Hearst Foundation Inc
- Assets
- $439.2m
- Revenue
- $42.0m
- Investments
- $427.6m
- Employees
- 0
- Location
- New York, NY
- Founding
- 07/1946
- Data as of
- 12/2021
- 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.
For the year ending 12/2021, Hearst Foundation Inc generated $42.0m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 19.7% each year . All expenses for the organization totaled $18.9m during the year ending 12/2021. While expenses have increased by 2.2% per year over the past 4 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 2020, Hearst Foundation Inc has awarded 347 individual grants totaling $48,285,000. 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
2021
Describe the Organization's Program Activity:
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Dinovitz VP Exec. Dir | 13 | $143,905 | |
Mary Fisher Treasurer | 13 | $57,185 | |
Virginia H Randt President Director | 0 | $0 | |
William R Hearst III Vice President Director | 0 | $0 | |
Frank Bennack Jr 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 | 12/30/21 | $217,468 |
Aberdeen Emerging Markets | 12/30/21 | $216,019 |
Fuller & Thayler | 12/30/21 | $206,275 |
Polen Capital Management | 12/30/21 | $167,970 |
Siguler Guff Hearst Opportunties Fund | 12/30/21 | $185,885 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $2,496,896 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $25,934,073 |
| Capital Gain Net Income | $42,330,907 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $13,610,018 |
| Total Revenue | $42,040,987 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $201,090 |
| Other employee salaries and wages | $605,375 |
| Pension plans, employee benefits | $284,544 |
| Interest | $0 |
| Taxes | $697,201 |
| Depreciation | $0 |
| Occupancy | $126,380 |
| Travel, conferences, and meetings | $12,066 |
| Printing and publications | $603 |
| Other expenses | $99,090 |
| Total operating and administrative expenses | $3,680,590 |
| Contributions, gifts, grants paid | $15,267,552 |
| Total expenses and disbursements | $18,948,142 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $11,220,392 |
| Net Accounts receivable | $238,727 |
| 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 | $146,032 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $218,209,257 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $42,853 |
| Total assets | $439,249,947 |
| Accounts payable and accrued expenses | $769,247 |
| Grants payable | $749,251 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $1,779,549 |
| Total liabilities | $3,298,047 |
Grants Awarded
Over the last fiscal year, Hearst Foundation Inc has awarded $16,210,000 in support to 142 organizations.
| Grant Recipient | Amount |
|---|---|
SAVE THE CHIDREN PURPOSE: OPERATING SUPPORT | $500,000 |
Pittsburgh, PA PURPOSE: OPERATING SUPPORT | $500,000 |
New York, NY PURPOSE: OPERATING SUPPORT | $300,000 |
Charlotte, NC PURPOSE: OPERATING SUPPORT | $300,000 |
NEW YORK PHILHARMONIC PURPOSE: OPERATING SUPPORT | $250,000 |
San Antonio, TX PURPOSE: OPERATING SUPPORT | $250,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Arnhold Foundation Inc New York, NY | $497,481,101 | $53,665,580 |
The Morningside Foundation Newton Centre, MA | $22,445,720 | $11,895,776 |
Prudential Foundation Inc Newark, NJ | $137,651,624 | $53,115,847 |
The Grace And Mercy Foundation Inc New York, NY | $617,102,449 | $100,220,039 |
The Patrick J Mcgovern Foundation Inc Boston, MA | $1,660,673,846 | $20,910,577 |
One8 Foundation Boston, MA | $488,764,350 | $32,279,319 |
Peter G Peterson Foundation New York, NY | $1,055,700,983 | $50,280,779 |
Leon Levy Foundation New York, NY | $614,122,389 | $121,596,253 |
Shubert Foundation Inc New York, NY | $671,108,588 | $57,657,953 |
J Howard Pew Freedom Tr Philadelphia, PA | $675,828,558 | $64,346,772 |
Mccune Foundation Pittsburgh, PA | $180,488,577 | $38,182,239 |
Hauser Foundation Inc New York, NY | $0 | $9,971,722 |