The Tow Foundation Inc
- Assets
- $338.4m
- Revenue
- $8.2m
- Investments
- $302.4m
- Employees
- 0
- Location
- New Canaan, CT
- Founding
- 03/2000
- Data as of
- 12/2022
- EIN
- 06-6484045
Organization Overview
The Tow Foundation Inc is located in New Canaan, CT. The organization was established in 2000. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tow Foundation Inc 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 12/2022, Tow Foundation Inc generated $8.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (9.1%) each year. All expenses for the organization totaled $33.8m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Tow Foundation Inc has awarded 1,393 individual grants totaling $120,161,893. 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 |
|---|---|---|---|
Amy Lefkof Secretary | 3 | $0 | |
Andrew Tow Vice President | 2 | $0 | |
David Tobias Assistant Treasurer | 3 | $0 | |
Emily Tow President | 40 | $307,650 | |
Frank Tow Vice President | 2 | $0 | |
Hope Jackson Director | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Deutsche Bank | 12/30/22 | $232,378 |
Merrill Lynch Trust Co | 12/30/22 | $168,355 |
First Republic | 12/30/22 | $86,303 |
Citibank Fees | 12/30/22 | $396,721 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $8,433,504 |
| Dividends & Interest | $1,824,805 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$3,891,646 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,849,641 |
| Total Revenue | $8,216,304 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $536,007 |
| Other employee salaries and wages | $1,120,550 |
| Pension plans, employee benefits | $275,239 |
| Interest | $104,178 |
| Taxes | $132,700 |
| Depreciation | $25,541 |
| Occupancy | $247,620 |
| Travel, conferences, and meetings | $141,752 |
| Printing and publications | $5,950 |
| Other expenses | $8,953,470 |
| Total operating and administrative expenses | $12,824,345 |
| Contributions, gifts, grants paid | $20,933,995 |
| Total expenses and disbursements | $33,758,340 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $422,283 |
| Savings and temporary cash investments | $8,406,874 |
| 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 | $50,457,368 |
| Net Land, buildings, and equipment | $40,886 |
| Other assets | $27,107,125 |
| Total assets | $338,381,907 |
| 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 | $0 |
| Other liabilities | $80,999 |
| Total liabilities | $80,999 |
Grants Awarded
Over the last fiscal year, The Tow Foundation Inc has awarded $20,933,995 in support to 274 organizations.
| Grant Recipient | Amount |
|---|---|
A LITTLE PIECE OF LIGHT INC PURPOSE: UNRESTRICTED FUNDING | $35,000 |
ACE MV INC PURPOSE: IN MEMORIAM OF JILL ISCOL FOR THE MARTHA'S VINEYARD COMMUNITY COLLEGE CONSORTIUM | $5,000 |
ADIRONDACK FOUNDATION PURPOSE: UNRESTRICTED FUNDING | $3,000 |
ACT OF CONNECTICUT INC PURPOSE: UNRESTRICTED FUNDING | $2,500 |
ACCESSPORTAMERICA INC PURPOSE: UNRESTRICTED FUNDING | $2,000 |
AFRICAN CARIBEAN AMERICAN PARENTS OF CHILDREN WITH DISABILITY INC PURPOSE: UNRESTRICTED FUNDING | $35,000 |