Ares Charitable Foundation

Organization Overview

Ares Charitable Foundation is located in Los Angeles, CA. According to its NTEE Classification (T12) the organization is classified as: Fund Raising & Fund Distribution, 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. Ares Charitable 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 12/2021, Ares Charitable Foundation generated $4.9m in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 20.0% each year . All expenses for the organization totaled $3.1m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.

Since 2020, Ares Charitable Foundation has awarded 11 individual grants totaling $2,630,000. 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

THE FOUNDATION IS FOCUSED ON ACCELERATING EQUALITY OF ECONOMIC OPPORTUNITY THROUGH STRATEGIC INVESTMENTS THAT PROVIDE CAREER PREPARATION AND RESKILLING, ENCOURAGE ENTREPRENEURSHIP AND DEEPEN INDIVIDUALS' UNDERSTANDING OF PERSONAL FINANCE SO THAT PEOPLE CAN PURSUE A BETTER FUTURE. THE FOUNDATION MAY ALSO SERVE AS A VEHICLE FOR SELECT GIVING OPPORTUNITIES IN CONNECTION WITH SIGNIFICANT LOCAL AND GLOBAL CRISES, INCLUDING PUBLIC HEALTH AND NATURAL DISASTERS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

"ALTFINANCE: INVESTING IN BLACK FUTURES". THE INITIATIVE IS DESIGNED TO DIVERSIFY THE ALTERNATIVE INVESTMENT INDUSTRY BY ATTRACTING, TRAINING AND PROVIDING CAREER OPPORTUNITIES FOR COLLEGE STUDENTS ATTENDING HISTORICALLY BLACK COLLEGES AND UNIVERSITIES. THE INITIATIVE HAS THREE PRIMARY COMPONENTS: A MENTORED FELLOWSHIP PROGRAM, A TAILORED VIRTUAL INSTITUTE AND A SCHOLAR SHIP PROGRAM. ARES CHARITABLE FOUNDATION INTENDS TO CONTRIBUTE $3M PER YEAR FOR 10 YEARS.


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Board, Officers & Key Employees

Name (title)Compensation
Gregory Margolies
Treasurer/director
$0
Michael D Weiner
Secretary/director
$0
Michael Arougheti
President/director
$0
Caroline Blakely
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$4,940,952
Noncash contributions included in lines 1a–1f $56,977
Total Revenue from Contributions, Gifts, Grants & Similar$4,940,952
Total Program Service Revenue$0
Investment income $189
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $259
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $4,941,400

Grants Awarded

Over the last fiscal year, Ares Charitable Foundation has awarded $2,630,000 in support to 11 organizations.

Grant RecipientAmount

PATH (PROGRAM FOR APPROPRIATE TECHNOLOGY IN HEALTH)

Org PageRecipient Profile

Seattle, WA

PURPOSE: COVID 19 SUPPORT AND RELIEF

$500,000

THE UCLA FOUNDATION

Org PageRecipient Profile

Los Angeles, CA

PURPOSE: COVID 19 SUPPORT AND RELIEF

$500,000

CEDARS-SINAI MEDICAL CENTER

Org PageRecipient Profile

Los Angeles, CA

PURPOSE: COVID 19 SUPPORT AND RELIEF

$500,000

WEILL MEDICAL COLLEGE OF CORNELL

PURPOSE: COVID 19 SUPPORT AND RELIEF

$335,000

NORTHWELL HEALTH FOUNDATION

Org PageRecipient Profile

Westbury, NY

PURPOSE: COVID 19 SUPPORT AND RELIEF

$335,000

ICAHN SCHOOL OF MEDICINE AT MOUNT SINAI

Org PageRecipient Profile

New York, NY

PURPOSE: COVID 19 SUPPORT AND RELIEF

$335,000
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 3 grants that Ares Charitable Foundation has recieved totaling $1,297,187.

Awarding OrganizationAmount
Ressler Gertz Foundation

Encino, CA

PURPOSE: CONTRIBUTION

$1,000,000
David And Meredith Kaplan Foundation

Florham Park, NJ

PURPOSE: GENERAL UNRESTRICED

$250,000
American Online Giving Foundation Inc

Newark, DE

PURPOSE: GENERAL SUPPORT

$47,187
View Grant Recipient Profile

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