The Brooklyn Nets & New York Liberty Foundation
- Assets
- $1.0m
- Revenue
- $333.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Brooklyn, NY
- Founding
- 08/2007
- Data as of
- 06/2022
- EIN
- 20-5370246
Organization Overview
The Brooklyn Nets & New York Liberty Foundation is located in Brooklyn, NY. The organization was established in 2007. 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. Brooklyn Nets & New York Liberty Foundation 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 06/2022, Brooklyn Nets & New York Liberty Foundation generated $333.3k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 27.6% each year . All expenses for the organization totaled $788.5k during the year ending 06/2022. While expenses have increased by 34.5% per year over the past 5 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 2015, Brooklyn Nets & New York Liberty Foundation has awarded 88 individual grants totaling $1,647,703. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peter Stern Treasurer | 0 | $0 | |
John Abbamondi President | 0 | $0 | |
Jeffrey Gewirtz Secretary | 1 | $0 | |
Daakeia Clarke Vice President | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $317,523 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $15,825 |
| Total Revenue | $333,348 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $97,153 |
| Total operating and administrative expenses | $220,097 |
| Contributions, gifts, grants paid | $568,400 |
| Total expenses and disbursements | $788,497 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,024,887 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $8,706 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,033,593 |
| Accounts payable and accrued expenses | $28,995 |
| 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 | $28,995 |
Grants Awarded
Over the last fiscal year, The Brooklyn Nets & New York Liberty Foundation has awarded $568,400 in support to 18 organizations.
| Grant Recipient | Amount |
|---|---|
SMITHSONIAN INSTITUTION PURPOSE: DONATION TO SUPPOR THE NMAAHC MISSION | $200,000 |
TRUST FOR PUBLIC LAND PURPOSE: NYC COMMUNITY SCHOOLYARD | $75,000 |
CELLUS FOUNDATION PURPOSE: DONATION TO THEIR BALL STARS YOUTH PROGRAM | $50,000 |
ACADEMY OF MEDICAL & PUBLIC HEALTH SERVICES PURPOSE: DONATION TO THE VICTIMS OF THE SUBWAY SHOOTING | $50,000 |
MAIMONIDES MEDICAL CENTER PURPOSE: DONATION TO SUPPORT THEIR 110TH ANNVIERSARY VIRTUAL GALA. | $25,000 |
HUDSON LINK PURPOSE: DONATION FOR THEIR PROGRAMMING | $25,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that The Brooklyn Nets & New York Liberty Foundation has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Protostar Foundation San Diego, CA PURPOSE: GENERAL | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
S & G Foundation albany, NY | $1,180,089,159 | $294,936,683 |
Steven & Alexandra Cohen Foundation Inc Stamford, CT | $524,605,658 | $98,007,018 |
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 |
Blavatnik Family Foundation 2020 New York, NY | $0 | $14,146 |
Henry Luce Foundation Inc New York, NY | $1,226,277,880 | $84,818,070 |
Paul E Singer Foundation New York, NY | $412,018,579 | $19,273,091 |