Warren Alpert Foundation
- Assets
- $406.6m
- Revenue
- $17.1m
- Investments
- $406.1m
- Employees
- 0
- Location
- Providence, RI
- Founding
- 07/2019
- Data as of
- 12/2023
- EIN
- 05-0426623
Organization Overview
Warren Alpert Foundation is located in Providence, RI. The organization was established in 2019. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Warren Alpert Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Warren Alpert Foundation generated $17.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (6.3%) each year. All expenses for the organization totaled $27.5m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Warren Alpert Foundation has awarded 290 individual grants totaling $90,602,502. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
August R Schiesser Exec Director, President, & Treasurer | 30 | $333,741 | |
David Hirsch Chairman Of The Board | 9 | $117,500 | |
Jeffrey A Walker Secretary/audit Chair | 4 | $173,950 | |
Robert H Brown Jr Director/grant Comm Chair | 4 | $115,000 | |
Gregory W Kaneb Director/comp & Gov Chair | 4 | $116,500 | |
Daniel F Schmitt Director/investment Chair | 4 | $116,500 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Morgan Stanley | 12/30/23 | $192,062 |
Kpmg | 12/30/23 | $182,250 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $11,042 |
| Dividends & Interest | $6,513,784 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $11,071,109 |
| Capital Gain Net Income | $12,533,171 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | -$496,453 |
| Total Revenue | $17,099,482 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $1,612,191 |
| Other employee salaries and wages | $128,258 |
| Pension plans, employee benefits | $38,563 |
| Interest | $383,026 |
| Taxes | $1,331,433 |
| Depreciation | $6,863 |
| Occupancy | $95,238 |
| Travel, conferences, and meetings | $28,787 |
| Printing and publications | $312 |
| Other expenses | $294,647 |
| Total operating and administrative expenses | $4,638,327 |
| Contributions, gifts, grants paid | $22,893,636 |
| Total expenses and disbursements | $27,531,963 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $381,960 |
| Savings and temporary cash investments | $143,435 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $98,961,086 |
| Net Land, buildings, and equipment | $41,189 |
| Other assets | $0 |
| Total assets | $406,646,323 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $6,995,655 |
| Other liabilities | $0 |
| Total liabilities | $6,995,655 |
Grants Awarded
Over the last fiscal year, Warren Alpert Foundation has awarded $22,893,636 in support to 76 organizations.
| Grant Recipient | Amount |
|---|---|
DAVID J LIPMAN PURPOSE: PRIZE AWARD | $500,000 |
ELDER SERVICES OF WORCESTER AREA INC PURPOSE: DONATION | $35,000 |
EMORY UNIVERSITY PURPOSE: DONATION - EDUCATION | $50,000 |
FISHER COLLEGE PURPOSE: DONATION - EDUCATION | $10,000 |
FRAMINGHAM STATE COLLEGE PURPOSE: DONATION - EDUCATION | $5,000 |
FOUR HEARTS FOUNDATION PURPOSE: DONATION | $3,000 |