Joseph Drown Foundation
- Assets
- $98.6m
- Revenue
- $6.9m
- Investments
- $97.9m
- Employees
- 0
- Location
- Los Angeles, CA
- Founding
- 08/1954
- Data as of
- 03/2022
- EIN
- 95-6093178
Organization Overview
Joseph Drown Foundation is located in Los Angeles, 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. Joseph Drown 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 03/2022, Joseph Drown Foundation generated $6.9m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (2.4%) each year. All expenses for the organization totaled $6.1m during the year ending 03/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Joseph Drown Foundation has awarded 765 individual grants totaling $29,678,900. 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 | $321,252 | |
Ann Miller Chief Financial Officer | 37.5 | $245,000 | |
Nadine Bell Director | 1 | $18,000 | |
Marlene Canter Director | 1.5 | $18,000 | |
Eric Fleiss Director | 1 | $18,000 | |
Jean Kaplan Director | 2 | $18,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Northern Trust Bank | 3/30/22 | $111,298 |
Allspring Global | 3/30/22 | $101,752 |
Edgewood Management | 3/30/22 | $133,833 |
Tcw | 3/30/22 | $62,258 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $814,967 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $6,058,612 |
| Capital Gain Net Income | $10,992,543 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $3,074 |
| Total Revenue | $6,876,653 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $667,740 |
| Other employee salaries and wages | $184,460 |
| Pension plans, employee benefits | $168,007 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $3,571 |
| Occupancy | $61,148 |
| Travel, conferences, and meetings | $8,824 |
| Printing and publications | $252 |
| Other expenses | $50,579 |
| Total operating and administrative expenses | $1,615,357 |
| Contributions, gifts, grants paid | $4,474,500 |
| Total expenses and disbursements | $6,089,857 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $100 |
| Savings and temporary cash investments | $588,729 |
| 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 | $45,324 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $28,474,551 |
| Net Land, buildings, and equipment | $8,348 |
| Other assets | $73,354 |
| Total assets | $98,582,345 |
| Accounts payable and accrued expenses | $184,885 |
| Grants payable | $835,000 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $304,170 |
| Total liabilities | $1,324,055 |
Grants Awarded
Over the last fiscal year, Joseph Drown Foundation has awarded $5,444,500 in support to 112 organizations.
| Grant Recipient | Amount |
|---|---|
Northridge, CA PURPOSE: SPECIAL GRANT IN MEMORY OF PHIL MAGARAM | $250,000 |
Los Angeles, CA PURPOSE: LA RECOVERY FUND | $200,000 |
Northridge, CA PURPOSE: OPERATING SUPPORT FOR MARILYN MAGARAM CENTER | $200,000 |
Los Angeles, CA PURPOSE: DAVID GEFFEN SCHOOL OF MEDICINE DEAN'S AWARD | $150,000 |
Los Angeles, CA PURPOSE: TRANSFORM SCHOOLS PROGRAM | $125,000 |
Los Angeles, CA PURPOSE: DR. ZUMSTEG RESEARCH: OPTIMIZING TREATMENT DECISIONS FOR HEAD AND NECK CANCER PATIENTS | $100,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Mimi And Peter Haas Fund San Francisco, CA | $0 | $22,825,724 |
William K Bowes Jr Foundation San Francisco, CA | $0 | $15,233,813 |
Collins Foundation Portland, OR | $249,591,840 | $5,256,313 |
Walter And Elise Haas Fund San Francisco, CA | $290,773,419 | $45,613,238 |
Lisa And Douglas Goldman Fund San Francisco, CA | $314,443,125 | $25,968,602 |
Wood-Claeyssens Foundation Santa Barbara, CA | $112,450,224 | $19,490,467 |
The Saban Family Foundation Los Angeles, CA | $4,126,107 | $4,076,196 |
Freeport-Mcmoran Copper & Gold Foundation Phoenix, AZ | $2,326,146 | $18,600,000 |
California Winegrowers Foundation Napa, CA | $3,681,527 | $16,676,626 |
Multi-Union Security Trust Fund Glendale, CA | $14,944,884 | $16,888,135 |
Helen And Wil Webster Foundation Arcadia, CA | $240,695,845 | $9,736,121 |
Dart-L Foundation Los Angeles, CA | $255,386,011 | $40,281,490 |