Prospect Hill Foundation Inc
- Assets
- $74.1m
- Revenue
- $2.5m
- Investments
- $72.9m
- Employees
- 0
- Location
- New York, NY
- Founding
- 03/1961
- Data as of
- 06/2023
- EIN
- 13-6075567
Organization Overview
Prospect Hill Foundation Inc is located in New York, NY. The organization was established in 1961. 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. Prospect Hill 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 06/2023, Prospect Hill Foundation Inc generated $2.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (4.6%) each year. All expenses for the organization totaled $4.9m during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Prospect Hill Foundation Inc has awarded 1,675 individual grants totaling $18,357,301. 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 |
|---|---|---|---|
Carrie S Elston President & Director | 5 | $0 | |
Frederick W Beinecke Vice President & Director | 2 | $0 | |
Jesse W Smith Secretary & Director | 2 | $0 | |
Maureen Howley Treasurer | 10 | $0 | |
Benjamin B Beinecke Director | 2 | $0 | |
Elizabeth Beinecke Elston Director | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mclendon Consulting Llc | 6/29/23 | $93,750 |
Antaeus Enterprises | 6/29/23 | $88,700 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $238,405 |
| Interest on Savings | $26,974 |
| Dividends & Interest | $890,832 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $808,585 |
| Capital Gain Net Income | $798,392 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $539,711 |
| Total Revenue | $2,504,507 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $521,742 |
| Pension plans, employee benefits | $100,659 |
| Interest | $21,817 |
| Taxes | $106,915 |
| Depreciation | $0 |
| Occupancy | $60,849 |
| Travel, conferences, and meetings | $35,305 |
| Printing and publications | $5,195 |
| Other expenses | $813,544 |
| Total operating and administrative expenses | $1,796,176 |
| Contributions, gifts, grants paid | $3,122,048 |
| Total expenses and disbursements | $4,918,224 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $909,918 |
| 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 | $72,871,561 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $360,626 |
| Total assets | $74,142,105 |
| 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 | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Prospect Hill Foundation Inc has awarded $3,647,048 in support to 363 organizations.
| Grant Recipient | Amount |
|---|---|
AAPI MONTCLAIR PURPOSE: GENERAL SUPPORT | $55 |
ADIRONDACK EXPLORER PURPOSE: GENERAL SUPPORT | $1,500 |
ADKACTION PURPOSE: HAMILTON COUNTY FOOD CONNECTIONS | $12,500 |
ADKACTION PURPOSE: GENERAL SUPPORT | $7,500 |
ADKACTION PURPOSE: GENERAL SUPPORT | $1,000 |
ADKACTION PURPOSE: GENERAL SUPPORT | $4,305 |