Novo Foundation
- Assets
- $453.2m
- Revenue
- $236.1m
- Investments
- $4.0m
- Employees
- 0
- Location
- Kingston, NY
- Founding
- 11/1999
- Data as of
- 12/2020
- EIN
- 47-0824753
Organization Overview
Novo Foundation is located in Kingston, NY. The organization was established in 1999. According to its NTEE Classification (T99) the organization is classified as: Philanthropy, Voluntarism & Grantmaking Foundations N.E.C., 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. Novo 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, Novo Foundation generated $236.1m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 8.6% each year. All expenses for the organization totaled $128.1m during the year ending 12/2020. While expenses have increased by 6.0% 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 2014, Novo Foundation has awarded 6,236 individual grants totaling $2,502,374,617. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2020
Describe the Organization's Program Activity:
Part 3 - Line 4a
HUDSON VALLEY FARM HUB:COSTS ASSOCIATED WITH PROFESSIONAL FARMER TRAINING, THE HOSTING AND SUPPORTING OF AGRICULTURAL RESEARCH, THE DEMONSTRATION OF NEW FARM TECHNOLOGIES, AND EDUCATIONAL RESOURCES FOR ADVANCES IN FOOD AND FARMING.
MOVE TO END VIOLENCE:PROGRAM DEVELOPMENT, TRAINING, & CONVENING OF THOUGHT-LEADERS AND COHORT PARTICIPANTS FOR MOVE TO END VIOLENCE, A 10YR INITIATIVE DESIGNED TO STRENGTHEN OUR COLLECTIVE CAPACITY TO END VIOLENCE AGAINST GIRLS & WOMEN IN THE US. WWW.MOVETOENDVIOLENCE.ORG
THE WOMEN'S BUILDING:COSTS RELATED TO WIND-DOWN OF PROJECT MANAGEMENT AND COMMUNITY CONSULTATION FOR THE WOMEN'S BUILDING IN NYC. THE PROJECT WAS DISCONTINUED IN 2020.
GREEN ACRES:PROPERTY TAXES FOR LAND USED BY THE HUDSON VALLEY FARM HUB LLC FOR ITS CHARITABLE PROGRAMS AND ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gary Schwartz Senior Director | 40 | $422,935 | |
Kimberly Mclain Chief Financial Officer | 40 | $400,488 | |
Sangeeta Budhiraja Senior Director | 40 | $394,526 | |
Matthew Tye Senior Director | 40 | $391,665 | |
Victoria Sweet Program Officer | 40 | $248,084 | |
Brooke Pickering-Cole Farm Hub Exec. Dir. | 40 | $239,112 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Dutton Architecture Pllc | 12/30/21 | $266,268 |
Lampland Advisory Group Llc | 12/30/21 | $400,889 |
Davis Write Tremaine Llp | 12/30/21 | $973,033 |
The Tides Foundation | 12/30/21 | $1,536,679 |
The Raben Group Llc | 12/30/21 | $3,040,678 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $154,598,482 |
| Interest on Savings | $54,023 |
| Dividends & Interest | $1,659,606 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $79,813,241 |
| Capital Gain Net Income | $262,918,649 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $236,125,352 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $911,595 |
| Other employee salaries and wages | $6,742,167 |
| Pension plans, employee benefits | $2,402,918 |
| Interest | $0 |
| Taxes | $3,769,089 |
| Depreciation | $315,385 |
| Occupancy | $501,762 |
| Travel, conferences, and meetings | $294,346 |
| Printing and publications | $0 |
| Other expenses | $807,406 |
| Total operating and administrative expenses | $22,967,155 |
| Contributions, gifts, grants paid | $105,130,104 |
| Total expenses and disbursements | $128,097,259 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,000 |
| Savings and temporary cash investments | $416,736,155 |
| 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 | $1,444,085 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $3,982,668 |
| Net Land, buildings, and equipment | $30,823,447 |
| Other assets | $253,040 |
| Total assets | $453,240,395 |
| Accounts payable and accrued expenses | $3,725,161 |
| Grants payable | $188,942,740 |
| Deferred revenue | $4,322 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $192,672,223 |
Grants Awarded
Over the last fiscal year, Novo Foundation has awarded $382,319,075 in support to 892 organizations.
| Grant Recipient | Amount |
|---|---|
TIDES CENTER PURPOSE: PROJECT SUPPORT: "WOMEN BUILDING UP" | $40,000,000 |
TIDES FOUNDATION PURPOSE: PROJECT SUPPORT: ADVANCING GIRLS FUND | $27,541,597 |
HUDSON VALLEY FARM HUB LLC PURPOSE: GENERAL SUPPORT | $15,498,265 |
TIDES CENTER PURPOSE: PROJECT SUPPORT: "WOMEN BUILDING UP" | $10,000,000 |
COMMUNITY FOUNDATIONS OF THE HUDSON VALLEY PURPOSE: PROJECT SUPPORT: RADIO KINGSTON CORP | $9,139,000 |
New York, NY PURPOSE: PROJECT SUPPORT: SOCIAL EMOTIONAL LEARNING SUPPORT PHASE V | $5,900,672 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Novo Foundation has recieved totaling $700,000.
| Awarding Organization | Amount |
|---|---|
Community Initiatives Oakland, CA PURPOSE: GENERAL SUPPORT | $350,000 |
Community Initiatives Oakland, CA PURPOSE: GENERAL SUPPORT | $350,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
John Templeton Foundation West Conshohocken, PA | $3,891,819,736 | $674,493,008 |
Novo Foundation Kingston, NY | $453,240,395 | $236,125,352 |
Dr Miriam And Sheldon G Adelson Medical Research Foundation Needham, MA | $9,824,950 | $46,333,953 |
Donald B And Dorothy L Stabler Foundation Harrisburg, PA | $483,040,822 | $63,822,611 |
Fund For Charitable Giving Pittsburgh, PA | $174,176,180 | $114,342,351 |
Hope For Youth Inc Amityville, NY | $10,865,800 | $14,335,992 |
Lauren And Lee Fixel Family Foundation Inc New York, NY | $40,185,371 | $21,974,777 |
Joy In Childhood Foundation Inc Canton, MA | $7,582,989 | $8,931,292 |
Joint Council For Economic Opportunity Of Clinton & Franklin Plattsburgh, NY | $5,357,972 | $10,698,049 |
Health Management Group Ltd Getzville, NY | $13,266,135 | $8,802,636 |
Roy Lichtenstein Foundation New York, NY | $85,182,586 | $2,378,185 |
Mccance Foundation Tr North Scituate, MA | $91,930,926 | $3,999,038 |