New York Life Foundation
- Assets
- $168.4m
- Revenue
- $20.1m
- Investments
- $152.9m
- Employees
- 0
- Location
- New York, NY
- Founding
- 07/1979
- Data as of
- 12/2021
- EIN
- 13-2989476
Organization Overview
New York Life Foundation is located in New York, NY. The organization was established in 1979. 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. New York Life 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 12/2021, New York Life Foundation generated $20.1m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 24.7% each year . All expenses for the organization totaled $36.4m during the year ending 12/2021. While expenses have increased by 8.6% per year over the past 5 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 2018, New York Life Foundation has awarded 4,059 individual grants totaling $184,747,920. 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 |
|---|---|---|---|
Sheila K Davidson Director | 0.5 | $0 | |
Karen A Bain Vice President - Tax | 0.5 | $0 | |
Michael J Burke Corporate VP & COO | 0.5 | $0 | |
Ka Luk Stanley Tai - Until May 2021 Vice President - Investments | 0.5 | $0 | |
Theodore Mathas Chairman | 0.5 | $0 | |
Maria V Collins Vice President | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
New York Life Investors Llc | 12/30/21 | $137,080 |
Mitchell & Titus Llp | 12/30/21 | $71,887 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $8,029,121 |
| Interest on Savings | $0 |
| Dividends & Interest | $4,636,275 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $7,435,167 |
| Capital Gain Net Income | $5,143,629 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $20,100,563 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $137,436 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $103,625 |
| Total operating and administrative expenses | $480,100 |
| Contributions, gifts, grants paid | $35,897,910 |
| Total expenses and disbursements | $36,378,010 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $28,390 |
| Savings and temporary cash investments | $9,634,536 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $204,090 |
| 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 | $37,905,670 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $5,656,009 |
| Total assets | $168,400,034 |
| Accounts payable and accrued expenses | $55,560 |
| Grants payable | $15,022,875 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $426,618 |
| Total liabilities | $15,505,053 |
Grants Awarded
Over the last fiscal year, New York Life Foundation has awarded $40,574,415 in support to 733 organizations.
| Grant Recipient | Amount |
|---|---|
BLACKBAUD GIVING FUNDYOURCAUSE LLC PURPOSE: PUBLIC MULTIPURPOSE | $4,866,980 |
Washington, DC PURPOSE: EDUCATION | $1,450,965 |
New York, NY PURPOSE: AC GENERAL | $1,000,000 |
New York, NY PURPOSE: CCA GENERAL | $1,000,000 |
Denver, CO PURPOSE: HEALTH & HUMAN SERVICES | $941,017 |
Boston, MA PURPOSE: EDUC. GENERAL | $900,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that New York Life Foundation has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Feidler Family Foundation Atlanta, GA PURPOSE: GENERAL SUPPORT | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
William Penn Foundation Philadelphia, PA | $0 | $175,834,650 |
The Heinz Endowments Pittsburgh, PA | $0 | $54,378,087 |
Zoom Foundation Greenwich, CT | $956,305,373 | $176,914,821 |
Fidelity Foundation Boston, MA | $2,530,107,332 | $803,389,715 |
Klarman Family Foundation Boston, MA | $754,784,032 | $145,872,662 |
Druckenmiller Foundation New York, NY | $1,579,806,367 | $402,828,458 |
Rockefeller Brothers Fund Inc New York, NY | $1,654,004,790 | $94,665,303 |
Adelson Family Foundation Needham, MA | $5,626,414 | $49,822,227 |
Anna Maria And Stephen Kellen Foundation Inc New York, NY | $1,287,407,560 | $57,361,611 |
The Wallace Foundation New York, NY | $1,815,949,042 | $114,535,478 |
Oberkotter Foundation Philadelphia, PA | $83,021,123 | $23,009,013 |
Stephen A Schwarzman Foundation New York, NY | $124,156,635 | $61,557,254 |