Cy Twombly Foundation
- Assets
- $1.5b
- Revenue
- $9.5m
- Investments
- $133.2m
- Employees
- 0
- Location
- New York, NY
- Founding
- 12/2005
- Data as of
- 12/2021
- EIN
- 20-2572529
Organization Overview
Cy Twombly Foundation is located in New York, NY. The organization was established in 2005. 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. Cy Twombly 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 12/2021, Cy Twombly Foundation generated $9.5m 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 (7.6%) each year. All expenses for the organization totaled $11.8m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Cy Twombly Foundation has awarded 26 individual grants totaling $27,371,845. 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
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Viorel Grasu Administrator | 40 | $88,846 | |
Leeonora Di Erasmo Administrator | 40 | $85,000 | |
Raffaele Valante Administrator | 40 | $84,188 | |
Pamela Wakoff Controller | 40 | $80,000 | |
Nicholas Serota Director | 1 | $75,000 | |
Valentina Di Cesare Administrator | 40 | $60,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Baum Llc | 12/30/21 | $576,000 |
Jafram Ag | 12/30/21 | $572,964 |
Ubs Financial Services | 12/30/21 | $273,722 |
Citibank | 12/30/21 | $186,773 |
Morgan Stanley | 12/30/21 | $186,612 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $3,625,842 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $5,870,794 |
| Capital Gain Net Income | $5,870,794 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | -$5,660 |
| Total Revenue | $9,490,976 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $75,000 |
| Other employee salaries and wages | $399,348 |
| Pension plans, employee benefits | $106,761 |
| Interest | $0 |
| Taxes | $197,712 |
| Depreciation | $803,995 |
| Occupancy | $93,854 |
| Travel, conferences, and meetings | $10,820 |
| Printing and publications | $0 |
| Other expenses | $1,109,206 |
| Total operating and administrative expenses | $4,160,515 |
| Contributions, gifts, grants paid | $7,632,100 |
| Total expenses and disbursements | $11,792,615 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $800,620 |
| Savings and temporary cash investments | $2,457,804 |
| Net Accounts receivable | $55,057 |
| 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 | $48,484,808 |
| Net Land, buildings, and equipment | $23,692,247 |
| Other assets | $1,363,425,280 |
| Total assets | $1,523,666,390 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
Grants Awarded
Over the last fiscal year, Cy Twombly Foundation has awarded $7,772,100 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
PHILADELPHIA MUSEUM OF ART PURPOSE: NON-CASH DONATION OF ART FOR EXHIBITION SUPPORT | $7,000,000 |
New York, NY PURPOSE: COVID RELIEF | $250,000 |
FONDAZIONE NICOLA DEL ROSCIO PURPOSE: GENERAL SUPPORT | $240,000 |
New York, NY PURPOSE: GENERAL SUPPORT | $50,000 |
SAFE HORIZON INC PURPOSE: GENERAL SUPPORT | $50,000 |
SAFE HORIZON INC PURPOSE: GENERAL SUPPORT | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Arnhold Foundation Inc New York, NY | $497,481,101 | $53,665,580 |
The Morningside Foundation Newton Centre, MA | $22,445,720 | $11,895,776 |
Prudential Foundation Inc Newark, NJ | $137,651,624 | $53,115,847 |
The Grace And Mercy Foundation Inc New York, NY | $617,102,449 | $100,220,039 |
The Patrick J Mcgovern Foundation Inc Boston, MA | $1,660,673,846 | $20,910,577 |
One8 Foundation Boston, MA | $488,764,350 | $32,279,319 |
Peter G Peterson Foundation New York, NY | $1,055,700,983 | $50,280,779 |
Leon Levy Foundation New York, NY | $614,122,389 | $121,596,253 |
Shubert Foundation Inc New York, NY | $671,108,588 | $57,657,953 |
J Howard Pew Freedom Tr Philadelphia, PA | $675,828,558 | $64,346,772 |
Mccune Foundation Pittsburgh, PA | $180,488,577 | $38,182,239 |
Hauser Foundation Inc New York, NY | $0 | $9,971,722 |