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CUTCO FOUNDATION INC
OLEAN, NY · EIN 161491450 · Form 990PF · FY2025 · NTEE T20J · Philanthropy & Grantmaking · Medium ($1M-$10M)
revenue
$1.0M
expenses
$28K
net assets
$10.7M
employees
—
profile · synthesized from sources

CUTCO FOUNDATION INC is a private foundation based in Olean, NY, focused on philanthropy and grantmaking. It provides financial support to educational institutions, healthcare organizations, and community foundations, primarily in New York State. The foundation makes annual gifts and multi-year pledges to a mix of local and national nonprofit organizations.

named programs · 3 · from sources

What they call their work

Community Foundation Giving
Provides annual gifts to regional community foundations including Cattaraugus Region Community Foundation and United Way of Cattaraugus & Allegany Counties
Community Health Grants
Supports local healthcare systems such as Olean General Hospital Foundation and Southern Tier Health Care Systems
Education Support Grants
Provides funding to colleges and universities including St. Bonaventure University, Jamestown Community College, University of Dayton, and Purdue University
activities · 6 groups

What they do

  • Community Foundation & United Way Support 2 activities
    • Funding Cattaraugus Region Community Foundation
      Provides annual gift grants to the Cattaraugus Region Community Foundation to support local community initiatives and charitable activities.
    • Funding United Way of Cattaraugus & Allegany Counties
      Provides annual gift grants to United Way of Cattaraugus & Allegany Counties to support regional human services and nonprofit programs.
  • Hospital and Medical Center Support 2 activities
    • Funding Olean General Hospital Foundation
      Provides annual gift grants to the Olean General Hospital Foundation to support healthcare services in the region.
    • Funding Southern Tier Health Care Systems
      Provides annual gift grants to Southern Tier Health Care Systems to support healthcare delivery in the region.
  • Charitable Grantmaking to Specific Causes 1 activity
    • Funding American Red Cross
      Provides annual gift grants to the American Red Cross to support disaster relief and emergency services.
  • Fundraising and Financial Support for IDD Services 1 activity
    • Funding CA-DIDI
      Provides annual gift grants to CA-DIDI, a community organization serving individuals with intellectual and developmental disabilities.
  • Local High School Scholarship Programs 1 activity
    • Funding Jamestown Community College Foundation
      Provides annual gift grants to the Jamestown Community College Foundation to support community college education and related programs.
  • University-Specific Endowment and Program Funding 1 activity
    • Funding St. Bonaventure University
      Provides annual gift grants and pledged funding to St. Bonaventure University to support its operations and programs.
financials · form 990PF · fy2025
revenue
Total revenue$1.04M
Contributions & grants——
Program service revenue——
Investment income$287K27%
Other revenue$736K
expenses
Total expenses$28K
Program expenses—
Admin / overhead—
Fundraising—
Salaries & benefits$0
Grants paid out$798K
balance sheet
Total assets$10.72M
Cash—
Investments—
Liabilities—
Net assets$10.72M
6 years on record · 2020–2025 · YoY revenue +27.8%
leadership · form 990 part vii · fy2025

Who runs it

board members · 2
  • CAROL STITT — DIRECTOR
  • JOHN STITT — DIRECTOR
relationships · 11

Who they work with

  • AMERICAN RED CROSS Partner — Receives annual gift grants from CUTCO FOUNDATION INC.
  • CA-DIDI Partner — Receives annual gift grants from CUTCO FOUNDATION INC.
  • CATTARAUGUS REGION COMMUNITY FOUNDATION Partner — Receives annual gift grants from CUTCO FOUNDATION INC.
  • JAMESTOWN COMMUNITY COLLEGE FOUNDATION Partner — Receives annual gift grants from CUTCO FOUNDATION INC.
  • OLEAN GENERAL HOSPITAL FOUNDATION Partner — Receives annual gift grants from CUTCO FOUNDATION INC.
  • PURDUE UNIVERSITY Partner — Receives pledged grants from CUTCO FOUNDATION INC.
  • SOUTHERN TIER HEALTH CARE SYSTEMS Partner — Receives annual gift grants from CUTCO FOUNDATION INC.
  • ST BONAVENTURE UNIVERSITY Partner — Receives pledged and annual gift grants from CUTCO FOUNDATION INC.
  • UNITED WAY OF CATTARAUGUS & ALLEGANY COUNTIES Partner — Receives annual gift grants from CUTCO FOUNDATION INC.
  • UNIVERSITY OF DAYTON Partner — Receives pledged grants from CUTCO FOUNDATION INC.
  • YMCA OF THE TWIN TIERS Partner — Receives pledged grants from CUTCO FOUNDATION INC.