Theodore J Forstmann Charitable Trust
- Assets
- $79.8m
- Revenue
- $674.2k
- Investments
- $61.0m
- Employees
- 0
- Location
- New York, NY
- Founding
- 03/2015
- Data as of
- 12/2021
- EIN
- 47-1716810
The information for Theodore J Forstmann Charitable Trust is as of the organization's most recent filing in December '21. This organization is located in New York, NY. It has been in existence for 6 years, following its founding in 2015.
Organization Classification
The IRS classifies organizations according to the National Taxonomy of Exempt Entities (NTEE) system. The NTEE system helps the IRS assign a 3-character code to each organization to describe the organization's activities.
The Theodore J Forstmann Charitable Trust is classified under the NTEE code T22, which falls under the major classification of Philanthropy, Voluntarism & Grantmaking Foundations. The organization is further classified as a Private Independent Foundation. Private Independent Foundations are focused primarily on grantmaking and do not actively raise funds or seek public financial support. They are typically endowed by a single individual or family and are considered family foundations if relatives or the original donor are still involved in the foundation's operations. The organization is also governed by section code 3, which includes Religious, Educational, Charitable, Scientific, Literary, Public Safety, Amateur Sports, or Prevention of Cruelty to Children or Animals Organizations.
Grant History
Our dataset includes four years of grant history for the Theodore J Forstmann Charitable Trust. Over the course of these four years, they have awarded a total of 133 grants, with an average check size of $512,390. On average, the organization awards 33 grants each year. The majority of these grants were awarded in the Education sector, with a total of 28 grants. Additionally, they have awarded grants in the Human Services sector (23) and Recreation & Sports sector (9). In terms of geographical distribution, the organization has awarded the highest number of grants in New York (61), followed by California (17), Florida (11), and Connecticut (9). They have also awarded grants in several other states, including New Hampshire, Ohio, Arizona, South Dakota, Vermont, Massachusetts, and New Jersey.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Courtney O'malley Executive Director To Trus | 40 | $292,000 | |
Bessemer Trust Company Na Co-Trustee | 40 | $87,950 | |
Margot Mcginness Co-Trustee | 12 | $0 | |
Kathleen Broderick Co-Trustee | 12 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $610,913 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $4,697 |
| Capital Gain Net Income | $4,697 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $58,600 |
| Total Revenue | $674,210 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $379,950 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $71,920 |
| Interest | $0 |
| Taxes | $19,800 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $4,465 |
| Printing and publications | $0 |
| Other expenses | $51,485 |
| Total operating and administrative expenses | $836,083 |
| Contributions, gifts, grants paid | $16,325,255 |
| Total expenses and disbursements | $17,161,338 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $18,771,521 |
| 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 | $79,816,371 |
| 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, Theodore J Forstmann Charitable Trust has awarded $16,325,255 in support to 36 organizations.
| Grant Recipient | Amount |
|---|---|
New York, NY PURPOSE: GENERAL EXEMPT PURPOSE | $4,937,500 |
Los Angeles, CA PURPOSE: GENERAL EXEMPT PURPOSE | $1,959,790 |
Bloomfield, NJ PURPOSE: GENERAL EXEMPT PURPOSE | $1,333,334 |
Vero Beach, FL PURPOSE: GENERAL EXEMPT PURPOSE | $700,000 |
Pine Ridge, SD PURPOSE: GENERAL EXEMPT PURPOSE | $630,000 |
Inglewood, CA PURPOSE: GENERAL EXEMPT PURPOSE | $500,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Gray Foundation Cohoes, NY | $79,676,216 | $85,340,733 |
Liberty Mutual Foundation Inc Boston, MA | $40,383,671 | $39,283,240 |
Tl Foundation Suffern, NY | $597,015 | $24,643,909 |
Park Foundation Inc Ithaca, NY | $505,545,130 | $75,092,084 |
The Nathan Cummings Foundation Inc New York, NY | $538,275,709 | $724,216 |
Donald A Pels Charitable Tr 081892 Harrison, NY | $318,380,585 | $19,080,873 |
Fisher Koch Family Foundation Inc New York, NY | $18,346,148 | $55,675,398 |
One Tree Planted Inc Shelburne, VT | $46,452,599 | $64,092,797 |
Maguire Foundation West Conshohocken, PA | $0 | $10,846,953 |
Mercer Family Foundation Waltham, MA | $54,165,721 | $38,341,516 |
Mabel Pew Myrin Trust Philadelphia, PA | $417,886,148 | $39,075,922 |
Brooks Family Foundation Boston, MA | $0 | $26,552,695 |