Furtherance Fund Inc
- Assets
- $4.8m
- Revenue
- $799.0k
- Investments
- $3.0m
- Employees
- 0
- Location
- New York, NY
- Founding
- 03/1966
- Data as of
- 03/2023
- EIN
- 13-6195082
Organization Overview
Furtherance Fund Inc is located in New York, NY. The organization was established in 1966. 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. Furtherance Fund 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 03/2023, Furtherance Fund Inc generated $799.0k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.7% each year . All expenses for the organization totaled $11.5m during the year ending 03/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Furtherance Fund Inc has awarded 107 individual grants totaling $4,058,000. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert M Olmsted Pres./ Treas. | 1 | $0 | |
Andrew L Tansey Secretary | 0.5 | $0 | |
Katharine H Olmsted Member | 0.5 | $0 | |
Alexandra M Olmsted Member | 0.5 | $0 | |
James F Kelly Vice President | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $158,125 |
| Interest on Savings | $57,623 |
| Dividends & Interest | $394,500 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $188,740 |
| Capital Gain Net Income | $188,740 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $798,988 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $2,597 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $15,333 |
| Total operating and administrative expenses | $31,260 |
| Contributions, gifts, grants paid | $11,466,697 |
| Total expenses and disbursements | $11,497,957 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,867,563 |
| 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 | $160,829 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $4,823,522 |
| 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, Furtherance Fund Inc has awarded $625,000 in support to 16 organizations.
| Grant Recipient | Amount |
|---|---|
ADIRONDACK LAND TRUST INC PURPOSE: LAND PRESERVATION | $25,000 |
ALLIANCE FOR CLIMATE EDUCATION PURPOSE: GENERAL SUPPORT | $50,000 |
BRING CHANGE TO MIND PURPOSE: GENERAL SUPPORT | $5,000 |
CHILDREN'S HOSPITAL OF BOSTON FOUNDATION PURPOSE: MEDICAL | $20,000 |
BEACON ACADEMY PURPOSE: EDUCATIONAL | $20,000 |
CONCORD ACADEMY PURPOSE: EDUCATIONAL | $75,000 |