Goldman Sachs Philanthropy Fund
- Assets
- $8.1b
- Revenue
- $3.8b
- Investments
- $10.2m
- Employees
- 0
- Location
- New York, NY
- Founding
- 08/2001
- Data as of
- 12/2019
- EIN
- 31-1774905
Organization Overview
Goldman Sachs Philanthropy Fund is located in New York, NY. The organization was established in 2001. According to its NTEE Classification (T30) the organization is classified as: Public 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.
For the year ending 12/2019, Goldman Sachs Philanthropy Fund generated $3.8b in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 43.3% each year . All expenses for the organization totaled $1.7b during the year ending 12/2019. While expenses have increased by 39.7% per year over the past 5 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 2017, Goldman Sachs Philanthropy Fund has awarded 9,043 individual grants totaling $3,429,015,493. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2019
Describe the Organization's Mission:
Part 3 - Line 1
ENCOURAGE AND PROMOTE PHILANTHROPY AND CHARITABLE GIVING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE GOLDMAN SACHS PHILANTHROPY FUND ("GSPF") ACCOMPLISHES ITS CHARITABLE PURPOSES BY RECEIVING CHARITABLE CONTRIBUTIONS AND MAKING GRANTS EXCLUSIVELY FOR RELIGIOUS, CHARITABLE, SCIENTIFIC, LITERARY, OR EDUCATIONAL PURPOSES, PRIMARILY TO ORGANIZATIONS DESCRIBED IN SECTION 170(B)(1)(A) OF THE INTERNAL REVENUE CODE OF 1986 AS AMENDED (THE "CODE"). THE ORGANIZATION OPERATES AS A "SPONSORING ORGANIZATION" WITHIN THE MEANING OF CODE SECTION 4966 AND MAINTAINS DONOR ADVISED FUNDS. FOR THE YEAR ENDED DECEMBER 31, 2019, THE ORGANIZATION MADE APPROXIMATELY 14,200 GRANTS TOTALING APPROXIMATELY $1,726,842,132 TO CHARITABLE ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Philip Giuca Asst. Treasurer Until 11/5/19 | Officer | 0.5 | $0 |
Jeffrey Strouse Assistant Secretary | Officer | 4 | $0 |
Kenneth Sheinman Asst. Treasurer As Of 9/10/19 | Officer | 2 | $0 |
Benjamin Rader Secretary | Officer | 7 | $0 |
Donald Irons Vice President | Officer | 9 | $0 |
Karey D Dye President | Officer | 10 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Goldman Sachs Co Llc Investment Advisory | 12/30/19 | $1,056,834 |
The Goldman Sachs Trust Company N Inv Advis/trust Svcs | 12/30/19 | $7,647,621 |
Patterson Belknap Webb Tyler Llp Legal Services | 12/30/19 | $501,374 |
Stellar Technology Solutions Llc Software Provider | 12/30/19 | $1,293,113 |
Ayco Company Lp Administrative Svcs | 12/30/19 | $628,261 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,570,160,540 |
| Noncash contributions included in lines 1a–1f | $2,720,396,686 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,570,160,540 |
| Total Program Service Revenue | $0 |
| Investment income | $151,062,062 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $43,671,397 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,764,893,999 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,724,870,572 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $1,971,560 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $514,126 |
| Fees for services: Accounting | $92,355 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,298,189 |
| Fees for services: Other | $650,525 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $1,134,000 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $150,000 |
| All other expenses | $0 |
| Total functional expenses | $1,738,654,528 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $10,750,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $80,364,000 |
| 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 | $7,985,574,119 |
| Investments—other securities | $10,208,881 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,086,897,000 |
| Accounts payable and accrued expenses | $32,810,000 |
| Grants payable | $0 |
| 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 | $0 |
| Total liabilities | $32,810,000 |
| Net assets without donor restrictions | $8,054,087,000 |
| Net assets with donor restrictions | $0 |
| 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 | $8,086,897,000 |
Grants Awarded
Over the last fiscal year, Goldman Sachs Philanthropy Fund has awarded $1,717,691,723 in support to 3,546 organizations.
| Grant Recipient | Amount |
|---|---|
Boston, MA PURPOSE: COMMUNITY & HUMAN SERVICES | $465,389,440 |
CHURCH OF JESUS CHRIST OF LATTER-DAY SAINTS PURPOSE: RELIGIOUS | $154,207,454 |
Oakland, CA PURPOSE: EDUCATION | $68,134,049 |
San Francisco, CA PURPOSE: COMMUNITY & HUMAN SERVICES | $58,577,463 |
Mountain View, CA PURPOSE: COMMUNITY & HUMAN SERVICES | $35,045,750 |
New York, NY PURPOSE: COMMUNITY & HUMAN SERVICES | $26,405,000 |
Grants Recieved
Over the last fiscal year, we have identified 16 grants that Goldman Sachs Philanthropy Fund has recieved totaling $4,036,201.
| Awarding Organization | Amount |
|---|---|
Mirowsky Family Foundation Inc Chestnut Hill, MA PURPOSE: GENERAL | $819,000 |
Mark And Mary Ann Kaufman Foundation Chicago, IL PURPOSE: GENERAL PURPOSES | $750,000 |
Mark And Mary Ann Kaufman Foundation Chicago, IL PURPOSE: GENERAL PURPOSES | $750,000 |
Nevada Community Foundation Inc Las Vegas, NV PURPOSE: CHARITABLE | $269,361 |
Lasalle Adams Fund New York, NY PURPOSE: GENERAL | $191,898 |
Lasalle Adams Fund New York, NY PURPOSE: GENERAL | $191,898 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pew Charitable Trusts Philadelphia, PA | $1,299,222,104 | $346,765,756 |
Ayco Charitable Foundation Cohoes, NY | $777,230,000 | $265,174,809 |
Goldman Sachs Charitable Gift Fund New York, NY | $559,798,465 | $263,656,612 |
Mother Cabrini Health Foundation New York, NY | $4,123,252,561 | $547,285,904 |
Kars 4 Kids Inc Lakewood, NJ | $41,137,306 | $95,691,338 |
Bny Mellon Charitable Gift Fund Boston, MA | $219,249,459 | $114,515,572 |
Donors Fund Inc Lakewood, NJ | $5,620,390 | $27,000,911 |
Roswell Park Alliance Foundation Buffalo, NY | $105,267,194 | $26,518,336 |
Boston Charitable Trust Fund Boston, MA | $13,199,861 | $31,296,432 |
Greater Hartford Community Foundation Inc Hartford, CT | $6,782,249 | $19,831,812 |
Harlem Rbi Incorporated New York, NY | $85,587,058 | $22,268,250 |
Freedom Fund Brooklyn, NY | $9,289,800 | $16,398,424 |