Claude Worthington Benedum Foundation
- Assets
- $482.6m
- Revenue
- $11.8m
- Investments
- $462.3m
- Employees
- 0
- Location
- Pittsburgh, PA
- Founding
- 03/1946
- Data as of
- 12/2021
- EIN
- 25-1086799
Organization Overview
Claude Worthington Benedum Foundation is located in Pittsburgh, PA. The organization was established in 1946. 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. Claude Worthington Benedum 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, Claude Worthington Benedum Foundation generated $11.8m 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 (11.6%) each year. All expenses for the organization totaled $20.1m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Claude Worthington Benedum Foundation has awarded 332 individual grants totaling $35,154,342. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
SEE GENERAL EXPLANATION STATEMENT 16
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jennifer Giovannitti President (4)(6) | 40 | $376,229 | |
Mary Hunt Program Director | 40 | $181,590 | |
Kimberly Tieman Program Director | 40 | $176,989 | |
James V Denova Vice President (4)(6) (1/1/21-6/30/21) | 40 | $114,086 | |
Sandra H Harvey Secretary (4)(6) | 40 | $101,624 | |
Brad R Ballantine Treasurer & Senior Accountant (4)(6) | 40 | $92,400 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Leeds Novamark Capital | 12/30/21 | $497,359 |
Perella Weinberg Partners | 12/30/21 | $343,400 |
Pkf O'connor Davies | 12/30/21 | $100,000 |
Yorktown Energy Partners | 12/30/21 | $54,795 |
Sisterson & Co Llp | 12/30/21 | $52,328 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $2,371 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $10,912,128 |
| Capital Gain Net Income | $36,165,244 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $837,692 |
| Total Revenue | $11,752,191 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $852,339 |
| Other employee salaries and wages | $618,028 |
| Pension plans, employee benefits | $327,991 |
| Interest | $0 |
| Taxes | $542,908 |
| Depreciation | $82,084 |
| Occupancy | $65,160 |
| Travel, conferences, and meetings | $56,970 |
| Printing and publications | $2,591 |
| Other expenses | $269,918 |
| Total operating and administrative expenses | $4,076,265 |
| Contributions, gifts, grants paid | $16,051,964 |
| Total expenses and disbursements | $20,128,229 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $9,143,929 |
| Net Accounts receivable | $90,695 |
| 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 | $462,323,976 |
| Net Land, buildings, and equipment | $1,137,754 |
| Other assets | $9,904,269 |
| Total assets | $482,600,623 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $3,461,940 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $22,950 |
| Total liabilities | $3,484,890 |
Grants Awarded
Over the last fiscal year, Claude Worthington Benedum Foundation has awarded $18,046,035 in support to 159 organizations.
| Grant Recipient | Amount |
|---|---|
CAMC HEALTH EDUCATION AND RESEARCH INSTITUTE INC (DBA CAMC INSTITUTE) PURPOSE: TO INTEGRATE OBESITY PREVENTION INITIATIVES WITH THE EARLY CHILDHOOD PLANNING TASK FORCE RECOMMENDATIONS TO IMPLEMENT SYSTEMS LEVEL CHANGE FOR EARLY CHILDCARE EDUCATION PROGRAMS ACROSS WEST VIRGINIA (OVER TWO YEARS) | $500,000 |
Pittsburgh, PA PURPOSE: FOR THE REFURBISHMENT OF THE BENEDUM AND STANLEY MARQUEES (OVER TWO YEARS) | $500,000 |
Pittsburgh, PA PURPOSE: FOR THE REFURBISHMENT OF THE BENEDUM AND STANLEY MARQUEES (OVER TWO YEARS) | $500,000 |
Morgantown, WV PURPOSE: FOR CONTINUATION OF A MULTI-PHASE PROJECT THAT WILL IDENTIFY, SUPPORT, AND FUND EARLY LITERACY PROJECT PROPOSALS DESIGNED TO IMPROVE READING LEVELS OF YOUNG CHILDREN ACROSS WEST VIRGINIA | $400,000 |
Morgantown, WV PURPOSE: TO SUPPORT A SET OF DEMONSTRATION PROJECTS DESIGNED TO IMPROVE READING LEVELS OF HIGH-RISK YOUNG CHILDREN | $400,000 |
Wheeling, WV PURPOSE: TO DEVELOP THREE FOOD AND AGRICULTURE ENTERPRISES WHICH PRODUCE ECONOMIC AND COMMUNITY IMPROVEMENTS AND ADVANCE ENDOWMENT DEVELOPMENT TO ACHIEVE ORGANIZATIONAL SUSTAINABILITY | $381,052 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Claude Worthington Benedum Foundation has recieved totaling $2,000,000.
| Awarding Organization | Amount |
|---|---|
Robert Wood Johnson Foundation Princeton, NJ PURPOSE: 77547 PROVIDING EMERGENCY ASSISTANCE DURING THE CO | $1,000,000 |
Robert Wood Johnson Foundation Princeton, NJ PURPOSE: 77547 PROVIDING EMERGENCY ASSISTANCE DURING THE CO | $1,000,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Arnhold Foundation Inc New York, NY | $497,481,101 | $53,665,580 |
Prudential Foundation Inc Newark, NJ | $137,651,624 | $53,115,847 |
The Grace And Mercy Foundation Inc New York, NY | $617,102,449 | $100,220,039 |
Peter G Peterson Foundation New York, NY | $1,055,700,983 | $50,280,779 |
Leon Levy Foundation New York, NY | $614,122,389 | $121,596,253 |
Shubert Foundation Inc New York, NY | $671,108,588 | $57,657,953 |
J Howard Pew Freedom Tr Philadelphia, PA | $675,828,558 | $64,346,772 |
J Willard And Alice S Marriott Foundation Bethesda, MD | $441,340,618 | $31,840,539 |
Mccune Foundation Pittsburgh, PA | $180,488,577 | $38,182,239 |
Aurora Foundation Wilmington, DE | $762,186,529 | $34,829,057 |
Hauser Foundation Inc New York, NY | $0 | $9,971,722 |
Pinkerton Foundation New York, NY | $0 | $34,479,499 |