Vital Projects Fund Inc
- Assets
- $357.2m
- Revenue
- $7.1m
- Investments
- $336.9m
- Employees
- 0
- Location
- New York, NY
- Founding
- 06/1993
- Data as of
- 12/2022
- EIN
- 13-3711340
Organization Overview
Vital Projects Fund Inc is located in New York, NY. The organization was established in 1993. 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. Vital Projects Fund Inc 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, Vital Projects Fund Inc generated $7.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (8.0%) each year. All expenses for the organization totaled $15.6m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Vital Projects Fund Inc has awarded 262 individual grants totaling $30,257,000. 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
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
PLEASE NOTE THE FOUNDATION IS NOT INVOLVED IN ANY DIRECT CHARITABLE ACTIVITIES. ITS PRIMARY PURPOSE IS TO SUPPORT, BY CONTRIBUTIONS, OTHER CHARITABLE ORGANIZATIONS EXEMPT UNDER
INTERNAL REVENUE CODE SECTION 501(C)(3).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David F Menschel President/director/treasurer | 0.25 | $100,000 | |
Marianne Sammarco Assistant Secretary | 0.25 | $75,000 | |
Jay Rivlin Director | 0.25 | $40,000 | |
Robert B Menschel Former Director | 0 | $0 | |
Richard L Menschel Director | 0 | $0 | |
Lauren E Menschel Secretary/director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $119,465 |
| Dividends & Interest | $8,810,279 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$2,573,697 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $728,933 |
| Total Revenue | $7,084,980 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $215,000 |
| Other employee salaries and wages | $590,276 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $110,427 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,280,100 |
| Total operating and administrative expenses | $2,252,988 |
| Contributions, gifts, grants paid | $13,310,696 |
| Total expenses and disbursements | $15,563,684 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $7,774,738 |
| 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 | $12,544,236 |
| Total assets | $357,215,240 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $1,853,893 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $4,962,607 |
| Total liabilities | $6,816,500 |
Grants Awarded
Over the last fiscal year, Vital Projects Fund Inc has awarded $14,812,000 in support to 121 organizations.
| Grant Recipient | Amount |
|---|---|
ACLU FOUNDATION PURPOSE: GENERAL SUPPORT | $200,000 |
ABOLITIONIST LAW CENTER PURPOSE: GENERAL SUPPORT | $75,000 |
ADVERTISING COUNCIL PURPOSE: GENERAL SUPPORT | $25,000 |
ARIZONA CAPITAL REPRESENTATION PROJECT PURPOSE: GENERAL SUPPORT | $150,000 |
ATLANTIC CENTER FOR CAPITAL REPR PURPOSE: GENERAL SUPPORT | $80,000 |
ARCHIVES OF AMERICAN ART PURPOSE: GENERAL SUPPORT | $50,000 |