Claude Worthington Benedum Foundation
- Assets
- $433.7m
- Revenue
- $5.5m
- Investments
- $413.2m
- Employees
- 0
- Location
- Pittsburgh, PA
- Founding
- 03/1946
- Data as of
- 12/2023
- 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 12/2023, Claude Worthington Benedum Foundation generated $5.5m in total revenue. The organization has seen a slow decline revenue. Over the past 4 years, revenues have fallen by an average of (2.3%) each year. All expenses for the organization totaled $18.8m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (0.2%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Claude Worthington Benedum Foundation has awarded 729 individual grants totaling $70,854,222. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE GENERAL EXPLANATION STATEMENT 17
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gregory S Babe Trustee (1)(2) | 1.5 | $14,000 | |
Paul G Benedum Jr Trustee (1)(2) | 1.5 | $2,000 | |
Thomas A Heywood Trustee (1)(2) | 1.5 | $20,000 | |
Lloyd Jackson II Trustee, Chairman (2)(3) | 3 | $20,000 | |
Parween S Mascari Trustee (1)(2) | 1.5 | $16,000 | |
Illah R Nourbaksh Trustee (1)(2) | 1.5 | $16,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Perella Weinberg Partners | 12/30/23 | $252,934 |
Axiom Asia Private Capital | 12/30/23 | $123,896 |
Pkf O'connor Davies | 12/30/23 | $106,000 |
North Haven Private Equity | 12/30/23 | $103,782 |
Rcp Advisors | 12/30/23 | $67,032 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $327,701 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $3,764,069 |
| Capital Gain Net Income | $8,672,444 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,361,579 |
| Total Revenue | $5,453,349 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $948,732 |
| Other employee salaries and wages | $386,756 |
| Pension plans, employee benefits | $317,986 |
| Interest | $0 |
| Taxes | $329,623 |
| Depreciation | $79,099 |
| Occupancy | $66,960 |
| Travel, conferences, and meetings | $107,745 |
| Printing and publications | $2,204 |
| Other expenses | $273,263 |
| Total operating and administrative expenses | $3,411,618 |
| Contributions, gifts, grants paid | $15,343,808 |
| Total expenses and disbursements | $18,755,426 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $7,023,721 |
| Net Accounts receivable | $1,047,691 |
| 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 | $413,243,489 |
| Net Land, buildings, and equipment | $996,064 |
| Other assets | $11,423,299 |
| Total assets | $433,734,264 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $2,454,966 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $2,782 |
| Total liabilities | $2,457,748 |
Grants Awarded
Over the last fiscal year, Claude Worthington Benedum Foundation has awarded $17,571,730 in support to 207 organizations.
| Grant Recipient | Amount |
|---|---|
ACES COALITION OF WV INC PURPOSE: TO EDUCATE THE COMMUNITY, HEALTHCARE PROVIDERS, YOUTH, AND PARENTS ON WHAT ADVERSE CHILDHOOD EXPERIENCES ARE AND HOW TO BUILD RESILIENT BEHAVIORS | $130,000 |
ADVANCING ACADEMICS PURPOSE: FOR A COACHING PROGRAM THAT HELPS LOW-INCOME STUDENTS GAIN COLLEGE ADMISSION AND PERSIST THROUGH GRADUATION | $40,000 |
ALDERSON BROADDUS UNIVERSITY PURPOSE: TO RETAIN A CONSULTANT TO EXPLORE VIABLE ALTERNATIVE FUTURE OPPORTUNITIES FOR SUSTAINABILITY INCLUDING AFFILIATIONS, PARTNERSHIP, FEDERATIONS, AND MERGERS | $15,000 |
ALLEGHENY CONFERENCE ON COMMUNITY DEVELOPMENT PURPOSE: TO ADVANCE THE ALLEGHENY CONFERENCES 10-YEAR VISION, 2020-2030 NEXT IS NOW, FOR CREATING A VITAL, GLOBALLY COMPETITIVE SOUTHWESTERN PENNSYLVANIA REGION WITH OPPORTUNITIES FOR ALL | $175,000 |
ALLEGHENY COUNTY AIRPORT AUTHORITY CHARITABLE FOUNDATION PURPOSE: TO CREATE A QUALITY CHILDCARE CENTER AT PITTSBURGH INTERNATIONAL AIRPORT FOCUSED ON REDUCING THE BARRIERS THAT EXIST TO WOMEN AND PEOPLE OF COLOR, IN UNDERSERVED COMMUNITIES, CREATING BETTER ACCESS TO THOUSANDS OF AIRPORT JOBS (OVER TWO YEARS) | $100,000 |
ALLEGHENY COUNTY AIRPORT AUTHORITY CHARITABLE FOUNDATION PURPOSE: FOR THE PITTSBURGH INTERNATIONAL AIRPORT TO CONDUCT A SIX-MONTH RETAIL PILOT IN THE AIRSIDE TERMINAL TO BRING AWARENESS TO WEST VIRGINIA-BASED PRODUCTS BY WORKING WITH WEST VIRGINIA-BASED VENDORS, NONPROFITS, AND OTHER PARTNERS | $86,000 |