Tower Family Fund Inc
- Assets
- $51.3m
- Revenue
- $6.5m
- Investments
- $49.6m
- Employees
- 0
- Location
- Buffalo, NY
- Founding
- 01/2007
- Data as of
- 12/2021
- EIN
- 20-5848514
Organization Overview
Tower Family Fund Inc is located in Buffalo, NY. The organization was established in 2007. 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. Tower Family 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 12/2021, Tower Family Fund Inc generated $6.5m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 5.6% each year. All expenses for the organization totaled $5.3m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Tower Family Fund Inc has awarded 286 individual grants totaling $14,982,132. 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 |
|---|---|---|---|
John N Blair Vp, Atty Director | 15 | $88,182 | |
Mollie T Byrnes Secretary, Director | 1 | $0 | |
Cynthia T Doyle Treasurer, Director | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Full Frame Communications Llc | 12/30/21 | $336,275 |
Ubs Financial Services Inc | 12/30/21 | $133,226 |
Ubs Financial Services Inc | 12/30/21 | $65,229 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $3,443 |
| Dividends & Interest | $1,086,680 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $5,431,571 |
| Capital Gain Net Income | $5,512,357 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $13,000 |
| Total Revenue | $6,534,694 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $88,182 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $14,226 |
| Taxes | $97,843 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $54,719 |
| Total operating and administrative expenses | $952,756 |
| Contributions, gifts, grants paid | $4,318,000 |
| Total expenses and disbursements | $5,270,756 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,502,968 |
| 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 | $160,451 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $31,237,214 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $25,885 |
| Total assets | $51,321,852 |
| 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, Tower Family Fund Inc has awarded $6,465,066 in support to 136 organizations.
| Grant Recipient | Amount |
|---|---|
Beverly, MA PURPOSE: CHALLENGE GRANT - NOT TO EXCEED $3,000,000 | $1,300,000 |
Buffalo, NY PURPOSE: MATCHING GRANT / EDUCATION ENDOWMENT - NOT TO EXCEED $625,000 | $500,000 |
THE HEALTH INITIATIVE PURPOSE: GRANT AGREEMENT | $200,000 |
Falmouth, MA PURPOSE: CAPITAL CAMPAIGN/LAND ASSESSMENT | $180,000 |
Chilmark, MA PURPOSE: GENERAL SUPPORT | $175,000 |
DUKES COUNTY REGIONAL HOUSING AUTHORITY PURPOSE: GRANT - NOT TO EXCEED $487,000 | $147,066 |
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 |