Cigna Foundation
- Assets
- $165.0m
- Revenue
- $8.1m
- Investments
- $162.9m
- Employees
- 0
- Location
- Philadelphia, PA
- Founding
- 11/1964
- Data as of
- 12/2021
- EIN
- 23-6261726
Organization Overview
Cigna Foundation is located in Philadelphia, PA. The organization was established in 1964. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cigna 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, Cigna Foundation generated $8.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (7.4%) each year. All expenses for the organization totaled $16.1m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Cigna Foundation has awarded 8,158 individual grants totaling $67,680,040. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
CIGNA FOUNDATION EXPENDED $56,551 IN 2019 TO CARRY OUT ITS HEALTH IMPROVEMENT TOUR, WHICH, IN COLLABORATION WITH PARTNER NONPROFIT ORGANIZATIONS, PROVIDED OVER TWO THOUSAND BIOMETRIC SCREENINGS AND HEALTH COACHING TO INDIVIDUALS IN AREAS TRADITIONALLY UNDERSERVED BY THE HEALTHCARE SYSTEM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kenneth Seda Assistant Director | 20 | $0 | |
Jessica Kelly Assistant Secretary | 0.15 | $0 | |
Scott R Lambert Assistant Treasurer | 0 | $0 | |
Tracy Labonte Chief Investment Officer | 0 | $0 | |
Geneva Brown Corporate Secretary | 0.03 | $0 | |
Eric P Palmer Director | 0.05 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $95,614 |
| Interest on Savings | $0 |
| Dividends & Interest | $4,377,792 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $3,610,831 |
| Capital Gain Net Income | $1,626,318 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $8,084,237 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $198,263 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $258,705 |
| Total operating and administrative expenses | $456,968 |
| Contributions, gifts, grants paid | $15,678,489 |
| Total expenses and disbursements | $16,135,457 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,052,462 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $1,104,988 |
| Total assets | $165,016,072 |
| Accounts payable and accrued expenses | $209,300 |
| Grants payable | $967,072 |
| 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 | $1,176,372 |
Grants Awarded
Over the last fiscal year, Cigna Foundation has awarded $16,204,643 in support to 3,327 organizations.
| Grant Recipient | Amount |
|---|---|
SCHOLARSHIP AMERICA INC PURPOSE: GENERAL OPERATING PURPOSES | $1,698,000 |
PARTNERSHIP FOR A HEALTHIER AMERICA INC PURPOSE: GENERAL OPERATING PURPOSES | $256,935 |
AMERICAN NATIONAL RED CROSS PURPOSE: GENERAL OPERATING PURPOSES | $242,653 |
AMERICAN HEART ASSOCIATION INC PURPOSE: GENERAL OPERATING PURPOSES | $225,000 |
CURATORS OF THE UNIVERSITY OF MISSOURI SPECIAL TR PURPOSE: GENERAL OPERATING PURPOSES | $201,050 |
AROGYA PURPOSE: GENERAL OPERATING PURPOSES | $126,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Cigna Foundation has recieved totaling $129,100.
| Awarding Organization | Amount |
|---|---|
David And Sherry Cordani Family Foundation West Hartford, CT PURPOSE: COSTS OF BIOMETRIC SCREENINGS AND RELATED EXPENSES ASSOCIATED WITH CIGNA FOUNDATION'S HEALTH PROGRAM | $129,100 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Central Pennsylvania Scholarship Fund Tyrone, PA | $42,508,819 | $45,167,381 |
Foundation For Advanced Education In The Sciences Inc Bethesda, MD | $54,757,501 | $41,367,941 |
Arcus Foundation New York, NY | $264,733,626 | $35,703,685 |
The Childrens Scholarship Fund New York, NY | $36,136,002 | $24,710,520 |
Math For America Inc New York, NY | $15,709,494 | $20,036,646 |
The Posse Foundation Inc New York, NY | $120,660,725 | $44,739,225 |
Inner-City Scholarship Fund Inc New York, NY | $115,829,957 | $24,751,034 |
Somerset Community Services Inc Marion Station, MD | $23,511,474 | $20,221,070 |
College Now Greater Cleveland Inc Cleveland, OH | $24,271,314 | $18,465,003 |
Joan And Irwin Jacobs Technion-Cornell Innovation Instit New York, NY | $205,040,861 | $18,316,542 |
Tikvah Fund New York, NY | $103,047,859 | $6,270,985 |
Cigna Foundation Philadelphia, PA | $165,016,072 | $8,084,237 |