Pittsburgh Foundation
- Assets
- $1.4b
- Revenue
- $80.3m
- Investments
- $377.3m
- Employees
- 84
- Location
- Pittsburgh, PA
- Founding
- 11/1994
- Data as of
- 12/2023
- EIN
- 25-0965466
Organization Overview
Pittsburgh Foundation is located in Pittsburgh, PA. The organization was established in 1994. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2023, Pittsburgh Foundation employed 84 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pittsburgh 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 12/2023, Pittsburgh Foundation generated $80.3m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of 0.0% each year. All expenses for the organization totaled $80.8m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Pittsburgh Foundation has awarded 9,749 individual grants totaling $478,080,657. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE PITTSBURGH FOUNDATION WORKS TO IMPROVE THE QUALITY OF LIFE IN THE PITTSBURGH REGION SEE SCH O BY EVALUATING AND ADDRESSING COMMUNITY ISSUES, PROMOTING RESPONSIBLE PHILANTHROPY, AND CONNECTING DONORS TO THE CRITICAL NEEDS OF THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DONOR-ADVISED PROGRAM: WITH MORE THAN 1,200 DONOR-ADVISED FUNDS, THE FOUNDATION'S DONOR-ADVISED PROGRAM PROVIDES FUNDING TO NONPROFIT ORGANIZATIONS THROUGH GRANTS MADE FROM DONOR-ADVISED AND COMMITTEE-ADVISED FUNDS. GRANTS ARE RECOMMENDED BY FUND HOLDERS, WITH OVERSIGHT BY FOUNDATION STAFF AND APPROVAL BY THE BOARD OF DIRECTORS.
OTHER GRANT-MAKING PROGRAMS: THE FOUNDATION MANAGES VARIOUS OTHER PROGRAMS, INCLUDING: A SCHOLARSHIP PROGRAM THAT PROVIDES STUDENTS ACCESS TO HUNDREDS OF SCHOLARSHIP OPPORTUNITIES BASED ON CRITERIA ESTABLISHED BY THE FOUNDATION AND THAT ALIGNS WITH THE DONOR'S PHILANTHROPIC GOALS; AGENCY ENDOWMENTS ESTABLISHED BY NONPROFIT ORGANIZATIONS; ADMINISTERING VARIOUS SUPPORTING ORGANIZATIONS; AND SUPPORTING OTHER COMMUNITY NEEDS PROGRAMS. THE FOUNDATION ALSO PROVIDES OPERATING SUPPORT TO ITS SUPPORTING ORGANIZATIONS.
COMPETITIVE GRANT-MAKING PROGRAM: THE FOUNDATION'S COMPETITIVE GRANT-MAKING PROGRAM AWARDS GRANTS MADE THROUGH UNRESTRICTED FUNDS AND FIELD-OF-INTEREST FUNDS THAT ALIGN WITH THE DONOR'S INTENT. WITH UNRESTRICTED AWARDS, FOUNDATION STAFF DETERMINES USE OF THESE FUNDS BY STRIVING TO MATCH DONORS' PHILANTHROPIC GOALS WITH THE COMMUNITY'S MOST PRESSING CHARITABLE NEEDS. WITH FIELD-OF-INTEREST GRANTS, STAFF DETERMINE COMPETITIVE GRANT CRITERIA BASED ON NAMED AREAS OF INTEREST, SUCH AS THE ARTS, EDUCATION, ECONOMIC DEVELOPMENT, ETC.
DONOR-DESIGNATED GRANT-MAKING PROGRAM: THE FOUNDATION'S DESIGNATED GRANT-MAKING PROGRAM ALLOWS DONORS TO CREATE FUNDS THROUGH WHICH THEY SPECIFY ELIGIBLE NONPROFIT ORGANIZATIONS TO RECEIVE ANNUAL GRANTS IN PERPETUITY, ADMINISTERED BY FOUNDATION STAFF.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marc Cherna Director | Trustee | 1 | $0 |
Deborah Demchak Director | Trustee | 1 | $0 |
Laura Ellsworth Director | Trustee | 1 | $0 |
William Generett Jr Director | Trustee | 1 | $0 |
Rev Glenn Grayson Director | Trustee | 1 | $0 |
David Lewis Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bny Mellon Bank Investment Fees | 12/30/23 | $1,328,603 |
Pnc Bank Investment Fees | 12/30/23 | $891,730 |
Hr&a Advisors Inc Community Impact | 12/30/23 | $500,000 |
Merrill Lynch Investment Fees | 12/30/23 | $386,757 |
Mercer Investments Investment Fees | 12/30/23 | $295,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $31,863 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $3,364,573 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $37,352,701 |
| Noncash contributions included in lines 1a–1f | $8,576,945 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $40,749,137 |
| Total Program Service Revenue | $743,511 |
| Investment income | $25,962,911 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $12,815,853 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $80,275,888 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $57,979,594 |
| Grants and other assistance to domestic individuals. | $1,451,580 |
| Grants and other assistance to Foreign Orgs/Individuals | $10,000 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,812,391 |
| Compensation of current officers, directors, key employees. | $659,586 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,470,391 |
| Pension plan accruals and contributions | $415,206 |
| Other employee benefits | $1,205,382 |
| Payroll taxes | $464,458 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $172,984 |
| Fees for services: Accounting | $139,431 |
| Fees for services: Lobbying | $105,100 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,886,421 |
| Fees for services: Other | $1,892,864 |
| Advertising and promotion | $983,375 |
| Office expenses | $134,471 |
| Information technology | $826,000 |
| Royalties | $0 |
| Occupancy | $718,928 |
| Travel | $181,227 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $174,831 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $105,702 |
| Insurance | $337,947 |
| All other expenses | $0 |
| Total functional expenses | $80,771,324 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $87,265,134 |
| Savings and temporary cash investments | $4,055,468 |
| Pledges and grants receivable | $75,693,990 |
| Accounts receivable, net | $2,582,249 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $266,164 |
| Net Land, buildings, and equipment | $819,970 |
| Investments—publicly traded securities | $849,438,348 |
| Investments—other securities | $377,255,264 |
| Investments—program-related | $3,278,971 |
| Intangible assets | $0 |
| Other assets | $648,386 |
| Total assets | $1,401,303,944 |
| Accounts payable and accrued expenses | $18,484,438 |
| Grants payable | $8,270,878 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $50,701,985 |
| Total liabilities | $77,457,301 |
| Net assets without donor restrictions | $62,116,825 |
| Net assets with donor restrictions | $1,261,729,818 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,401,303,944 |
Grants Awarded
Over the last fiscal year, Pittsburgh Foundation has awarded $55,091,805 in support to 1,057 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF PITTSBURGH PURPOSE: EDUCATION | $3,495,173 |
SCHOLARSHIP AMERICA INC PURPOSE: SCHOLARSHIPS | $1,642,330 |
THE PITTSBURGH PROMISE PURPOSE: SCHOLARSHIPS AND STUDENT FINANCIAL AID | $954,904 |
PITTSBURGH THEOLOGICAL SEMINARY PURPOSE: EDUCATION | $762,592 |
UNITED WAY OF SOUTHWESTERN PA PURPOSE: HUMAN SERVICES | $686,357 |
CARNEGIE MUSEUMS OF PITTSBURGH PURPOSE: MUSEUMS | $606,595 |