Sumner M Redstone Charitable Foundation
- Assets
- $55.5m
- Revenue
- $56.8m
- Investments
- $54.2m
- Employees
- 0
- Location
- Norwood, MA
- Founding
- 12/1986
- Data as of
- 12/2021
- EIN
- 22-2761621
Organization Overview
Sumner M Redstone Charitable Foundation is located in Norwood, MA. The organization was established in 1986. 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. Sumner M Redstone Charitable 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, Sumner M Redstone Charitable Foundation generated $56.8m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 19.2% each year . All expenses for the organization totaled $3.5m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $55,528,311 |
| Interest on Savings | $651 |
| Dividends & Interest | $942,928 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $315,334 |
| Capital Gain Net Income | $315,334 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $56,787,224 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $7,091 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $250 |
| Total operating and administrative expenses | $398,063 |
| Contributions, gifts, grants paid | $3,100,000 |
| Total expenses and disbursements | $3,498,063 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,284,781 |
| 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 | $54,209,638 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $55,494,419 |
| 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, Sumner M Redstone Charitable Foundation has awarded $3,100,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Woodland Hills, CA PURPOSE: GENERAL | $2,000,000 |
THE MASSACHUSETTS GENERAL HOSPITAL PURPOSE: GENERAL | $1,000,000 |
Long Beach, CA PURPOSE: GENERAL | $100,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
John R Oishei Foundation Buffalo, NY | $294,151,477 | $18,357,929 |
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 |
Eastern Bank Charitable Foundation Lynn, MA | $286,575,476 | $18,352,628 |
G Harold And Leila Mathers Charitable Foundation Rye Brook, NY | $96,045,942 | $16,941,265 |
Elms Foundation Providence, RI | $0 | -$22,907 |
Thomas L Kempner Jr Foundation Inc Southampton, NY | $328,355,645 | $44,754,721 |