Five Partners Foundation
- Assets
- $10.1m
- Revenue
- $263.2k
- Investments
- $7.0m
- Employees
- 0
- Location
- New York, NY
- Founding
- 05/2004
- Data as of
- 12/2022
- EIN
- 90-0142583
Organization Overview
Five Partners Foundation is located in New York, NY. The organization was established in 2004. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Five Partners 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 12/2022, Five Partners Foundation generated $263.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (7.9%) each year. All expenses for the organization totaled $294.4k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (2.5%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Five Partners Foundation has awarded 68 individual grants totaling $460,288. 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
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
MUSICAL INSTRUMENT PROGRAM: FOUNDATION PURCHASED MUSICAL INSTRUMENTS FOR PURPOSES OF LENDING THEM TO STUDENTS/ALUMNI OF THE JUILLIARD SCHOOL AND OTHER MUSIC CONSERVATORIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bernard G Palitz Jr President | 40 | $210,000 | |
Susan L Kane Secretary/treasurer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $804 |
| Dividends & Interest | $195,431 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $66,931 |
| Capital Gain Net Income | $66,931 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $263,166 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $210,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $12,746 |
| Interest | $0 |
| Taxes | $21,516 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $23,639 |
| Total operating and administrative expenses | $274,947 |
| Contributions, gifts, grants paid | $19,500 |
| Total expenses and disbursements | $294,447 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $244,059 |
| 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 | $2,937,850 |
| Total assets | $10,147,240 |
| 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, Five Partners Foundation has awarded $122,500 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
MT KISCO INTERFAITH FOOD PANTRY PURPOSE: EDUCATION | $9,000 |
JUILLIARD SCHOOL PURPOSE: EDUCATION | $105,000 |
JACOB BURNS FILM CENTER PURPOSE: UNRESTRICTED | $5,000 |
BELFORD PBA PURPOSE: UNRESTRICTED | $500 |
PERSIMMON TREE PURPOSE: UNRESTRICTED | $3,000 |