The Patrick J Mcgovern Foundation Inc
- Assets
- $1.4b
- Revenue
- $18.4m
- Investments
- $1.4b
- Employees
- 0
- Location
- Boston, MA
- Founding
- 03/1990
- Data as of
- 12/2022
- EIN
- 22-3021586
Organization Overview
The Patrick J Mcgovern Foundation Inc is located in Boston, MA. The organization was established in 1990. 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. Patrick J Mcgovern 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 12/2022, Patrick J Mcgovern Foundation Inc generated $18.4m in total revenue. All expenses for the organization totaled $79.3m during the year ending 12/2022. While expenses have increased by 92.8% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Patrick J Mcgovern Foundation Inc has awarded 482 individual grants totaling $589,088,423. 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.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
NOT APPLICABLE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patrick J Mcgovern III Chair | 10 | $100,000 | |
Suzanne Dibianca Vice Chair | 5 | $100,000 | |
Elizabeth S Mcgovern Treasurer/clerk | 10 | $100,000 | |
Steven Verbinski Trustee/audit Committee | 5 | $100,000 | |
Vilas Dhar Trustee/president | 40 | $830,835 | |
Karen Kelley Gill Vice President Of Op | 40 | $378,067 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Global Endowment Management Lp | 12/30/22 | $3,105,616 |
Modern Scientist Global | 12/30/22 | $309,169 |
Dalberg Consulting | 12/30/22 | $174,519 |
Venable Llp | 12/30/22 | $109,216 |
Pkf O'connor Davies Llp | 12/30/22 | $82,936 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $15,880,722 |
| Interest on Savings | $0 |
| Dividends & Interest | $1,505,225 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,046,944 |
| Total Revenue | $18,432,891 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $1,230,835 |
| Other employee salaries and wages | $3,518,544 |
| Pension plans, employee benefits | $929,561 |
| Interest | $0 |
| Taxes | $2,929,665 |
| Depreciation | $14,407 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $296,780 |
| Printing and publications | $0 |
| Other expenses | $532,097 |
| Total operating and administrative expenses | $13,421,726 |
| Contributions, gifts, grants paid | $65,893,700 |
| Total expenses and disbursements | $79,315,426 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,644,123 |
| Savings and temporary cash investments | $194,046 |
| 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 | $1,387,983,120 |
| Net Land, buildings, and equipment | $22,778 |
| Other assets | $870,055 |
| Total assets | $1,394,714,122 |
| Accounts payable and accrued expenses | $72,097 |
| Grants payable | $680,000 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $4,425,391 |
| Total liabilities | $5,177,488 |
Grants Awarded
Over the last fiscal year, The Patrick J Mcgovern Foundation Inc has awarded $66,923,700 in support to 181 organizations.
| Grant Recipient | Amount |
|---|---|
ACCESS NOW PURPOSE: TO SUPPORT WORK AT THE INTERSECTION OF CLIMATE AND DIGITAL RIGHTS | $500,000 |
AMEELIO PURPOSE: TO SUPPORT THE BUILDING OF TECHNOLOGY AND DIGITAL EDUCATION OPPORTUNITIES FOR A MORE REHABILITATIVE CORRECTIONS SYSTEM | $500,000 |
AMERICAN FORESTS PURPOSE: TO PROVIDE SUPPORT FOR THE DEVELOPMENT OF THE TREE EQUITY SCORE 2.0 TECHNOLOGY AND RELATED CLIMATE AND COMMUNITY-DRIVEN PROGRESS | $250,000 |
AMERICAN HEART ASSOCIATION INC PURPOSE: PJMF GIFT MATCHING | $100 |
AMERICAN RED CROSS PURPOSE: TO SUPPORT NEW INITIATIVES IN MACHINE LEARNING, DATA SCIENCE, AND DATA CULTURES TO ADVANCE LIFESAVING BIOMEDICAL SERVICE DISTRIBUTION AND DISASTER RESPONSE ACROSS THE US | $1,000,000 |
ASHOKA TRUST FOR RESEARCH IN ECOLOGY AND THE ENVIRONMENT PURPOSE: TO SUPPORT DATA CAPACITY IN CONSERVATION EFFORTS. | $150,000 |