Richard King Mellon Foundation Dtd 01-01-47
- Assets
- $2.6b
- Revenue
- $109.0m
- Investments
- $2.4b
- Employees
- 0
- Location
- Ligonier, PA
- Founding
- 02/1949
- Data as of
- 12/2022
- EIN
- 25-1127705
Organization Overview
Richard King Mellon Foundation Dtd 01-01-47 is located in Ligonier, PA. The organization was established in 1949. 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. Richard King Mellon Foundation Dtd 01-01-47 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, Richard King Mellon Foundation Dtd 01-01-47 generated $109.0m 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 (16.6%) each year. All expenses for the organization totaled $143.1m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Richard King Mellon Foundation Dtd 01-01-47 has awarded 1,579 individual grants totaling $989,711,202. 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 Program Activity:
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard A Mellon Trustee/chairman/ceo | 0.5 | $0 | |
Constance Elizabeth Mellon Kapp Trustee/president | 0.5 | $0 | |
Sam Reiman Trustee/director | 38 | $685,195 | |
Douglas L Sisson Trustee/vp/treasurer | 18 | $564,886 | |
John J Turcik Trustee/controller | 10 | $253,505 | |
Paul A Hannah Trustee(from 7/1/2022)/secretary | 10 | $154,786 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Russell Investments Trust Company | 12/30/22 | $2,017,574 |
Bny Mellon | 12/30/22 | $1,194,619 |
Allen & Gerritsen Inc | 12/30/22 | $815,670 |
Mfs Institutional Advisors | 12/30/22 | $661,988 |
Brandywine Global Investment Management Llc | 12/30/22 | $590,857 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $1,527,980 |
| Dividends & Interest | $49,260,841 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $22,551,403 |
| Capital Gain Net Income | $36,221,194 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $35,699,088 |
| Total Revenue | $109,039,312 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $2,342,713 |
| Other employee salaries and wages | $2,626,889 |
| Pension plans, employee benefits | $1,464,109 |
| Interest | $0 |
| Taxes | $109,930 |
| Depreciation | $0 |
| Occupancy | $592,967 |
| Travel, conferences, and meetings | $157,067 |
| Printing and publications | $104,722 |
| Other expenses | $554,240 |
| Total operating and administrative expenses | $19,331,193 |
| Contributions, gifts, grants paid | $123,761,375 |
| Total expenses and disbursements | $143,092,568 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,332,065 |
| Savings and temporary cash investments | $42,408,250 |
| 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 | $1,043,600,292 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $220,067,493 |
| Total assets | $2,631,270,857 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $210,100,000 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $228,782,570 |
| Total liabilities | $438,882,570 |
Grants Awarded
Over the last fiscal year, Richard King Mellon Foundation Dtd 01-01-47 has awarded $98,523,071 in support to 289 organizations.
| Grant Recipient | Amount |
|---|---|
ALLEGHENY COUNCIL TO IMPROVE OUR NEIGHBORHOODS-HOUSING INCORPORATED PURPOSE: TOWARD CAPACITY BUILDING EFFORTS TO ENSURE IMMEDIATE SUCCESS AND IMPACT FROM THE IMPLEMENTATION OF EMERGING PUBLIC FUNDING STREAMS FOR INFRASTRUCTURE | $470,000 |
ALLEGHENY COUNTY AIRPORT AUTHORITY PURPOSE: TO DEVELOP LANDSCAPED TERRACES, REFLECTING THE UNIQUE APPALACHIAN ECOLOGY AND PROVIDING A GREENSPACE FOR RESPITE FOR PITTSBURGH INTERNATIONAL AIRPORT GUESTS | $2,000,000 |
ALLEGHENY LAND TRUST PURPOSE: TOWARD INITIATIVES TO TEACH PEOPLE OF ALL AGES TO ENGAGE WITH, APPRECIATE, AND PROTECT THE NATURAL WORLD | $50,000 |
ALLEGHENY LAND TRUST PURPOSE: TO EXPAND EFFORTS COLLABORATIVELY TO EMPOWER COMMUNITIES TO GENERATE POSITIVE AND INCLUSIVE OUTCOMES THROUGH CONSERVATION | $50,000 |
ALLEGHENY LAND TRUST PURPOSE: TO IDENTIFY, NEGOTIATE, CONDUCT DUE DILIGENCE, AND COMPLETE ACQUISITIONS/EASEMENTS ON LAND TO CONSERVE GREENSPACE AND PERMANENTLY PRESERVE HABITAT STRATEGICALLY | $75,000 |
ALLEGHENY LAND TRUST PURPOSE: TO STEWARD CONSERVATION AREAS TO RESTORE AND ENHANCE THE LAND FOR MAXIMUM ENVIRONMENTAL AND COMMUNITY BENEFIT | $75,000 |