Hearst Foundation Inc
- Assets
- $343.8m
- Revenue
- -$10.3m
- Investments
- $334.6m
- Employees
- 0
- Location
- New York, NY
- Founding
- 07/1946
- Data as of
- 12/2022
- EIN
- 13-6161746
Organization Overview
Hearst Foundation Inc is located in New York, NY. The organization was established in 1946. 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. Hearst 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.
Since 2020, Hearst Foundation Inc has awarded 502 individual grants totaling $69,340,000. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Virginia H Randt President Director | 0 | $0 | |
William R Hearst III 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 | 12/30/22 | $185,676 |
Aberdeen Emerging Markets | 12/30/22 | $167,385 |
Crewcial Partners | 12/30/22 | $191,043 |
Siguler Guff Hearst Opportunties Fund | 12/30/22 | $223,029 |
Jpm Global Emerging Markets | 12/30/22 | $157,842 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $2,608,861 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,707,455 |
| Capital Gain Net Income | $494,942 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | -$14,659,510 |
| Total Revenue | -$10,343,194 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $236,136 |
| Other employee salaries and wages | $557,599 |
| Pension plans, employee benefits | $144,970 |
| Interest | $0 |
| Taxes | $65,605 |
| Depreciation | $0 |
| Occupancy | $148,477 |
| Travel, conferences, and meetings | $42,917 |
| Printing and publications | $660 |
| Other expenses | $102,534 |
| Total operating and administrative expenses | $2,814,324 |
| Contributions, gifts, grants paid | $20,200,366 |
| Total expenses and disbursements | $23,014,690 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $7,395,135 |
| Net Accounts receivable | $203,746 |
| 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 | $986,532 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $193,483,120 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $673,919 |
| Total assets | $343,830,760 |
| Accounts payable and accrued expenses | $355,440 |
| Grants payable | $1,969,617 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $1,203,703 |
| Total liabilities | $3,528,760 |
Grants Awarded
Over the last fiscal year, Hearst Foundation Inc has awarded $21,055,000 in support to 155 organizations.
| Grant Recipient | Amount |
|---|---|
ADIRONDACK HISTORICAL ASSOCIATION PURPOSE: SUPPORT OF GENERAL OPERATIONS | $150,000 |
BALLET ARIZONA PURPOSE: SUPPORT OF GENERAL OPERATIONS | $100,000 |
BALTIMORE MUSEUM OF ART PURPOSE: SUPPORT OF GENERAL OPERATIONS | $75,000 |
BAY AREA DISCOVERY MUSEUM PURPOSE: SUPPORT OF GENERAL OPERATIONS | $100,000 |
BROOKLYN MUSEUM PURPOSE: SUPPORT OF GENERAL OPERATIONS | $175,000 |
BROOKLYN YOUTH CHORUS ACADEMY INC PURPOSE: SUPPORT OF GENERAL OPERATIONS | $100,000 |