The Herb Alpert Foundation
- Assets
- $33.3m
- Revenue
- $7.3m
- Investments
- $31.2m
- Employees
- 0
- Location
- Santa Monica, CA
- Founding
- 03/1993
- Data as of
- 12/2022
- EIN
- 95-4191227
Organization Overview
The Herb Alpert Foundation is located in Santa Monica, CA. The organization was established in 1993. 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. Herb Alpert 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, Herb Alpert Foundation generated $7.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.3% each year. All expenses for the organization totaled $8.5m during the year ending 12/2022. While expenses have increased by 1.8% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Herb Alpert Foundation has awarded 787 individual grants totaling $75,610,454. 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 |
|---|---|---|---|
Herb Alpert Chairman | 0 | $0 | |
Lani Hall Alpert Vice Chair. | 0 | $0 | |
Rona Sebastian President | 40 | $625,000 | |
Paul Frimmer CFO | 0 | $0 | |
Ian Wiener Secretary | 0 | $0 | |
Arnold Santos Assistant Secretary | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
David Bryan | 12/30/22 | $151,200 |
C4 Global Communications Inc | 12/30/22 | $72,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $59,411 |
| Interest on Savings | $88 |
| Dividends & Interest | $1,112,454 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $6,136,179 |
| Capital Gain Net Income | $6,740,848 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $386 |
| Total Revenue | $7,308,518 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $625,000 |
| Other employee salaries and wages | $285,076 |
| Pension plans, employee benefits | $0 |
| Interest | $593 |
| Taxes | $57,141 |
| Depreciation | $84 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $417,453 |
| Total operating and administrative expenses | $1,427,305 |
| Contributions, gifts, grants paid | $7,080,600 |
| Total expenses and disbursements | $8,507,905 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $636,748 |
| Savings and temporary cash investments | $1,462,660 |
| 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 | $30,875 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,404 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $1,493 |
| Investments—other | $14,300 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $33,310,174 |
| 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, The Herb Alpert Foundation has awarded $7,080,600 in support to 85 organizations.
| Grant Recipient | Amount |
|---|---|
18TH STREET ARTS CENTER PURPOSE: CHARITABLE | $25,000 |
A NEW WAY OF LIFE PURPOSE: CHARITABLE | $10,000 |
AMERICANS FOR THE ARTS PURPOSE: CHARITABLE | $25,000 |
ANGEL CITY ARTS PURPOSE: CHARITABLE | $20,000 |
ARTS FOR HEALING & JUSTICE NETWORK PURPOSE: CHARITABLE | $20,000 |
ARTS FOR LA PURPOSE: CHARITABLE | $15,000 |