Gerstner Family Foundation
- Assets
- $157.4m
- Revenue
- $6.4m
- Investments
- $150.1m
- Employees
- 0
- Location
- Armonk, NY
- Founding
- 06/2007
- Data as of
- 12/2022
- EIN
- 20-8559135
Organization Overview
Gerstner Family Foundation is located in Armonk, 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. Gerstner Family 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 12/2022, Gerstner Family Foundation generated $6.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (16.2%) each year. All expenses for the organization totaled $11.0m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Gerstner Family Foundation has awarded 233 individual grants totaling $45,569,013. 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 |
|---|---|---|---|
Louis V Gerstner Jr Trustee, Chairperson | 8 | $0 | |
Dr Elizabeth R Gerstner Trustee, VP Of Programs | 8 | $80,000 | |
Bessemer Trust Company Of Florida Trustee | 1 | $0 | |
Kara V Klein Trustee, Executive Director | 25 | $390,000 | |
Alice Goh Program Director | 40 | $178,115 | |
Molly C Gelinas Program Officer | 40 | $102,500 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Blackstone Real Estate Advisors Lp | 12/30/22 | $181,775 |
Pbr Executive Search | 12/30/22 | $76,625 |
The Carlyle Group Inc | 12/30/22 | $85,044 |
Goldman Sachs & Co Llc | 12/30/22 | $71,192 |
Pkf O'connor Davies Llp | 12/30/22 | $59,185 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $676 |
| Interest on Savings | $20,118 |
| Dividends & Interest | $3,303,573 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,543,011 |
| Capital Gain Net Income | $1,028,025 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,551,437 |
| Total Revenue | $6,418,815 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $470,000 |
| Other employee salaries and wages | $317,884 |
| Pension plans, employee benefits | $100,315 |
| Interest | $332,691 |
| Taxes | $261,150 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $5,793 |
| Printing and publications | $0 |
| Other expenses | $2,242,894 |
| Total operating and administrative expenses | $4,281,240 |
| Contributions, gifts, grants paid | $6,732,000 |
| Total expenses and disbursements | $11,013,240 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,389,655 |
| 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 | $114,443,193 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $5,900,349 |
| Total assets | $157,377,016 |
| 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 | $80,540 |
| Total liabilities | $80,540 |
Grants Awarded
Over the last fiscal year, Gerstner Family Foundation has awarded $8,981,139 in support to 39 organizations.
| Grant Recipient | Amount |
|---|---|
ADOPT-A-FAMILY OF THE PALM BEACHES INC PURPOSE: EMERGENCY GRANTS PROGRAM | $250,000 |
AID TO VICTIMS OF DOMESTIC ABUSE INC PURPOSE: EMERGENCY GRANTS PROGRAM | $100,000 |
CATHOLIC CHARITIES OF THE DIOCESE OF PALM BEACH INC PURPOSE: EMERGENCY GRANTS PROGRAM | $20,000 |
COALITION FOR THE HOMELESS INC PURPOSE: EMERGENCY GRANTS PROGRAM | $320,000 |
COLUMBIA UNIVERSITY IN THE CITY OF NEW YORK TRUSTEES OF PURPOSE: BIOMEDICAL RESEARCH | $1,000,000 |
CATHOLIC SCHOOL PHILANTHROPY WORKING GROUP (FISCAL SPONSOR OAK ROSE FUND) PURPOSE: GENERAL SUPPORT | $10,000 |