Joseph Drown Foundation
- Assets
- $104.0m
- Revenue
- $10.5m
- Investments
- $103.8m
- Employees
- 0
- Location
- Beverly Hills, CA
- Founding
- 08/1954
- Data as of
- 03/2021
- EIN
- 95-6093178
Organization Overview
Joseph Drown Foundation is located in Beverly Hills, CA. The organization was established in 1954. 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.
For the year ending 03/2021, Joseph Drown Foundation generated $10.5m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 5.7% each year. All expenses for the organization totaled $5.9m during the year ending 03/2021. While expenses have increased by 1.7% per year over the past 5 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 2017, Joseph Drown Foundation has awarded 539 individual grants totaling $18,580,800. 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 |
|---|---|---|---|
Wendy Wachtell President, Director | 37.5 | $316,504 | |
Ann Miller Chief Financial Officer | 37.5 | $230,000 | |
Philip Magaram Treasury, Director | 2.5 | $32,400 | |
Nadine Bell Director | 1 | $18,000 | |
Marlene Canter Director | 1.5 | $18,000 | |
Eric Fleiss Director | 1 | $18,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Edgewood Management | 3/30/21 | $110,170 |
Wells Capital Management | 3/30/21 | $102,561 |
Northern Trust Bank | 3/30/21 | $87,007 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $755,497 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $9,722,884 |
| Capital Gain Net Income | $9,417,898 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $10,478,381 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $668,904 |
| Other employee salaries and wages | $157,070 |
| Pension plans, employee benefits | $158,686 |
| Interest | $0 |
| Taxes | $483,077 |
| Depreciation | $5,425 |
| Occupancy | $164,803 |
| Travel, conferences, and meetings | $20,124 |
| Printing and publications | $0 |
| Other expenses | $41,776 |
| Total operating and administrative expenses | $2,125,832 |
| Contributions, gifts, grants paid | $3,768,600 |
| Total expenses and disbursements | $5,894,432 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $100 |
| Savings and temporary cash investments | $67,661 |
| 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 | $51,059 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $29,820,944 |
| Net Land, buildings, and equipment | $35,261 |
| Other assets | $70,273 |
| Total assets | $104,011,094 |
| Accounts payable and accrued expenses | $605,538 |
| Grants payable | $970,000 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $384,446 |
| Total liabilities | $1,959,984 |
Grants Awarded
Over the last fiscal year, Joseph Drown Foundation has awarded $5,653,600 in support to 114 organizations.
| Grant Recipient | Amount |
|---|---|
Washington, DC PURPOSE: THE SEED SCHOOL OF LOS ANGELES COUNTY | $1,000,000 |
Los Angeles, CA PURPOSE: DAVID GEFFEN SCHOOL OF MEDICINE JDF DEAN'S AWARD IN RESEARCH | $150,000 |
Los Angeles, CA PURPOSE: DAVID GEFFEN SCHOOL OF MEDICINE JDF DEAN'S AWARD IN RESEARCH | $150,000 |
CSUN MARILYN MAGARAM CENTER PURPOSE: TELEHEALTH CLINIC | $100,000 |
EMERGING MARKETS DEVELOPMENT CORPORATION PURPOSE: NEIGHBORHOOD REIT STRUCTURE DEVELOPMENT | $100,000 |
Los Angeles, CA PURPOSE: LOS ANGELES COVID-19 RELIEF FUND | $100,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Dhanam Foundation Palo Alto, CA | $240,486,978 | $22,546,620 |
Bill And Susan Oberndorf Foundation San Francisco, CA | $112,203,553 | $60,521,504 |
Multi-Union Security Trust Fund Glendale, CA | $14,553,001 | $18,459,588 |
Jen-Hsun & Lori Huang Foundation Palo Alto, CA | $379,998,023 | $33,387,544 |
Cabin Road Foundation 04042011 San Francisco, CA | $0 | $11,725,002 |
Lisa And Douglas Goldman Fund San Francisco, CA | $271,150,514 | $10,354,814 |
The Herb Alpert Foundation Santa Monica, CA | $16,298,430 | $6,050,673 |
Saul Brandman Foundation Beverly Hills, CA | $253,384,395 | $11,766,293 |
The Oak Foundation Usa San Francisco, CA | $40,592,071 | $13,275,539 |
Wasserman Foundation Los Angeles, CA | $142,881,526 | $7,451,130 |
Mimi And Peter Haas Fund San Francisco, CA | $209,239,084 | $28,552,506 |
Walter And Elise Haas Fund San Francisco, CA | $237,988,230 | $40,234,428 |