Metlife Foundation
- Assets
- $126.9m
- Revenue
- $38.9m
- Investments
- $88.7m
- Employees
- 0
- Location
- New York, NY
- Founding
- 12/1986
- Data as of
- 12/2022
- EIN
- 13-2878224
Organization Overview
Metlife Foundation is located in New York, NY. The organization was established in 1986. 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. Metlife 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 12/2022, Metlife Foundation generated $38.9m 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 (4.8%) each year. All expenses for the organization totaled $38.4m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (1.9%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
NONE - NOT APPLICABLE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Zarcone Director, Chair | 0.8 | $0 | |
Nuria Garcia Director | 0.4 | $0 | |
Susan Podlogar Director | 0.4 | $0 | |
Kishore Ponnavolu Director | 0.4 | $0 | |
Ramy Tadros Director | 0.4 | $0 | |
Theresa Baker Counsel & Secretary (officer) | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Exponent Partners | 12/30/22 | $73,750 |
Deloitte | 12/30/22 | $117,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $30,976,847 |
| Interest on Savings | $0 |
| Dividends & Interest | $2,264,902 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $5,297,868 |
| Capital Gain Net Income | $1,396,576 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $379,876 |
| Total Revenue | $38,919,493 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $216,976 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,825 |
| Total operating and administrative expenses | $440,807 |
| Contributions, gifts, grants paid | $37,919,846 |
| Total expenses and disbursements | $38,360,653 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $37,938,652 |
| Savings and temporary cash investments | $0 |
| 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 | $16,803,736 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $233,873 |
| Total assets | $126,864,950 |
| Accounts payable and accrued expenses | $3,102 |
| 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 | $2,840 |
| Total liabilities | $5,942 |