The Dietrich Foundation
Legal name: Dietrich Foundation
Nonprofit profile at a glance
- EIN
- 364711746
- IRS 990 coverage
- 2013–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024, Form 990-EZ 2012, Form 990-T 2024
- Location
- Pittsburgh, Pennsylvania, USA
- Phone
- 412-261-2766
- Rating
- 79
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Private Grantmaking Foundations
Reported finances
- Revenue
- $107,295,535
- Expenses
- $56,375,570
- Assets
- $1,469,174,246
- Liabilities
- $7,875,294
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
14 people listed
Executive titles in this filing
- NANCY A WATSON (VICE PRESIDENT OF FINANCE)
Highest reported compensation
- EDWARD J GREFENSTETTE (COMMUNITY TRUSTEE, PRESIDE): $3,594,546 total reported compensation
- FARNAM JAHANIAN (EDUCATIONAL TRUSTEE): $2,955,276 total reported compensation
- RYAN L VACCARO (MANAGING DIRECTOR): $1,473,561 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The Dietrich Foundation supports select institutions of higher education and certain cultural and civic organizations in perpetuity, primarily in Western Pennsylvania.
What it reported doing in 2024
Per the declaration of trust dated august 23, 2011 of william s. Dietrich ii revocable trust and the dietrich foundation (the "trust"), the foundation distributes annually, or more frequently, an amount from net income equal to substantially all (at least 85%) of its annual net income (as defined in the trust). In the event that the total amount distributed annually under this requirement should consistently fall below a rate of 3%, the annual distribution amount will approximate 3% of the fair value of the foundation's assets (net of acquisition indebtedness) as determined on january 1 of each year. In may 2024, the foundation made its annual distribution to its supported organizations equal to 3.0% of net assets as calculated at january 1, 2023.
Operating model
- Revenue model
- Investment-supported. 100% of the money available for current operations came from recurring investment income.
- Distribution model
- Grant intermediary. The nonprofit sent 92% of its reported program spending out as grants.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and a relatively small share of voting board members are independent.
Rating breakdown
- Financial Efficiency: 85
- Transparency & Controls: 75
- Accountability: 74
- Sustainability: 85
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 87.5%; rating input score 88
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
- Pay-setting controls: 5 of 6 controls in place; rating input score 83
- Compensation committee: Pass
- Independent consultant: Pass
- Other Form 990s reviewed: Pass
- Written employment contract: Missing
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Scored; rating input score 0
- Grant itemization coverage: 100%; rating input score 100; 77th percentile among comparable filings
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 55.6%; rating input score 56; 15th percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 47.5%; rating input score 96; 96th percentile among comparable filings
- Total-asset coverage ratio: 26.06; rating input score 98; 98th percentile among comparable filings
- Liabilities to assets ratio: 0.01; rating input score 96; 96th percentile among comparable filings
- Officer compensation ratio: 15.8%; rating input score 1; 1st percentile among comparable filings
Growth
- Program expense growth: 10.8% per year; rating input score 100; 77th percentile among comparable filings
- Revenue growth: -12.7% per year; rating input score 0; 0th percentile among comparable filings
- Asset growth: 10.8% per year; rating input score 100; 74th percentile among comparable filings
Details
- What they do: 1 programs and campaigns described on the official site · 1 operating location identified
- Where the money goes: 100% of revenue deployed · 87.5% of spending went to programs
- Governance: 5 of 9 board members independent · 9 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $49.3M in reported program spending
- Leadership: top reported pay $3.6M · 14 people listed · 5 of 6 pay-setting controls reported
- Highest-paid contractors: 1 contractor listed · $412K reported
- Consistency: 36 of 36 current checks pass
- Schedules: 7 filed schedules · includes foreign activity, grants, and executive pay
- Filing history: 12 filing years from 2013 to 2024
- Contacts: How to reach this organization
- Money network: 27 filed money-flow records
- Related organizations: 26 filed related-organization links
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Transparency & Controls: Foreign activity oversight scored 0/100.
- Review — Accountability: Independent voting board scored 56/100.
- High — Growth: Revenue growth scored 0/100.
- High — Sustainability: Officer compensation ratio scored 1/100.