Musk Foundation
- Assets
- $536.2m
- Revenue
- $20.5m
- Investments
- $321.7m
- Employees
- 0
- Location
- Austin, TX
- Founding
- Data as of
- 12/2023
- EIN
- 85-2133087
Organization Overview
Musk Foundation is located in Austin, TX. 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. Musk 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, Musk Foundation generated $20.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (39.8%) each year. All expenses for the organization totaled $237.3m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Musk Foundation has awarded 121 individual grants totaling $567,172,081. 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 |
|---|---|---|---|
Elon Musk President & Director | 1 | $0 | |
Jared Birchall Secretary & Treasurer & Director | 1 | $0 | |
Matilda Simon Director | 0.1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Catalyst Family Office Llc | 12/30/22 | $161,579 |
Withers Bergman Llp | 12/30/22 | $107,848 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $3 |
| Dividends & Interest | $20,422,345 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $59,404 |
| Capital Gain Net Income | $59,404 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $9,901 |
| Total Revenue | $20,491,653 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $400,000 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $169,403 |
| Total operating and administrative expenses | $654,425 |
| Contributions, gifts, grants paid | $236,621,463 |
| Total expenses and disbursements | $237,275,888 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $214,474,669 |
| 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 | $199,644,201 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $536,153,034 |
| 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, Musk Foundation has awarded $236,621,463 in support to 43 organizations.
| Grant Recipient | Amount |
|---|---|
AIR FORCE AID SOCIETY INC PURPOSE: SUPPORT AIRMEN AND GUARDIANS | $50,000 |
THE DEFINITY PROJECT INC PURPOSE: SUPPORT EDUCATION INITIATIVES | $255,000 |
BOSTON UNIVERSITY PURPOSE: SUPPORT UNIVERSITY OPERATIONS AND PROGRAMS | $15,000 |
BROWNSVILLE WELLNESS COALITION PURPOSE: SUPPORT CULTIVATION OF HEALTHY FOOD AND LIFESTYLES | $125,000 |
BROWNSVILLE INDEPENDENT SCHOOL DISTRICT PURPOSE: SUPPORT SCHOOL OPERATIONS AND PROGRAMS | $1,750,000 |
TEJANO CENTER FOR COMMUNITY CONCERNS PARENT OF BROWNSVILLE RYSS ACADEMY PURPOSE: SUPPORT SCHOOL OPERATIONS AND PROGRAMS | $60,900 |