The Iac Foundation Inc
- Assets
- $25.0m
- Revenue
- $1.0m
- Investments
- $24.2m
- Employees
- 0
- Location
- New York, NY
- Founding
- 05/1998
- Data as of
- 12/2021
- EIN
- 13-3994361
Organization Overview
The Iac Foundation Inc is located in New York, NY. The organization was established in 1998. 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. Iac Foundation 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 12/2021, Iac Foundation Inc generated $1.0m in total revenue.
Since 2020, Iac Foundation Inc has awarded 83 individual grants totaling $1,255,500. 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
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE GENERAL EXPLANATION
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Board, Officers & Key Employees
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $950,303 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $52,555 |
| Capital Gain Net Income | $52,555 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,002,858 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $93,038 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $5,000 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $2,442 |
| Total operating and administrative expenses | $209,194 |
| Contributions, gifts, grants paid | $882,500 |
| Total expenses and disbursements | $1,091,694 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $711,018 |
| 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 | $24,955,382 |
| Accounts payable and accrued expenses | $117,194 |
| 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 | $117,194 |
Grants Awarded
Over the last fiscal year, The Iac Foundation Inc has awarded $882,500 in support to 63 organizations.
| Grant Recipient | Amount |
|---|---|
New York, NY PURPOSE: SCIENCE EDUCATION | $250,000 |
New York, NY PURPOSE: EDUCATION AND HUMAN SERVICES | $50,000 |
NATL CONSORTIUM FOR GRADUATE DEGREES FOR MINORITIE PURPOSE: EDUCATION - SPONSORING 2 GEM FELLOWSHIPS | $45,000 |
CARNEGIE HALL SOCIETY INC PURPOSE: EDUCATION -SUPPORT THEIR NATIONAL YOUTH ENSEMBLE | $30,000 |
New York, NY PURPOSE: HUMAN SERVICES | $30,000 |
New York, NY PURPOSE: EDUCATION | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
John R Oishei Foundation Buffalo, NY | $294,151,477 | $18,357,929 |
Lor Foundation Inc West Chester, PA | $352,392,197 | $12,888,892 |
Grable Foundation Pittsburgh, PA | $386,701,292 | $35,946,563 |
Connelly Foundation West Conshohocken, PA | $387,913,026 | $27,891,431 |
American Express Foundation New York, NY | $66,234,265 | $62,922,703 |
Essel Foundation Inc Purchase, NY | $100,106,056 | $12,292,478 |
Beth And Ravenel Curry Foundation New York, NY | $0 | $44,744,046 |
Kz Family Foundation New York, NY | $10,936,301 | $30,139,672 |
The Freeman Foundation P-01644-00-7 New York, NY | $343,405,683 | $35,941,951 |
Hearst Foundation Inc New York, NY | $439,249,947 | $42,040,987 |
Tansy Charitable Foundation New York, NY | $325,076,608 | $77,631,295 |
Gordon & Llura Gund Foundation Princeton, NJ | $18,024,465 | $6,191,436 |