The Tow Foundation Inc
- Assets
- $363.9m
- Revenue
- $215.1m
- Investments
- $314.9m
- Employees
- 0
- Location
- New Canaan, CT
- Founding
- 03/2000
- Data as of
- 12/2021
- 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 12/2021, Tow Foundation Inc generated $215.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 42.9% each year . All expenses for the organization totaled $21.2m during the year ending 12/2021. While expenses have increased by 7.4% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Tow Foundation Inc has awarded 1,119 individual grants totaling $99,227,898. 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 |
|---|---|---|---|
Emily Tow President | 40 | $273,081 | |
Beeta Jahedi Chief Of Staff | 40 | $154,642 | |
Diane Sierpina Dir. Of Justice Init | 40 | $149,794 | |
Eileen C Wiseman Dir. Of Strategic In | 40 | $131,750 | |
Nadia Alia Dir. Of Operations | 40 | $125,905 | |
Susan Ransden Assistant Secretary | 30 | $85,803 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Merrill Lynch Trust Co | 12/30/21 | $161,082 |
Citibank Fees | 12/30/21 | $194,421 |
Joseph Ucuzoglu Crm Dna Llc | 12/30/21 | $82,669 |
First Republic | 12/30/21 | $79,686 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $205,971,951 |
| Interest on Savings | $2,157,329 |
| Dividends & Interest | $1,267,943 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $3,109,178 |
| Capital Gain Net Income | $3,109,178 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $2,625,893 |
| Total Revenue | $215,132,294 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $438,833 |
| Other employee salaries and wages | $904,016 |
| Pension plans, employee benefits | $186,673 |
| Interest | $244,040 |
| Taxes | $55,800 |
| Depreciation | $26,567 |
| Occupancy | $211,202 |
| Travel, conferences, and meetings | $28,509 |
| Printing and publications | $6,813 |
| Other expenses | $2,497,816 |
| Total operating and administrative expenses | $5,176,749 |
| Contributions, gifts, grants paid | $16,024,829 |
| Total expenses and disbursements | $21,201,578 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,076,297 |
| Savings and temporary cash investments | $17,747,391 |
| Net Accounts receivable | $745 |
| 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 | $49,020,322 |
| Net Land, buildings, and equipment | $66,427 |
| Other assets | $27,107,125 |
| Total assets | $363,923,566 |
| 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 | $80,622 |
| Total liabilities | $80,622 |
Grants Awarded
Over the last fiscal year, The Tow Foundation Inc has awarded $16,024,829 in support to 224 organizations.
| Grant Recipient | Amount |
|---|---|
MEMORIAL SLOAN-KETTERING CANCER CENTER PURPOSE: CREATION OF THE CENTER FOR DEVELOPMENTAL ONCOLOGY | $1,500,000 |
New York, NY PURPOSE: RESTRICTED FUNDING - NEW SEQUENCING TECHNOLOGY EQUIPMENT | $1,500,000 |
New York, NY PURPOSE: LEVERAGING GENOMICS TO PREVENT AND REPAIR TISSUE DAMAGE | $1,120,000 |
UNIVERSITY OF MIAMI PURPOSE: RESTRICTED FUNDING - DEFINITION OF TWO BIOLOGICALLY AND CLINICALLY DISTINCT ENTITIES: PROGRESSIVE VERSUS STABLE MULTIPLE MYELOMA (MM) PRECURSOR CONDITIONS - THE TRANSFORMM STUDY | $1,000,000 |
MEMORIAL SLOAN-KETTERING CANCER CENTER PURPOSE: THE TOW FOUNDATION FELLOWSHIP PROGRAM IN MOLECULAR IMAGING AND NANOTECHNOLOGY | $710,000 |
Norwalk, CT PURPOSE: PULMONARY FELLOWSHIP PROGRAM AT NORWALK HOSPITAL | $333,333 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Arnhold Foundation Inc New York, NY | $497,481,101 | $53,665,580 |
The Morningside Foundation Newton Centre, MA | $22,445,720 | $11,895,776 |
The Grace And Mercy Foundation Inc New York, NY | $617,102,449 | $100,220,039 |
The Patrick J Mcgovern Foundation Inc Boston, MA | $1,660,673,846 | $20,910,577 |
One8 Foundation Boston, MA | $488,764,350 | $32,279,319 |
Peter G Peterson Foundation New York, NY | $1,055,700,983 | $50,280,779 |
Leon Levy Foundation New York, NY | $614,122,389 | $121,596,253 |
Shubert Foundation Inc New York, NY | $671,108,588 | $57,657,953 |
Hauser Foundation Inc New York, NY | $0 | $9,971,722 |
Pinkerton Foundation New York, NY | $0 | $34,479,499 |
Jerome L Greene Foundation Inc New York, NY | $761,173,462 | $44,061,271 |
Howard Gilman Foundation Inc New York, NY | $600,733,170 | $27,754,418 |