Halvorsen Family Foundation
- Assets
- $265.6m
- Revenue
- $15.5m
- Investments
- $265.4m
- Employees
- 0
- Location
- Stamford, CT
- Founding
- 02/2002
- Data as of
- 11/2023
- EIN
- 06-1603158
Organization Overview
Halvorsen Family Foundation is located in Stamford, CT. The organization was established in 2002. According to its NTEE Classification (T90) the organization is classified as: Named Trusts N.E.C., 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. Halvorsen Family 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 11/2023, Halvorsen Family Foundation generated $15.5m in total revenue. All expenses for the organization totaled $14.6m during the year ending 11/2023. While expenses have increased by 123.2% 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 2020, Halvorsen Family Foundation has awarded 68 individual grants totaling $44,330,950. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION IS NOT INVOLVED IN ANY CHARITABLE ACTIVITIES. ITS PRIMARY PURPOSE IS TO SUPPORT, BY CONTRIBUTIONS, OTHER ORGANIZATIONS EXEMPT UNDER IRC SECTION 501(C)(3).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ole Andreas Halvorsen Trustee | 0.3 | $0 | |
Diane K Halvorsen Trustee | 0.3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $2,093,450 |
| Interest on Savings | $12,824 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $13,368,989 |
| Capital Gain Net Income | $13,368,989 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $15,475,263 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $50 |
| Total operating and administrative expenses | $13,500 |
| Contributions, gifts, grants paid | $14,595,000 |
| Total expenses and disbursements | $14,608,500 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $133,793 |
| 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 | $265,428,300 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $265,562,093 |
| Accounts payable and accrued expenses | $380,000 |
| 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 | $380,000 |
Grants Awarded
Over the last fiscal year, Halvorsen Family Foundation has awarded $14,595,000 in support to 24 organizations.
| Grant Recipient | Amount |
|---|---|
CONNECTICUT AUDUBON SOCIETY PURPOSE: ENVIRONMENTAL INITIATIVES | $25,000 |
DARIEN COMMUNITY ASSOCIATION PURPOSE: COMMUNITY INITIATIVES | $10,000 |
DARIEN LIBRARY INC PURPOSE: LIBRARY SUPPORT | $10,000 |
GREEN MOUNTAIN VALLEY SCHOOL INC PURPOSE: EDUCATIONAL SUPPORT | $50,000 |
DARIEN EMS POST 53 INC PURPOSE: MEDICAL SUPPORT | $10,000 |
GREENS LEDGE LIGHT PRESERVATION PURPOSE: PRESERVATION SUPPORT | $35,000 |