Altec/Styslinger Foundation

The Altec/Styslinger Foundation is the corporate foundation of Altec Industries, a company based in Birmingham, Alabama that manufactures products for the utility, telecommunications, and tree-care industries.

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At-A-Glance

Type: Non-profit, 501(c)(3), Private Foundation
Founded:

1998

CEO:

Lee J. Styslinger III

Location: Birmingham, AL View on map
Tax ID: 72-1372302
Most Recent Filing: 2024
Budget (2024): Assets: $187,833,230 Revenue: $13,658,583 Expenses: $10,458,628

Contents

    The bulk of the foundation’s giving is towards supporting universities and other projects in Alabama. In addition, the foundation largely gives towards causes such as religious ministries, educational charities, medical research and treatment charities, and youth services organizations. The only advocacy group to receive a foundation grant in 2019 was the center-left Brookings Institution. 1

    In 2019, the Altec/Styslinger Foundation’s largest single grant went to the University of Alabama-Birmingham. The university received a grant of $1 million, which is nearly one-quarter of the total grants that the foundation made that year. 1

    Overview

    The Altec/Styslinger Foundation is a Birmingham, Alabama-based private grantmaking foundation. It is the corporate foundation of Altec Industries, a heavy equipment manufacturing company that manufactures products for the utility, telecommunications, tree-care, and other industries. 1

    The bulk of the foundation’s giving is toward universities and other educational institutions. However, the foundation also donates towards other causes such as medical research, health care-related charities, youth organizations, religious ministries, and museums. 1

    In 2015, the foundation was a major donor to the Birmingham Zoo’s “Renew the Zoo” campaign, which includes the construction of a new front entrance and Asian Passage exhibit. The foundation gave a “leadership gift” to help the zoo raise $3 million from other foundations and businesses. 2

    Also in 2015, the foundation donated $150,000 to the Mountain Brook City Schools Foundation. The money was used to help bridge the gap between the school system’s needs and local and state funding. 3

    In 2018, the foundation made what was described as a “seven figure” gift to the Aspen Education Foundation. The donation was used to help Aspen High School students attend college through The Aspen Promise, which provides financial aid to students. 4

    In 2020, the foundation made a $1 million donation to Birmingham Promise, which provides higher education tuition assistance to Birmingham students. The foundation made the donation to support workforce development in the city. 5

    In 2020, the University of Alabama-Birmingham (UAB) broke ground on the Altec Slyslinger Genomic Medicine and Data Sciences Facility, supported by a generous grant from the foundation. 6

    In 2021, the foundation funded an endowed chair at UAB’s School of Medicine. 7

    Leadership

    Lee J. Styslinger, Jr. is the chairman of the foundation. He is the former CEO of Altec Industries. 1

    Lee J. Styslinger, III is the president and CEO of the foundation. He succeeded Styslinger Jr. as the CEO of Altec Industries; Allen W. Ritchie was elected to succeed Styslinger III in October 2021. 1 8

    Finances

    In 2019, the foundation had $12,386,732 in total revenue and $4,289,734 in expenses. It had assets of $109,643,557. 1

    The foundation generally gives to causes such as education, health care, youth organizations, and museums. However, it did award a $125,000 grant to the center-left Brookings Institution. 1

    Its largest single contribution in 2019 was $1 million to UAB. 1

    Financial Statistics

    Total Assets

    Total Revenue

    Total Expenses

    YearTotal AssetsTotal RevenueTotal ExpensesFiling
    2024 $187,833,230 $13,658,583 $10,458,628 View
    2023 $170,731,380 $13,581,203 $9,011,096 View
    2022 $146,233,034 $14,641,648 $8,277,356 View
    2021 $169,778,290 $25,360,360 $8,726,278 View
    2020 $126,682,151 $30,859,975 $6,965,125 View

    Prior year filings: 2015, 2014, 2013, 2012, 2011

    Expenses Detail

    Employee Compensation

    Highest Earning Employees

    EmployeeTitleTotal Compensation
    Claudia Styslinger DikeouFOUNDATION PROGRAM MANAGER$102,157
    Sarah StyslingerFOUNDATION PROGRAM MANAGER$53,400

    Grant Activity

    All-time grants given statistics from Candid dataset:

    • Total Grant Value: $50,966,364
    • Number of Grants: 1,645
    • Number of Recipients: 706

    Selection of highest value grants given from the last seven years:

    AmountYearFunderSubject
    $2,150,0002023 Rector & Visitors of the University of VirginiaTO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION
    $1,271,0002024 University of Virginia Darden School of BuisnessTO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION
    $1,010,5002024 University of Alabama at Birmingham – Center for Palliative and Supportive CareTO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION
    $1,000,0002024 Dallas Regional Science & Engineering FairTO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION
    $1,000,0002024 St. Bernard Preparatory SchoolTO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION
    $1,000,0002023 Society of Women EngineersTO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION
    $1,000,0002023 University of Alabama at BirminghamTO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION
    $1,000,0002022 Southern Methodist UniversityTO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION
    $1,000,0002021 University of Alabama at BirminghamTO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION
    $1,000,0002020 University of Alabama at BirminghamTO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION
    $645,0002024 Prosper BirminghamTO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION
    $500,0002023 Prosper BirminghamTO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION
    $500,0002023 St. Bernard Preparatory SchoolTO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION
    $500,0002022 Prosper BirminghamTO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION
    $500,0002022 St. Bernard Preparatory SchoolTO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION
    $500,0002021 Community Partnership of Alabama IncTO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION
    $500,0002020 Community Partnership of Alabama IncTO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION
    $350,0002021 Harvard Business SchoolTO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION
    $349,5002024 United Way of Central Alabama, Inc.TO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION
    $300,0002024 Aspen Valley Hospital FoundationTO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION
    $300,0002020 Harvard Business School Student Association IncTO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION
    $252,5002022 YMCA of Greater BirminghamTO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION
    $250,0002024 Brookings InstitutionTO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION
    $250,0002024 Second Harvest Community Food BankTO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION
    $250,0002023 Missouri Western State University Foundation IncTO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION

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    Financials, employee compensation, and grant information provided by Candid.

    Mentioned in this Article

    References

    1. Altec Styslinger Foundation. Return of a Private Foundation (Form 990-PF). 2019. https://projects.propublica.org/nonprofits/organizations/721372302/202033219349101678/full.
    2. “Birmingham Zoo Campaign Chair Announces 85% Of $18 Million Goal Raised.” Birmingham Zoo. Accessed May 16, 2022. https://www.birminghamzoo.com/2016/01/14/birmingham-zoo-campaign-chair-announces-85-of-18-million-goal-raised/.
    3. “Schools Foundation Receives Donation Commitment.” Village Living. July 7, 2015 https://www.villagelivingonline.com/news/schools-foundation-receives-donation-commitment-0707/.
    4. [1] “Aspen Education Foundation Lands Seven-Figure Donation.” Aspen Times. July 9, 2018. https://www.aspentimes.com/news/aspen-education-foundation-lands-seven-figure-donation/.
    5. “Three Corporate Entities Commit $1 Million Each To The Birmingham Promise.” Birmingham, Alabama Government. Feb. 25, 2020. https://www.birminghamal.gov/2020/02/25/three-corporate-entities-commit-1-million-each-to-the-birmingham-promise/.
    6. Cunningham, Beth. 2020. “$75 Million Development Could Make UAB A Global Leader In Biotech Field.” Bham Now. Dec.13, 2020 https://bhamnow.com/2020/06/24/75-million-development-could-make-uab-a-global-leader-in-biotech-field/.
    7. Estes, Cary. “Honoring A Life Of Care: Altec-Styslinger Foundation Helps UAB Establish New Endowed Chair.” UAB Medicine Magazine. Accessed May 16, 2022. https://www.uab.edu/medicine/magazine/spring-2021/honoring-a-life-of-care-altec-styslinger-foundation-helps-uab-establish-new-endowed-chair.
    8. ”Altec Announces Senior Leadership Succession Plan. Altec Inc, October 7, 2021. https://www.altec.com/altec-announces-senior-leadership-succession-plan/.