The Grossman Family Foundation
- Assets
- $140.1m
- Revenue
- $8.0m
- Investments
- $137.5m
- Employees
- 0
- Location
- Cos Cob, CT
- Founding
- 04/2010
- Data as of
- 12/2020
- EIN
- 26-3919092
Organization Overview
The Grossman Family Foundation is located in Cos Cob, CT. The organization was established in 2010. 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. Grossman 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 12/2020, Grossman Family Foundation generated $8.0m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 72.0% each year . All expenses for the organization totaled $7.7m during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ethan Grossman Trustee | 2 | $76,224 | |
Leslie Grossman Trustee | 2.5 | $25,313 | |
Carole Greenberg Trustee | 8.5 | $21,875 | |
Paul Napoli Trustee | 8.5 | $16,875 | |
Judith C Meyers Trustee | 2 | $16,563 | |
Erica S Phillips Trustee | 3.5 | $15,313 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bank Of America Private Bank | 12/30/20 | $105,950 |
Fiduciary Trust Company International | 12/30/20 | $126,220 |
Andrea Berman | 12/30/20 | $53,400 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $52,401 |
| Dividends & Interest | $2,107,354 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $5,691,489 |
| Capital Gain Net Income | $5,691,489 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $121,115 |
| Total Revenue | $7,972,359 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $216,040 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $15,262 |
| Interest | $380 |
| Taxes | $91,883 |
| Depreciation | $77 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $21,348 |
| Printing and publications | $0 |
| Other expenses | $163,740 |
| Total operating and administrative expenses | $871,020 |
| Contributions, gifts, grants paid | $6,788,592 |
| Total expenses and disbursements | $7,659,612 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,573,867 |
| Savings and temporary cash investments | $0 |
| 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 | $26,740,700 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $140,113,231 |
| 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 | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, The Grossman Family Foundation has awarded $7,599,947 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Jenkintown, PA PURPOSE: GENERAL | $4,850,000 |
Jenkintown, PA PURPOSE: GENERAL | $1,902,950 |
Jenkintown, PA PURPOSE: GENERAL | $846,997 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Redhill Foundation-Sam And Jean Rothberg Family Charitable Trust New York, NY | $42,979,654 | $7,387,635 |
Robert W Wilson Charitable Tr New York, NY | $246,803,641 | $15,248,568 |
The Zegar Family Foundation New York, NY | $255,794,688 | $35,430,517 |
The Blackrock Charitable Foundation New York, NY | $304,949,202 | $10,722,340 |
High Meadows Foundation Boston, MA | $7,499,132 | $11,021,494 |
Zankel Fund New York, NY | $8,426,526 | $6,600,017 |
Synchrony Foundation Stamford, CT | $74,474,766 | $12,637,293 |
Gavin Foundation Inc South Boston, MA | $19,688,054 | $21,343,242 |
Jp Fletcher Foundation Inc Cambridge, MA | $29,829,221 | -$3,521,275 |
Estee Lauder Companies Charitable Foundation New York, NY | $35,974,866 | $21,957,506 |
Theodore J Forstmann Charitable Trust New York, NY | $79,816,371 | $674,210 |
The Carol A Ammon Foundation Albany, NY | $10,088,469 | $6,097,174 |