William Randolph Hearst Foundation
- Assets
- $863.5m
- Revenue
- $78.5m
- Investments
- $841.2m
- Employees
- 0
- Location
- New York, NY
- Founding
- 04/1949
- Data as of
- 12/2023
- EIN
- 13-6019226
Organization Overview
William Randolph Hearst Foundation is located in New York, NY. The organization was established in 1949. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. William Randolph Hearst 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, William Randolph Hearst Foundation generated $78.5m in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (1.7%) each year. All expenses for the organization totaled $61.8m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, William Randolph Hearst Foundation has awarded 1,424 individual grants totaling $207,683,389. 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE SENATE YOUTH PROGRAM IS AN ANNUAL $10,000 SCHOLARSHIP COMPETITION SPONSORED JOINTLY BY THE U.S. SENATE AND THE FOUNDATION . AFTER A TESTING AND INTERVIEW PROCESS, TWO HIGH SCHOOL STUDENTS ARE SELECTED FROM EACH STATE, DC, AND THE DEPT OF DEFENSE'S OVERSEAS EDUCATIONAL ACTIVITIES. EACH STUDENT RECEIVES A WEEK LONG TRIP TO DC.
JOURNALISM AWARDS PROGRAM AWARDS SCHOLARSHIPS FOR OUTSTANDING PERFORMANCE IN COLLEGE-LEVEL JOURNALISM. THE PROGRAM CONSISTS OF FIVE MONTHLY WRITING COMPETITIONS, TWO PHOTOJOURNALISM COMPETITIONS, ONE AUDIO COMPETITION, TWO TELEVISION COMPETITIONS AND FOUR MULTIMEDIA COMPETITIONS WITH CHAMPIONSHIP FINALS IN ALL DIVISIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William R Hearst III President Director | 0 | $0 | |
Virginia H Randt Vice President Director | 0 | $0 | |
Frank Bennack Jr Vice President Director | 0 | $0 | |
John G Conomikes Vice President Director | 0 | $0 | |
David J Barrett Vice President Director | 0 | $0 | |
Anissa B Balson Vice President Director | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Champlain Investment Partners | 12/30/23 | $311,761 |
Siguler Guff Hearst Opportunties Fund | 12/30/23 | $494,489 |
Matthews Asia Institutional Funds Llc | 12/30/23 | $313,534 |
Paul Dinovitz | 12/30/23 | $342,710 |
Fuller Thayler | 12/30/23 | $276,775 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $7,043,360 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $25,181,023 |
| Capital Gain Net Income | $37,379,202 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $46,307,854 |
| Total Revenue | $78,532,237 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $444,569 |
| Other employee salaries and wages | $1,996,719 |
| Pension plans, employee benefits | $353,732 |
| Interest | $0 |
| Taxes | $3,414,964 |
| Depreciation | $0 |
| Occupancy | $323,479 |
| Travel, conferences, and meetings | $1,243,046 |
| Printing and publications | $145,405 |
| Other expenses | $757,707 |
| Total operating and administrative expenses | $11,025,550 |
| Contributions, gifts, grants paid | $50,748,729 |
| Total expenses and disbursements | $61,774,279 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $18,751,972 |
| Net Accounts receivable | $910,835 |
| 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 | $1,783,114 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $581,185,692 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $849,805 |
| Total assets | $863,516,672 |
| Accounts payable and accrued expenses | $717,034 |
| Grants payable | $16,736,124 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $4,952,880 |
| Total liabilities | $22,406,038 |
Grants Awarded
Over the last fiscal year, William Randolph Hearst Foundation has awarded $53,481,583 in support to 287 organizations.
| Grant Recipient | Amount |
|---|---|
ALABAMA SYMPHONIC ASSOCIATION PURPOSE: SUPPORT OPERATIONS | $125,000 |
AMERICAN CIVIL WAR MUSEUM PURPOSE: SUPPORT OPERATIONS | $150,000 |
ARTIS-NAPLES PURPOSE: SUPPORT OPERATIONS | $100,000 |
ASIAN ART MUSEUM PURPOSE: SUPPORT OPERATIONS | $200,000 |
AMERICAN THEATRE WING PURPOSE: SUPPORT OPERATIONS | $100,000 |
BRONX MUSEUM OF THE ARTS PURPOSE: SUPPORT OPERATIONS | $125,000 |