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Nonprofiteer
← STRATTEC FOUNDATION INC

Form 990 for tax year 2024

Filed by STRATTEC FOUNDATION INC.

Totals

Total revenue
$42,304
Total expenses
$166,716
Contributions and grants received
$0
Grants paid
$144,600
Program service revenue
$0
Investment income
$42,304
Other revenue
$0
Total assets, end of year
$1,877,424
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$1,877,424
Program services expenses (Part IX)
$144,600
Management and general expenses
$22,116
Fundraising expenses
$0
Program service expenses (Part III)
$144,600

Program services were 86.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 3 · Investment income

    total $7,078 · excluded $7,078

  • 7a · Gross sales of assets other than inventory

    securities $226,166

  • 7b · Less cost or other basis and sales expenses

    securities $190,940

  • 7c · Gain or loss

    securities $35,226

  • 7d · Net gain or loss

    total $35,226 · excluded $35,226

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $144,600 · program services $144,600

  • 11f · Fees: investment management

    total $3,600 · management and general $3,600

  • 24a · Other expenses: ADMINISTRATIVE FEES

    total $18,157 · management and general $18,157

  • 24b · Other expenses: CUSTODIAL FEES

    total $359 · management and general $359

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $63,719 · end of year $16,065

  • 11 · Investments: publicly traded securities

    beginning of year $1,750,461 · end of year $1,861,359

  • 27 · Net assets without donor restrictions

    beginning of year $1,814,180 · end of year $1,877,424

Mission and programs · 2024

Mission

SEE SCHEDULE O

  • SEE SCHEDULE OTHE STRATTEC FOUNDATION, INC. WAS FORMED TO OPERATE AS A SUPPORTING ORGANIZATION DESCRIBED IN SECTIONS 501(C)(3) AND 509(A)(3) OF THE INTERNAL REVENUE CODE TO RECEIVE CONTRIBUTIONS FROM HAROLD STRATTON II, AND MEMBERS OF HIS FAMILY, AND DISTRIBUTE THEM IN SUPPORT OF THE GREATER MILWAUKEE FOUNDATION. THE GREATER MILWAUKEE FOUNDATION IS A PUBLIC CHARITY DESCRIBED IN SECTIONS 509(A)(1) OF THE INTERNAL REVENUE CODE.AS SET FORTH IN THE STRATTEC FOUNDATION INC.'S ARTICLES OF INCORPORATION, "STRATTEC FOUNDATION, INC. WAS ORGANIZED, AND SHALL AT ALL TIMES BE OPERATED, EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, AND TO CARRY OUT THE PURPOSES OF, GREATER MILWAUKEE FOUNDATION, A CHARITABLE TRUST ORGANIZED PURSUANT TO THE DECLARATION OF TRUST ... IN FURTHERANCE THEREOF, THE CORPORATION SHALL BE ORGANIZED AND OPERATED EXCLUSIVELY FOR, AND ITS ACTIVITIES SHALL BE LIMITED TO, SUCH RELIGIOUS, CHARITABLE, SCIENTIFIC, LITERARY AND EDUCATIONAL PURPOSES AS WILL BENEFIT, CARRY OUT THE PURPOSES AND/OR PERFORM THE FUNCTIONS OF GREATER MILWAUKEE FOUNDATION, INCLUDING AMONG SUCH PURPOSES . . . THE MAKING OF GRANTS AND THE DISBURSEMENT OF FUNDS TO THE GREATER MILWAUKEE FOUNDATION AND/OR FOR THE BENEFIT AND/OR PURPOSES OF THE GREATER MILWAUKEE FOUNDATION."

    Expenses $144,600 · Grants $144,600

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Frank Krejci

    PRESIDENT (END 4/24)

    Total calculated
    $0
    Hours/week
    1

  • Al Hamdan

    PRESIDENT (END 12/24)

    Total calculated
    $0
    Hours/week
    1

  • Linda Mellowes

    DIRECTOR (END 12/24)

    Total calculated
    $0
    Hours/week
    1

  • Blaine Rieke

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Cecelia Gore

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Thomas Florsheim

    DIRECTOR (START 12/24)

    Total calculated
    $0
    Hours/week
    1

  • Jennifer L Slater

    PRESIDENT (START 4/24)

    Total calculated
    $0
    Hours/week
    1

  • Harry Stratton

    VP/TREASURER (START 4/24)

    Total calculated
    $0
    Hours/week
    1

  • Ken Robertson

    ASSISTANT TREASURER (END 8/24)

    Total calculated
    $199,749
    From this org
    $0
    From related orgs
    $176,226
    Other
    $23,523
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $176,226 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $15,606 related
    Nontaxable benefits
    $0 + $7,917 related
    Filer's total
    $0 + $199,749 related

  • Ellen Gilligan

    SECRETARY (END 8/24)

    Total calculated
    $342,082
    From this org
    $0
    From related orgs
    $280,968
    Other
    $61,114
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $280,968 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $46,760 related
    Nontaxable benefits
    $0 + $14,354 related
    Filer's total
    $0 + $342,082 related

  • Gregory Wesley

    ASSISTANT SECRETARY (START 8/24)

    Total calculated
    $223,168
    From this org
    $0
    From related orgs
    $223,168
    Other
    $0
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $223,168 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $223,168 related

  • Yelena Chester

    ASSISTANT TREASURER (START 8/24)

    Total calculated
    $170,324
    From this org
    $0
    From related orgs
    $130,942
    Other
    $39,382
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $130,942 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $11,713 related
    Nontaxable benefits
    $0 + $27,669 related
    Filer's total
    $0 + $170,324 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 2 · Substantiation required before reimbursing expenses

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2024
Filed
7 November 2025
IRS schema version
2024v5.2
Source object
202513159349304941

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