Hess Foundation Inc
- Assets
- $0.0
- Revenue
- $35.3m
- Investments
- $127.5m
- Employees
- 0
- Location
- Parsippany, NJ
- Founding
- 10/1957
- Data as of
- 11/2020
- EIN
- 22-1713046
Organization Overview
Hess Foundation Inc is located in Parsippany, NJ. The organization was established in 1957. 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. Hess 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 11/2020, Hess Foundation Inc generated $35.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (10.6%) each year. All expenses for the organization totaled $35.8m during the year ending 11/2020. As we would expect to see with falling revenues, expenses have declined by (4.2%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Hess Foundation Inc has awarded 1,212 individual grants totaling $340,755,178. 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 |
|---|---|---|
Hess Group Llc | 11/29/21 | $323,207 |
Sullivan & Cromwell | 11/29/21 | $54,500 |
Cohnreznick Llp | 11/29/21 | $117,597 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $21,547,444 |
| Interest on Savings | $0 |
| Dividends & Interest | $7,880,742 |
| Profit on Inventory Sales | $0 |
| Other Income | $290,021 |
| Total Revenue | $35,298,919 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Pension plans, employee benefits | $0 |
| Depreciation | $0 |
| Occupancy | $3,600 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Total operating and administrative expenses | $1,385,227 |
| Contributions, gifts, grants paid | $34,446,500 |
| Total expenses and disbursements | $35,831,727 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $16,054,723 |
| Investments—mortgage loans | $0 |
| Investments—other | $90,476,288 |
| Other assets | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $10,000,000 |
Grants Awarded
Over the last fiscal year, Hess Foundation Inc has awarded $50,369,500 in support to 136 organizations.
| Grant Recipient | Amount |
|---|---|
Philadelphia, PA PURPOSE: IN SUPPORT OF NEW FACILITIES | $20,000,000 |
New York, NY PURPOSE: AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. | $5,250,000 |
HARVARD BUSINESS SCHOOL PURPOSE: AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. | $5,150,000 |
Philadelphia, PA PURPOSE: PICASSO PROJECT | $1,630,000 |
DEERFIELD ACADEMY PURPOSE: COVID EMPLOYEE RELIEF FUND | $1,550,000 |
PHILADELPHIA ORCHESTRA PURPOSE: AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. | $1,515,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
William Penn Foundation Philadelphia, PA | $0 | $175,834,650 |
The Heinz Endowments Pittsburgh, PA | $0 | $54,378,087 |
Druckenmiller Foundation New York, NY | $1,579,806,367 | $402,828,458 |
Rockefeller Brothers Fund Inc New York, NY | $1,654,004,790 | $94,665,303 |
Anna Maria And Stephen Kellen Foundation Inc New York, NY | $1,287,407,560 | $57,361,611 |
The Wallace Foundation New York, NY | $1,815,949,042 | $114,535,478 |
Oberkotter Foundation Philadelphia, PA | $83,021,123 | $23,009,013 |
Stephen A Schwarzman Foundation New York, NY | $124,156,635 | $61,557,254 |
Pepsico Foundation Inc Purchase, NY | $25,033,678 | $1,734,936 |
Pnc Foundation Pittsburgh, PA | $218,373,148 | $3,451,991 |
Foundation Mireille And James Levy Usa New York, NY | $36,878,233 | $277,701 |
The Bat Hanadiv Foundation No 3 New York, NY | $1,717,297,999 | $245,079,951 |