraugus Homeless VeteransVFW POST 5296 | Olean, NY | $2K | 2023 |
| Equestrian Connection NfpBARN PARTY | Libertyville, IL | $2K | 2023 |
| Church Without WallsFEET HEAT EVENT | Olean, NY | $2K | 2023 |
| Greater Olean Area Chamber Of CommerceORNAMENTAL OLEAN | Olean, NY | $1K | 2023 |
| Canticle FarmsANNUAL GIFT | Allegany, NY | $1K | 2023 |
| Roswell ParkALL STAR NIGHT 2023 | Buffalo, NY | $1K | 2023 |
| Interfaith CaregiversADOPT A RIDE | Olean, NY | $1K | 2023 |
| Care For ChildrenANNUAL GIFT | Bradford, PA | $1K | 2023 |
| Home Care & HospiceWALK & RUN | Olean, NY | $1K | 2023 |
| Southern Tier Wounded Warrior BenefitANNUAL GIFT | Topeka, KS | $1K | 2023 |
| Special Olympics New YorkWNY LAW ENFORCEMENT TORCH RUN | Williamsville, NY | $1K | 2023 |
| Nfjc Of WnyANNUAL GIFT | Buffalo, NY | $1K | 2023 |
| Friends Of Good MusicANNUAL GIFT | Olean, NY | $1K | 2023 |
| Genesis HouseANNUAL GIFT | Olean, NY | $1K | 2023 |
| Casa-TrinityANNUAL GIFT | Olean, NY | $1K | 2023 |
| St Stephens Episcopal ChurchTHANKSGIVING DINNER | Olean, NY | $1K | 2023 |
| Vfw Post 1619 Homeless VeteransANNUAL GIFT | Olean, NY | $1K | 2023 |
| Cancer Center At Froedtert West Bend HospitalMEMORIAL | Olean, NY | $1K | 2023 |
| Friends Of The Library Of Olean NyANNUAL GIFT | Olean, NY | $1K | 2023 |
| Mercyflight Of WnyANNUAL GIFT | Buffalo, NY | $1K | 2023 |
| Olean Youth Huskies Football And CheerANNUAL GIFT | Olean, NY | $600 | 2023 |
| Town Of SouthbridgeFIRE STATION BUILDING FUND | Southbridge, MA | $500 | 2023 |
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