The Patrick J Mcgovern Foundation Inc

Organization Overview

The Patrick J Mcgovern Foundation Inc is located in Boston, MA. The organization was established in 1990. 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. Patrick J Mcgovern 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 12/2021, Patrick J Mcgovern Foundation Inc generated $20.9m in total revenue. All expenses for the organization totaled $46.5m during the year ending 12/2021. While expenses have increased by 96.7% 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, Patrick J Mcgovern Foundation Inc has awarded 287 individual grants totaling $305,529,842. 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.

Mission & Program ActivityExcerpts From the 990T Filing

TAX YEAR

2021

Describe the Organization's Program Activity:

NOT APPLICABLE


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Pkf O'connor Davies Llp
$53,321
Dalberg Consulting
$74,754
Global Endowment Management Lp
$3,307,446
Venable Llp
$185,771
View All Vendors

Financial Statements

Statement of Revenue
Contributions, Gifts, Grants & Similar $20,864,884
Interest on Savings $17
Dividends & Interest $149,458
Net Rental Income$0
Net Gain on Sale of Assets -$103,782
Capital Gain Net Income $159,891,503
Net ST Capital Gain $0
Income Modifications $0
Profit on Inventory Sales $0
Other Income $0
Total Revenue $20,910,577

Grants Awarded

Over the last fiscal year, The Patrick J Mcgovern Foundation Inc has awarded $38,443,977 in support to 128 organizations.

Grant RecipientAmount

FIDELITY INVESTMENTS CHARITABLE GIFT FUND

Org PageRecipient Profile

Boston, MA

PURPOSE: TO SUPPORT THE CHARITABLE MISSIONS AND ACTIVITIES OF PUBLIC CHARITIES

$4,500,000

MASSACHUSETTS INSTITUTE OF TECHNOLOGY

Org PageRecipient Profile

Cambridge, MA

PURPOSE: TO PROVIDE EXPENDABLE SUPPORT FOR THE MCGOVERN INSTITUTE FOR BRAIN RESEARCH.

$2,000,000

UNITED NATIONS FOUNDATION

Org PageRecipient Profile

Washington, DC

PURPOSE: TO SUPPORT UN GLOBAL PULSE IN EFFORTS AROUND THE GLOBAL DATA ACCESS INITIATIVE (GDAI).

$2,000,000

NEW VENTURE FUND

PURPOSE: TO SUPPORT PUBLIC INTEREST TECHNOLOGY (PIT) INFRASTRUCTURE FUND TO BUILD PRIVATE AND PUBLIC INFRASTRUCTURE TO DEVELOP AND DEPLOY TECHNOLOGY THAT IS EQUITABLE, ACCOUNTABLE TO THE PUBLIC, AND RESPONSIVE TO SOCIETYS MOST PRESSING PROBLEMS

$1,000,000

THE COLERIDGE INITIATIVE INC

PURPOSE: TO BUILD AND SUSTAIN THE DEMOCRATIZATION OF DATA.

$1,000,000

STANFORD UNIVERSITY

PURPOSE: TO PROVIDE SUPPORT FOR STANFORD INSTITUTE FOR HUMAN-CENTERED ARTIFICIAL INTELLIGENCE'S PRIORITY AREAS.

$750,000
View Grant Profile

Peer Organizations

Organization NameAssets
Zoom Foundation
Greenwich, CT
$176,914,821
Fidelity Foundation
Boston, MA
$803,389,715
Klarman Family Foundation
Boston, MA
$145,872,662
Druckenmiller Foundation
New York, NY
$402,828,458
Rockefeller Brothers Fund Inc
New York, NY
$94,665,303
Adelson Family Foundation
Needham, MA
$49,822,227
Anna Maria And Stephen Kellen Foundation Inc
New York, NY
$57,361,611
The Wallace Foundation
New York, NY
$114,535,478
Stephen A Schwarzman Foundation
New York, NY
$61,557,254
Pepsico Foundation Inc
Purchase, NY
$1,734,936
Foundation Mireille And James Levy Usa
New York, NY
$277,701
The Bat Hanadiv Foundation No 3
New York, NY
$245,079,951

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