The Bessemer Giving Fund
- Assets
- $757.9m
- Revenue
- $291.6m
- Investments
- $53.4m
- Employees
- 0
- Location
- Woodbridge, NJ
- Founding
- 05/1998
- Data as of
- 12/2021
- EIN
- 13-7111099
Organization Overview
The Bessemer Giving Fund is located in Woodbridge, NJ. The organization was established in 1998. 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. Bessemer Giving Fund 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, Bessemer Giving Fund generated $291.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 35.6% each year . All expenses for the organization totaled $126.2m during the year ending 12/2021. While expenses have increased by 32.1% per year over the past 7 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 2014, Bessemer Giving Fund has awarded 5,485 individual grants totaling $403,592,721. 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 Mission:
Part 3 - Line 1
TO RECEIVE CONTRIBUTIONS FROM THE PUBLIC AND MAKE GRANTS TO QUALIFIED RECIPIENT CHARITABLE ORGANIZATIONS.
Describe the Organization's Program Activity:
THE ORGANIZATION RECEIVES CHARITABLE CONTRIBUTIONS AND MAKES GRANTS TO CHARITABLE ORGANIZATIONS AND PROJECTS FOR CHARITABLE PURPOSES IN ACCORDANCE WITH APPLICABLE LAW AND REGULATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Trustee | 15 | $31,591 | |
J Dinsmore Adams Jr Trustee Thru January 2015 | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $248,421,786 |
| Noncash contributions included in lines 1a–1f | $184,830,373 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $248,421,786 |
| Total Program Service Revenue | $0 |
| Investment income | $3,965,980 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $39,210,490 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $291,598,256 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $122,480,478 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $2,833,920 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $10,000 |
| Compensation of current officers, directors, key employees. | $5,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $280,000 |
| Fees for services: Legal | $161,386 |
| Fees for services: Accounting | $26,910 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $380,201 |
| Fees for services: Other | $56,887 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $1,686 |
| Total functional expenses | $126,231,468 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $704,512,914 |
| Investments—other securities | $53,386,644 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $757,899,558 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $757,899,558 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $757,899,558 |
Grants Awarded
Over the last fiscal year, The Bessemer Giving Fund has awarded $119,617,448 in support to 1,214 organizations.
| Grant Recipient | Amount |
|---|---|
New York, NY PURPOSE: GENERAL SUPPORT | $8,225,000 |
Boston, MA PURPOSE: GENERAL SUPPORT | $4,927,835 |
Hudson, OH PURPOSE: GENERAL SUPPORT | $3,252,870 |
New York, NY PURPOSE: GENERAL SUPPORT | $2,460,500 |
Notre Dame, IN PURPOSE: GENERAL SUPPORT | $2,167,750 |
Naples, FL PURPOSE: GENERAL SUPPORT | $2,007,500 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that The Bessemer Giving Fund has recieved totaling $727,568.
| Awarding Organization | Amount |
|---|---|
The Barris Foundation C/O Bessemer Trust Washington, DC PURPOSE: TO SUPPORT SELECTED CHARITIES FOR EDUCATIONAL, SCIENTIFIC AND OTHER CHARITABLE PURPOSES | $500,000 |
The Barris Foundation C/O Bessemer Trust Washington, DC PURPOSE: TO SUPPORT SELECTED CHARITIES FOR EDUCATIONAL, SCIENTIFIC AND OTHER CHARITABLE PURPOSES | $227,568 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Wellspring Philantropic Fund Inc New York, NY | $117,589,910 | $175,211,153 |
Pew Memorial Trust Philadelphia, PA | $3,258,905,531 | $312,519,832 |
The Bessemer Giving Fund Woodbridge, NJ | $757,899,558 | $291,598,256 |
J E Barbey 8 Tenacre Foundation Pittsburgh, PA | $817,905 | $68,136,758 |
S & G Foundation albany, NY | $1,180,089,159 | $294,936,683 |
Starr Foundation New York, NY | $1,351,331,495 | $187,314,215 |
Robertson Foundation New York, NY | $308,129,047 | $104,540,927 |
William Randolph Hearst Foundation New York, NY | $0 | $92,096,829 |
Foundation For A Just Society New York, NY | $0 | $262,120,919 |
Surdna Foundation Inc New York, NY | $0 | $71,392,126 |
Johnson & Johnson Foundation United States Inc New Brunswick, NJ | $130,108,063 | $92,858,448 |
Carson Fam Charitable Tr New York, NY | $302,357,968 | $144,716,166 |