The Edna Mcconnell Clark Foundation
- Assets
- $667.3m
- Revenue
- $41.3m
- Investments
- $653.3m
- Employees
- 0
- Location
- New York, NY
- Founding
- 12/1969
- Data as of
- 09/2020
- EIN
- 23-7047034
Organization Overview
The Edna Mcconnell Clark Foundation is located in New York, NY. The organization was established in 1969. According to its NTEE Classification (T21) the organization is classified as: Corporate 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. Edna Mcconnell Clark 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 09/2020, Edna Mcconnell Clark Foundation generated $41.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (28.0%) each year. All expenses for the organization totaled $456.4m during the year ending 09/2020. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Edna Mcconnell Clark Foundation has awarded 83 individual grants totaling $788,366,742. 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
EXPENSES FOR GRANTEE TECHNICAL ASSISTANCE IN THE AREAS OF PROGRAM MANAGEMENT, PROGRAM EVALUATION, AND COMMUNICATIONS ($27,037).COSTS ASSOCIATED WITH THE PERIODIC GATHERINGS WHICH EMPHASIZE PEER LEARNING AND ORGANIZATIONAL DEVELOPMENT FOR FOUNDATION GRANTEES' SENIOR TEAMS, BOARD MEMBERS, FOUNDATION STAKEHOLDERS AND GRANTEE COINVESTORS FOR THE PROPELNEXT PROGRAM ($1,154,000).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nancy Roob President & Trustee | 5 | $98,561 | |
Ralph Stefano Cfo/asst Treasurer/secretary | 5 | $58,616 | |
Mr H Lawrence Clark Chair | 4 | $0 | |
Mr James M Clark Jr Trustee, Treasurer | 4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Pacific Investment Management Co | 9/29/21 | $1,339,502 |
Investure Llc | 9/29/21 | $1,298,198 |
Bny Mellon | 9/29/21 | $226,697 |
Eric Brown Brownbridge Strategies | 9/29/21 | $110,000 |
Learning For Action | 9/29/21 | $1,111,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $600,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $15,604,311 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $25,133,025 |
| Capital Gain Net Income | $29,997,522 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,462 |
| Total Revenue | $41,338,798 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $636,893 |
| Other employee salaries and wages | $976,493 |
| Pension plans, employee benefits | $479,984 |
| Interest | $0 |
| Taxes | $1,498,260 |
| Depreciation | $0 |
| Occupancy | $246,450 |
| Travel, conferences, and meetings | $65,162 |
| Printing and publications | $0 |
| Other expenses | $128,378 |
| Total operating and administrative expenses | $6,550,348 |
| Contributions, gifts, grants paid | $449,811,628 |
| Total expenses and disbursements | $456,361,976 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $13,455,179 |
| 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 | $13,075 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $238,779,955 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $569,296 |
| Total assets | $667,303,729 |
| Accounts payable and accrued expenses | $595,120 |
| Grants payable | $307,478,517 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $640,075 |
| Total liabilities | $308,713,712 |
Grants Awarded
Over the last fiscal year, The Edna Mcconnell Clark Foundation has awarded $422,700,000 in support to 17 organizations.
| Grant Recipient | Amount |
|---|---|
New York, NY PURPOSE: ADVANCED GRANT PAYMENTS TO BMP FOR GRANTEES | $270,261,555 |
New York, NY PURPOSE: GRANT PAYMENTS TO BMP FOR GENERAL OPERATIONS | $58,534,445 |
New York, NY PURPOSE: 10 YEAR STRATEGIC PLAN SUPPORT | $30,000,000 |
Boston, MA PURPOSE: BRIDGESPAN INSTITUTE RESTRICTED FUND | $20,000,000 |
Denver, CO PURPOSE: FINAL GRANT TO NFP SUPPORTING PHASE II OF THE ORGANIZATION'S VISION TO SCALE PLAN. | $12,500,000 |
New York, NY PURPOSE: TO SUPPORT CEO'S CURRENT STRATEGIC PLAN | $6,000,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Edna Mcconnell Clark Foundation New York, NY | $667,303,729 | $41,338,798 |
The Jpb Foundation New York, NY | $3,112,143,645 | $422,930,172 |
Phillip And Susan Ragon Foundation Cambridge, MA | $62,348,069 | $1,628,724 |
Citi Foundation New York, NY | $102,040,475 | $125,193,055 |
Longwood Gardens Inc Kennett Square, PA | $1,437,882,296 | $93,650,257 |
Peoples United Community Foundation Bridgeport, CT | $0 | $2,660,856 |
Goldman Sachs Foundation New York, NY | $0 | $131,861,636 |
Commonwealth Fund New York, NY | $0 | $69,444,117 |
The Comcast Nbcuniversal Foundation Philadelphia, PA | $16,720,236 | $25,679,760 |
Clark Foundation New York, NY | $443,485,871 | $14,281,811 |
John A Hartford Foundation New York, NY | $722,012,839 | $47,164,108 |
Blackstone Charitable Foundation New York, NY | $141,651,293 | $22,568,243 |