New York Life Foundation
- Assets
- $147.7m
- Revenue
- $26.5m
- Investments
- $120.1m
- Employees
- 0
- Location
- New York, NY
- Founding
- 07/1979
- Data as of
- 12/2022
- EIN
- 13-2989476
Organization Overview
New York Life Foundation is located in New York, NY. The organization was established in 1979. 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. New York Life 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, New York Life Foundation generated $26.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (24.6%) each year. All expenses for the organization totaled $24.7m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, New York Life Foundation has awarded 4,732 individual grants totaling $221,517,212. 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
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
New York Life Investors Llc | 12/30/22 | $135,990 |
Mitchell & Titus Llp | 12/30/22 | $57,080 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $25,245,750 |
| Interest on Savings | $0 |
| Dividends & Interest | $1,092,564 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $188,427 |
| Capital Gain Net Income | $4,402,906 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $26,526,741 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $192,283 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $81,590 |
| Total operating and administrative expenses | $463,230 |
| Contributions, gifts, grants paid | $24,198,417 |
| Total expenses and disbursements | $24,661,647 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $24,439 |
| Savings and temporary cash investments | $2,099,146 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $25,155,694 |
| 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 | $39,020,857 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $332,369 |
| Total assets | $147,747,420 |
| Accounts payable and accrued expenses | $58,551 |
| Grants payable | $12,097,533 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $154,870 |
| Total liabilities | $12,310,954 |
Grants Awarded
Over the last fiscal year, New York Life Foundation has awarded $36,769,292 in support to 673 organizations.
| Grant Recipient | Amount |
|---|---|
A HAVEN PURPOSE: EDUC. GENERAL | $500 |
ACADEMY FOR BUSINESS AND TECHNOLOGY HIGH SCHOOL PURPOSE: EDUC. GENERAL | $500 |
ADELANTE MUJERES PURPOSE: EDUC. GENERAL | $50,000 |
ABRAHAM DEPP ELEMENTARY PURPOSE: EDUC. GENERAL | $500 |
ACERO CHARTER SCHOOLS INC PURPOSE: EDUC. GENERAL | $500 |
ACACIA MIDDLE PURPOSE: EDUC. GENERAL | $500 |