Arete Foundation
- Assets
- $69.7m
- Revenue
- $5.9m
- Investments
- $59.0m
- Employees
- 0
- Location
- Philadelphia, PA
- Founding
- 07/1986
- Data as of
- 11/2020
- EIN
- 23-6779271
Organization Overview
Arete Foundation is located in Philadelphia, PA. 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. Arete Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Since 2020, Arete Foundation has awarded 68 individual grants totaling $17,212,363. 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
2020
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONTRIBUTIONS TO TAX EXEMPT EDUCATIONAL ORGANIZATIONS (23)
CONTRIBUTIONS TO TAX EXEMPT CHARITABLE ORGANIZATIONS (21)
CONTRIBUTIONS TO TAX EXEMPT RELIGIOUS ORGANIZATIONS (3)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sue Taylor Executive Director, | 30 | $135,154 | |
Jeffrey Brotman Vice-President, As R | 10 | $112,179 | |
Corey Cannon Chief Financial Offi | 30 | $107,769 | |
Edward E Cohen Trustee, As Required | 0 | $0 | |
Betsy Z Cohen Trustee, As Required | 0 | $0 | |
Jonathan Z Cohen Trustee, As Required | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $3,026,000 |
| Interest on Savings | $15,979 |
| Dividends & Interest | $1,032,449 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,852,686 |
| Capital Gain Net Income | $780,335 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $5,927,114 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $330,942 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $59,390 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,948,857 |
| Total operating and administrative expenses | $2,664,846 |
| Contributions, gifts, grants paid | $6,488,799 |
| Total expenses and disbursements | $9,153,645 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $428,834 |
| Savings and temporary cash investments | $10,053,443 |
| Net Accounts receivable | $252,004 |
| 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 | $6,581 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $35,834,857 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $69,704,325 |
| Accounts payable and accrued expenses | $35,946 |
| Grants payable | $8,131,666 |
| 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 | $8,167,612 |
Grants Awarded
Over the last fiscal year, Arete Foundation has awarded $7,239,136 in support to 29 organizations.
| Grant Recipient | Amount |
|---|---|
New York, NY PURPOSE: CHARITABLESUPPORT FOR PHASE III CAMPAIGN FOR THE MET: SECURING THE FUTURE; FY 21 UNRESTRICTED GIFT; MET STARS CONCERT | $1,465,000 |
VARIOUS PURPOSE: VARIOUS | $1,262,610 |
New York, NY PURPOSE: CHARITABLESUPPORT FOR ASIA GAME CHANGERS FY 2020; SUPPORT FOR DANNIEL RUSSELL WORK; SUPPORT FOR ABIGAIL COHEN FELLOWSHIP IN DOCUMENTARY PHOTOGRAPHY; SUPPORT FOR HONG KONG 30TH ANNIVERSARY VIRTUAL GALA | $852,880 |
COLUMBIA UNIVERSITY OFFICE OF GLOBAL INITATIVES PURPOSE: EDUCATIONALENDOW ARETE FOUDNATION FELLOWSHIP FUND AND UNRESTRICTED GIFT | $600,000 |
Princeton, NJ PURPOSE: EDUCATIONALSUPPORT FOR GALA 2020, FELLOWSHIP PROGRAM AND LORING HALL RENOVATION PROJECT | $358,333 |
UNIVERSITY OF PENNSYLVANIA PURPOSE: EDUCATIONALSUPPORT FOR ARETE GORDON EXPEDITION FUND; PENN LECTURES WORLD TERM FUND ADN WORLD ENDOWED FUND | $300,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
John R Oishei Foundation Buffalo, NY | $294,151,477 | $18,357,929 |
Lor Foundation Inc West Chester, PA | $352,392,197 | $12,888,892 |
Grable Foundation Pittsburgh, PA | $386,701,292 | $35,946,563 |
Connelly Foundation West Conshohocken, PA | $387,913,026 | $27,891,431 |
The Abell Foundation Inc Baltimore, MD | $398,354,670 | $42,510,470 |
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 |
Fred F Silk Charitable Foundation Louisville, OH | $0 | $2,703,630 |