Sumner M Redstone Charitable Foundation
- Assets
- $56.4m
- Revenue
- $5.7m
- Investments
- $54.4m
- Employees
- 0
- Location
- Norwood, MA
- Founding
- 12/1986
- Data as of
- 12/2022
- 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 12/2022, Sumner M Redstone Charitable Foundation generated $5.7m in total revenue. All expenses for the organization totaled $4.7m during the year ending 12/2022.
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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $10,000,000 |
| Interest on Savings | $9,900 |
| Dividends & Interest | $1,077,757 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$5,433,747 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $5,653,910 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $31,003 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $417,771 |
| Contributions, gifts, grants paid | $4,275,000 |
| Total expenses and disbursements | $4,692,771 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,059,222 |
| 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 | $54,387,338 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $56,446,560 |
| 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 $4,275,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
NEW ENGLAND YACHAD PURPOSE: GENERAL | $25,000 |
MOTION PICTURE & TELEVISION FUND PURPOSE: GENERAL | $4,000,000 |
BOSTON UNIVERSITY PURPOSE: GENERAL | $250,000 |