Kovner Foundation
- Assets
- $242.2m
- Revenue
- $16.1m
- Investments
- $242.2m
- Employees
- 0
- Location
- Jupiter, FL
- Founding
- 10/1996
- Data as of
- 12/2022
- EIN
- 22-3468030
Organization Overview
Kovner Foundation is located in Jupiter, FL. The organization was established in 1996. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Kovner 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, Kovner Foundation generated $16.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (4.3%) each year. All expenses for the organization totaled $18.1m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (5.3%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Kovner Foundation has awarded 382 individual grants totaling $134,067,862. 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 |
|---|---|---|---|
Bruce S Kovner President | 1 | $0 | |
Peter P D'angelo Treasurer | 1 | $0 | |
Frank Wohl Co Lankler Siffert Wohl Director | 1 | $0 | |
Karen Cross Controller | 1 | $0 | |
Suzanne F Kovner Vice President | 1 | $0 | |
Heath Weisberg General Counsel & Secretary | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Rr Education Consultants | 12/30/22 | $233,540 |
Grant Thornton Llp | 12/30/22 | $68,905 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $6,581,405 |
| Dividends & Interest | $12,972,807 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$3,730,183 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $251,268 |
| Total Revenue | $16,075,297 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $115,145 |
| Taxes | $57,034 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $17,132 |
| Total operating and administrative expenses | $990,139 |
| Contributions, gifts, grants paid | $17,090,440 |
| Total expenses and disbursements | $18,080,579 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,575 |
| Savings and temporary cash investments | $0 |
| 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 | $242,201,147 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $242,203,722 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $21,359,506 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $377,633 |
| Total liabilities | $21,737,139 |
Grants Awarded
Over the last fiscal year, Kovner Foundation has awarded $38,449,946 in support to 111 organizations.
| Grant Recipient | Amount |
|---|---|
ACHIEVEMENT FIRST PURPOSE: EDUCATION | $50,000 |
AHA FOUNDATION PURPOSE: WOMEN'S RIGHT | $25,000 |
AHA FOUNDATION PURPOSE: WOMEN'S RIGHT | $50,000 |
AMERICAN FRIENDS OF LES ARTS FLORISSANT PURPOSE: GENERAL SUPPORT | $10,000 |
AMERICAN ASSOCIATES OF THE NATIONAL THEATRE PURPOSE: PERFORMING ARTS | $75,000 |
AMERICAN ENTERPRISE INSTITUTE PURPOSE: PUBLIC POLICY RESEARCH | $300,000 |