Jack Munushian Charitable Trust
- Assets
- $7.2m
- Revenue
- $847.6k
- Investments
- $5.2m
- Employees
- 0
- Location
- Los Angeles, CA
- Founding
- 10/2006
- Data as of
- 12/2021
- EIN
- 20-6601987
Organization Overview
Jack Munushian Charitable Trust is located in Los Angeles, CA. The organization was established in 2006. 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. Jack Munushian Charitable Trust 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, Jack Munushian Charitable Trust generated $847.6k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 12.3% each year . All expenses for the organization totaled $877.9k during the year ending 12/2021. While expenses have increased by 7.7% per year over the past 6 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, Jack Munushian Charitable Trust has awarded 15 individual grants totaling $3,627,500. 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
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A - CHARITABLE ACTIVITIES ARE LIMITED TO GRANT MAKING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gary R Phillips Co-Trustee | 3 | $76,041 | |
Zouhrab Bassmajian Co-Trustee | 1 | $32,589 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $55 |
| Dividends & Interest | $136,442 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $359,882 |
| Capital Gain Net Income | $359,882 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $351,203 |
| Total Revenue | $847,582 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $108,630 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $7,962 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $2,863 |
| Total operating and administrative expenses | $127,918 |
| Contributions, gifts, grants paid | $750,000 |
| Total expenses and disbursements | $877,918 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $21,172 |
| Savings and temporary cash investments | $718,917 |
| 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 | $1,240,000 |
| Investments—mortgage loans | $0 |
| Investments—other | $2,428,418 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $4,300 |
| Total assets | $7,221,504 |
| 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 | $1,800,530 |
| Total liabilities | $1,800,530 |
Grants Awarded
Over the last fiscal year, Jack Munushian Charitable Trust has awarded $750,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
New York, NY PURPOSE: TO SUPPORT GENERAL EDUCATION AND ARMENIAN PROGRAMS | $500,000 |
Oakland, CA PURPOSE: TO SUPPORT GENERAL OPERATIONS, SCHOLARSHIPS FOR VETERANS AND WOMEN IN TECH | $250,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Dr Miriam And Sheldon G Adelson Las Vegas, NV | $37,664,470 | $5,516,038 |
Shimon Ben Joseph Foundation San Francisco, CA | $1,592,283,787 | $39,921,005 |
Alfred C Munger Foundation Los Angeles, CA | $17,737,694 | $91,163,030 |
Hellman Foundation San Francisco, CA | $693,471,633 | $133,789,010 |
The Eric And Wendy Schmidt Fund For Strategic Innovation Palo Alto, CA | $1,715,568,763 | $412,161,407 |
Omidyar Network Fund Inc Redwood City, CA | $490,038,780 | $21,031,743 |
Sobrato Family Foundation Mountain View, CA | $811,956,453 | $266,068,436 |
Moore Family Foundation Incline Village, NV | $173,909 | $5,659,701 |
Benificus Foundation San Carlos, CA | $13,481,294 | $1,960,393 |
H&h Evergreen Foundation Menlo Park, CA | $393,647,714 | $39,435,652 |
The Energy Foundation San Francisco, CA | $108,278,429 | $83,158,939 |
Stupski Foundation San Francisco, CA | $0 | $134,835,311 |