Princess Grace Foundation
- Assets
- $23.8m
- Revenue
- $2.1m
- Investments
- $3.1m
- Employees
- 7
- Location
- New York, NY
- Founding
- 07/1983
- Data as of
- 12/2022
- EIN
- 23-2218331
Organization Overview
Princess Grace Foundation is located in New York, NY. The organization was established in 1983. According to its NTEE Classification (T90) the organization is classified as: Named Trusts N.E.C., under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2022, Princess Grace Foundation employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Princess Grace 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, Princess Grace Foundation generated $2.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $1.5m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Princess Grace Foundation has awarded 101 individual grants totaling $2,536,202. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
NATIONAL IN SCOPE, THE PRINCESS GRACE FOUNDATION-USA IS DEDICATED TO IDENTIFYING AND ASSISTING EMERGING TALENT IN THEATER, DANCE, AND FILM BY AWARDING GRANTS IN THE FORM OF SCHOLARSHIPS, APPRENTICESHIPS, AND FELLOWSHIPS. THE FOUNDATION'S TRUSTEES SHARE PRINCESS GRACE'S DEDICATION TO SUPPORTING THE ARTS AND THEY BELIEVE, AS SHE DID, THAT CULTIVATION AND TRAINING OF EMERGING TALENT IS ESSENTIAL TO ENSURE SUSTAINED EXCELLENCE IN THE ARTS. EACH YEAR, THE FOUNDATION ANNOUNCES A SELECT GROUP OF PRINCESS GRACE AWARDS FOR DISTINCTION IN THE AREAS OF THEATER, DANCE, AND FILM. STUDENTS ARE ELIGIBLE FOR SCHOLARSHIPS; EMERGING ARTISTS WORKING IN COMPANIES QUALIFY FOR APPRENTICESHIPS AND FELLOWSHIPS. A PLAYWRITING FELLOWSHIP IS AVAILABLE FOR INDIVIDUAL ARTISTS THROUGH A RESIDENCY AT NEW DRAMATISTS IN NEW YORK CITY.
Describe the Organization's Program Activity:
NATIONAL IN SCOPE, THE PRINCESS GRACE FOUNDATION IS DEDICATED TO IDENTIFYING AND ASSISTING EMERGING TALENT IN THEATER, DANCE, AND FILM BY AWARDING GRANTS IN THE FORM OF SCHOLARSHIPS, APPRENTICESHIPS, AND FELLOWSHIPS. THE FOUNDATION'S TRUSTEES SHARE PRINCESS GRACE'S DEDICATION TO SUPPORTING THE ARTS AND THEY BELIEVE, AS SHE DID, THAT CULTIVATION AND TRAINING OF EMERGING TALENT IS ESSENTIAL TO ENSURE SUSTAINED EXCELLENCE IN THE ARTS. EACH YEAR, THE FOUNDATION ANNOUNCES A SELECT GROUP OF PRINCESS GRACE AWARDS FOR DISTINCTION IN THE AREAS OF THEATER, DANCE, AND FILM. STUDENTS ARE ELIGIBLE FOR SCHOLARSHIPS; EMERGING ARTISTS WORKING IN COMPANIES QUALIFY FOR APPRENTICESHIPS AND FELLOWSHIPS. A PLAYWRIGHTING FELLOWSHIP IS AVAILABLE FOR INDIVIDUAL ARTISTS THROUGH A RESIDENCY AT NEW DRAMATISTS IN NEW YORK CITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rod Gancas Director | Trustee | 0.5 | $0 |
Richard Kirshenbaum Director | Trustee | 1 | $0 |
Raymond P Caldiero Director (outgoing) | Trustee | 1 | $0 |
Rachel Hovnanian Director | Trustee | 0.5 | $0 |
Leslie Odom Jr Director | Trustee | 0.5 | $0 |
Norman E Donoghue Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $553,280 |
| Related organizations | $0 |
| Government grants | $85,352 |
| All other contributions, gifts, grants, and similar amounts not included above | $420,572 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,059,204 |
| Total Program Service Revenue | $0 |
| Investment income | $291,517 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $295,000 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $600,203 |
| Net Income from Fundraising Events | -$193,801 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,052,994 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $86,656 |
| Grants and other assistance to domestic individuals. | $404,911 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $97,004 |
| Compensation of current officers, directors, key employees. | $44,163 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $362,248 |
| Pension plan accruals and contributions | $3,819 |
| Other employee benefits | $45,495 |
| Payroll taxes | $54,846 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $34,157 |
| Fees for services: Other | $79,552 |
| Advertising and promotion | $2,819 |
| Office expenses | $38,709 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $92,291 |
| Travel | $127,702 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $460 |
| Insurance | $20,498 |
| All other expenses | $0 |
| Total functional expenses | $1,534,083 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $526 |
| Savings and temporary cash investments | $1,486,429 |
| Pledges and grants receivable | $591,338 |
| Accounts receivable, net | $315,385 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $11,201,956 |
| Investments—other securities | $3,073,273 |
| Investments—program-related | $4,500,000 |
| Intangible assets | $0 |
| Other assets | $2,673,326 |
| Total assets | $23,842,233 |
| Accounts payable and accrued expenses | $265,134 |
| Grants payable | $140,705 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $649,209 |
| Total liabilities | $1,055,048 |
| Net assets without donor restrictions | $21,040,975 |
| Net assets with donor restrictions | $1,746,210 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $23,842,233 |
Grants Awarded
Over the last fiscal year, Princess Grace Foundation has awarded $80,750 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
EDUCATIONAL THEATRE FOUNDATION PURPOSE: TO FUTHER THE ORGANIZATION'S EXEMPT PURPOSE | $18,750 |
BARYSHNIKOV ARTS CENTER PURPOSE: TO FUTHER THE ORGANIZATION'S EXEMPT PURPOSE | $62,000 |