Gray Foundation
- Assets
- $81.5m
- Revenue
- $64.0m
- Investments
- $78.2m
- Employees
- 0
- Location
- Albany, NY
- Founding
- 11/2014
- Data as of
- 12/2023
- EIN
- 47-1408100
Organization Overview
Gray Foundation is located in Albany, 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 12/2023, Gray Foundation generated $64.0m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 11.9% each year . All expenses for the organization totaled $48.4m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Gray Foundation has awarded 718 individual grants totaling $177,727,262. 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
2023
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 |
|---|---|---|---|
Jonathan Gray President | 1 | $0 | |
Mindy Gray Secretary & Treasurer | 1 | $0 | |
Dana Zucker Chief Executive Officer | 40 | $592,000 | |
Charissa Fernandez President | 40 | $365,000 | |
Charlotte Baynard Program Officer | 40 | $200,000 | |
Margaret Mcconville Office Manager | 40 | $172,500 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sage Bionetworks | 12/30/23 | $385,122 |
Simpson Thacher & Bartlett Llp | 12/30/23 | $140,419 |
Ayco Company Lp | 12/30/23 | $162,375 |
Idlewild Partners | 12/30/23 | $140,213 |
Pat Morin | 12/30/23 | $60,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $41,191,330 |
| Interest on Savings | $0 |
| Dividends & Interest | $1,559,098 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $21,269,082 |
| Capital Gain Net Income | $21,269,082 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $2,421 |
| Total Revenue | $64,021,931 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $957,000 |
| Other employee salaries and wages | $592,500 |
| Pension plans, employee benefits | $243,136 |
| Interest | $0 |
| Taxes | $201,500 |
| Depreciation | $0 |
| Occupancy | $191,807 |
| Travel, conferences, and meetings | $11,350 |
| Printing and publications | $0 |
| Other expenses | $379,289 |
| Total operating and administrative expenses | $3,485,390 |
| Contributions, gifts, grants paid | $44,960,813 |
| Total expenses and disbursements | $48,446,203 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,385,040 |
| 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 | $81,543,022 |
| 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 $44,960,813 in support to 179 organizations.
| Grant Recipient | Amount |
|---|---|
ACHILLES INTERNATIONAL INC PURPOSE: TO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION. | $10,000 |
ADVOCATES FOR CHILDREN PURPOSE: TO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION. | $500 |
ADVOCATES FOR CHILDREN PURPOSE: TO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION. | $25,000 |
ALBERT EINSTEIN COLLEGE OF MEDICINE PURPOSE: CITY COLLEGE MEDICAL PATHWAYS BRIDGE PROGRAM | $21,000 |
AMERICAN FRIENDS OF RABIN MEDICAL CENTER INC PURPOSE: TO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION. | $30,000 |
AMERICAN CANCER SOCIETY INC PURPOSE: TO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION. | $10,000 |