Gray Foundation
- Assets
- $79.7m
- Revenue
- $85.3m
- Investments
- $78.4m
- Employees
- 0
- Location
- Cohoes, NY
- Founding
- 11/2014
- Data as of
- 12/2022
- EIN
- 47-1408100
Organization Overview
Gray Foundation is located in Cohoes, NY. The organization was established in 2014. 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. Gray 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, Gray Foundation generated $85.3m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 19.0% each year . All expenses for the organization totaled $39.4m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Gray Foundation has awarded 185 individual grants totaling $60,504,473. 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
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION DOES NOT ENGAGE IN ANY DIRECT CHARITABLE ACTIVITIES; RATHER, IT ACCOMPLISHES ITS EXEMPT FUNCTION AND CHARITABLE PURPOSE THROUGH GRANT PAYMENTS TO IRC SECTION 501(C)(3) QUALIFIED CHARITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dana Zucker Chief Executive Officer | 40 | $567,000 | |
Charissa Fernandez President | 40 | $340,000 | |
Charlotte Baynard Program Officer | 40 | $175,000 | |
Chi Van Dang Chief Science Office | 10 | $125,000 | |
Margaret Mcconville Office Manager | 40 | $86,148 | |
Jonathan Gray President | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sage Bionetworks | 12/30/22 | $590,996 |
Simpson Thacher & Bartlett Llp | 12/30/22 | $83,097 |
Ayco Company Lp | 12/30/22 | $158,618 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $67,125,364 |
| Interest on Savings | $0 |
| Dividends & Interest | $1,575,275 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $16,573,232 |
| Capital Gain Net Income | $16,573,232 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $66,862 |
| Total Revenue | $85,340,733 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $907,000 |
| Other employee salaries and wages | $386,148 |
| Pension plans, employee benefits | $229,096 |
| Interest | $0 |
| Taxes | $289,867 |
| Depreciation | $0 |
| Occupancy | $253,355 |
| Travel, conferences, and meetings | $1,136 |
| Printing and publications | $0 |
| Other expenses | $72,762 |
| Total operating and administrative expenses | $3,104,795 |
| Contributions, gifts, grants paid | $36,330,988 |
| Total expenses and disbursements | $39,435,783 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,301,091 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $79,676,216 |
| 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, Gray Foundation has awarded $36,330,988 in support to 183 organizations.
| Grant Recipient | Amount |
|---|---|
Long Island City, NY PURPOSE: TO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION. | $5,000,000 |
THE TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA PURPOSE: TO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION. | $4,100,000 |
New York, NY PURPOSE: TO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION. | $2,000,000 |
THE TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA PURPOSE: TO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION. | $1,325,000 |
THE TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA PURPOSE: TO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION. | $1,000,000 |
Boston, MA PURPOSE: TO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION. | $1,000,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
J E Barbey 8 Tenacre Foundation Pittsburgh, PA | $817,905 | $68,136,758 |
S & G Foundation albany, NY | $1,180,089,159 | $294,936,683 |
Steven & Alexandra Cohen Foundation Inc Stamford, CT | $524,605,658 | $98,007,018 |
Starr Foundation New York, NY | $1,351,331,495 | $187,314,215 |
Robertson Foundation New York, NY | $308,129,047 | $104,540,927 |
William Randolph Hearst Foundation New York, NY | $0 | $92,096,829 |
Foundation For A Just Society New York, NY | $0 | $262,120,919 |
Surdna Foundation Inc New York, NY | $0 | $71,392,126 |
Johnson & Johnson Foundation United States Inc New Brunswick, NJ | $130,108,063 | $92,858,448 |
Carson Fam Charitable Tr New York, NY | $302,357,968 | $144,716,166 |
Blavatnik Family Foundation 2020 New York, NY | $0 | $14,146 |
Henry Luce Foundation Inc New York, NY | $1,226,277,880 | $84,818,070 |