Zoom Foundation
- Assets
- $840.9m
- Revenue
- $97.3m
- Investments
- $818.7m
- Employees
- 0
- Location
- Greenwich, CT
- Founding
- 02/2001
- Data as of
- 06/2024
- EIN
- 06-1600601
Organization Overview
Zoom Foundation is located in Greenwich, CT. The organization was established in 2001. 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. Zoom 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 06/2024, Zoom Foundation generated $97.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $70.2m during the year ending 06/2024. While expenses have increased by 3.9% 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 2016, Zoom Foundation has awarded 16 individual grants totaling $294,531,708. 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
2024
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION INITIATIVE - PROGRAM TO IMPROVE K-12 EDUCATION IN THE STATE OF CONNECTICUT TO ELIMINATE THE OPPORTUNITY GAP; WORKED WITH ORGANIZATIONS TO DEVELOP AND IMPLEMENT PLANS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephen F Mandel Jr Trustee | 1 | $0 | |
Susan Z Mandel Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Social Strategy Associates Llc | 6/29/16 | $107,599 |
Zichal Inc | 6/29/16 | $166,553 |
The Glover Park Group Llc | 6/29/16 | $514,996 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $2,609,747 |
| Dividends & Interest | $4,601,428 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $88,747,526 |
| Capital Gain Net Income | $88,747,526 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,298,490 |
| Total Revenue | $97,257,191 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $999,024 |
| Taxes | $2,392,205 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $3,580,326 |
| Total operating and administrative expenses | $7,003,475 |
| Contributions, gifts, grants paid | $63,196,700 |
| Total expenses and disbursements | $70,200,175 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $22,146,881 |
| 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 | $0 |
| Total assets | $840,881,759 |
| Accounts payable and accrued expenses | $119 |
| 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 | $119 |
Grants Awarded
Over the last fiscal year, Zoom Foundation has awarded $60,988,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
FIDELITY CHARITABLE GIFT FUND PURPOSE: TO FUNDCHARITABLEPROGRAMS | $58,488,000 |
THE CONNECTICUT PROJECT INC PURPOSE: TO FUNDCHARITABLEPROGRAMS | $2,500,000 |