Hess Philanthropic Fund
- Assets
- $231.4m
- Revenue
- $32.6m
- Investments
- $219.4m
- Employees
- 0
- Location
- New York, NY
- Founding
- 09/2016
- Data as of
- 11/2022
- EIN
- 81-3520745
Organization Overview
Hess Philanthropic Fund is located in New York, NY. The organization was established in 2016. According to its NTEE Classification (T90) the organization is classified as: Named Trusts 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. Hess Philanthropic Fund is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Since 2021, Hess Philanthropic Fund has awarded 206 individual grants totaling $176,853,285. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marlene Hess Director | 0 | $0 | |
Peter Hess Friedland Director | 0 | $0 | |
Margaret Hess Chi Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $10,773,722 |
| Interest on Savings | $56,324 |
| Dividends & Interest | $3,017,609 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $17,878,172 |
| Capital Gain Net Income | $17,878,172 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $865,347 |
| Total Revenue | $32,591,174 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $155,480 |
| Taxes | $285,165 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $3,145,037 |
| Total operating and administrative expenses | $5,101,341 |
| Contributions, gifts, grants paid | $15,780,993 |
| Total expenses and disbursements | $20,882,334 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $12,014,989 |
| 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 | $183,483,943 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $2,650 |
| Total assets | $231,447,732 |
| 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 | $1,130,060 |
| Total liabilities | $1,130,060 |
Grants Awarded
Over the last fiscal year, Hess Philanthropic Fund has awarded $77,216,092 in support to 68 organizations.
| Grant Recipient | Amount |
|---|---|
METROPOLITAN MUSEUM OF ART PURPOSE: CHARITABLE | $65,000 |
METROPOLITAN OPERA PURPOSE: CHARITABLE | $825,000 |
MOMA PS1 PURPOSE: CHARITABLE | $25,000 |
MANHATTAN THEATRE CLUB PURPOSE: CHARITABLE | $12,500 |
MUSEUM OF MODERN ART PURPOSE: CHARITABLE | $5,096,400 |
NATIONAL TRUST FOR HISTORIC PRESERVATION PURPOSE: CHARITABLE | $500,000 |