Hess Foundation Inc

Organization Overview

Hess Foundation Inc is located in Parsippany, NJ. The organization was established in 1957. 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. Hess Foundation 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 11/2020, Hess Foundation Inc generated $35.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (10.6%) each year. All expenses for the organization totaled $35.8m during the year ending 11/2020. As we would expect to see with falling revenues, expenses have declined by (4.2%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.

Since 2014, Hess Foundation Inc has awarded 1,212 individual grants totaling $340,755,178. 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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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Hess Group Llc
$323,207
Sullivan & Cromwell
$54,500
Cohnreznick Llp
$117,597
View All Vendors

Financial Statements

Statement of Revenue
Contributions, Gifts, Grants & Similar $21,547,444
Interest on Savings $0
Dividends & Interest $7,880,742
Profit on Inventory Sales $0
Other Income $290,021
Total Revenue $35,298,919

Grants Awarded

Over the last fiscal year, Hess Foundation Inc has awarded $50,369,500 in support to 136 organizations.

Grant RecipientAmount

PHILADELPHIA MUSEUM OF ART

Org PageRecipient Profile

Philadelphia, PA

PURPOSE: IN SUPPORT OF NEW FACILITIES

$20,000,000

LINCOLN CTR FOR THE PERFORMING ARTS

Org PageRecipient Profile

New York, NY

PURPOSE: AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE.

$5,250,000

HARVARD BUSINESS SCHOOL

PURPOSE: AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE.

$5,150,000

TRUSTEES OF THE UNIVERSITY OF PA

Org PageRecipient Profile

Philadelphia, PA

PURPOSE: PICASSO PROJECT

$1,630,000

DEERFIELD ACADEMY

PURPOSE: COVID EMPLOYEE RELIEF FUND

$1,550,000

PHILADELPHIA ORCHESTRA

PURPOSE: AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE.

$1,515,000
View Grant Profile

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