Richard King Mellon Foundation Dtd 01-01-47
- Assets
- $2.6b
- Revenue
- $383.2m
- Investments
- $2.3b
- Employees
- 0
- Location
- Pittsburgh, PA
- Founding
- 02/1949
- Data as of
- 12/2021
- EIN
- 25-1127705
Organization Overview
Richard King Mellon Foundation Dtd 01-01-47 is located in Pittsburgh, PA. The organization was established in 1949. 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. Richard King Mellon Foundation Dtd 01-01-47 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, Richard King Mellon Foundation Dtd 01-01-47 generated $383.2m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 26.0% each year . All expenses for the organization totaled $172.1m during the year ending 12/2021. While expenses have increased by 8.2% per year over the past 4 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Richard King Mellon Foundation Dtd 01-01-47 has awarded 1,290 individual grants totaling $891,188,131. 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:
NONE
NONE
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sam Reiman Trustee/director | 38 | $595,643 | |
Douglas L Sisson Trustee/ Vp/ Treasurer | 22.5 | $530,297 | |
Tim Reeves Senior Communication | 38 | $354,883 | |
Lawrence S Busch Trustee/assistant Treasurer | 21 | $349,108 | |
Brian Hill Senior Program Offic | 38 | $303,308 | |
Edward Morgan Investments | 25 | $297,782 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
T Rowe Price | 12/30/21 | $2,698,795 |
Russell Investments | 12/30/21 | $1,939,080 |
Bny Mellon Na | 12/30/21 | $921,362 |
T Rowe Price | 12/30/21 | $2,698,795 |
Westwood Global Investments | 12/30/21 | $677,325 |
Axiom International Equity Fund | 12/30/21 | $650,065 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $88,975 |
| Dividends & Interest | $56,687,319 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $262,694,746 |
| Capital Gain Net Income | $263,589,971 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $63,743,966 |
| Total Revenue | $383,215,006 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $2,211,414 |
| Other employee salaries and wages | $2,373,039 |
| Pension plans, employee benefits | $1,363,022 |
| Interest | $0 |
| Taxes | $6,012,598 |
| Depreciation | $0 |
| Occupancy | $318,688 |
| Travel, conferences, and meetings | $55,977 |
| Printing and publications | $190,184 |
| Other expenses | $406,918 |
| Total operating and administrative expenses | $26,996,853 |
| Contributions, gifts, grants paid | $145,105,103 |
| Total expenses and disbursements | $172,101,956 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,624,929 |
| Savings and temporary cash investments | $167,997,324 |
| 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 | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $1,007,657,734 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $180,459,167 |
| Total assets | $2,648,950,543 |
| Accounts payable and accrued expenses | $1,502,200 |
| Grants payable | $224,580,952 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $180,624,356 |
| Total liabilities | $406,707,508 |
Grants Awarded
Over the last fiscal year, Richard King Mellon Foundation Dtd 01-01-47 has awarded $681,236,276 in support to 618 organizations.
| Grant Recipient | Amount |
|---|---|
CARNEGIE MELLON UNIVESITY PURPOSE: TOWARD TEN-YEAR SUPPORT OF CONSTRUCTION OF A NEW BUILDING FOR SCIENCES IN OAKLAND | $10,000,000 |
CARNEGIE MELLON UNIVESITY PURPOSE: TOWARD TEN-YEAR SUPPORT OF CONSTRUCTION OF A NEW BUILDING FOR SCIENCES IN OAKLAND | $10,000,000 |
CARNEGIE MELLON UNIVESITY PURPOSE: TOWARD TEN-YEAR SUPPORT OF CONSTRUCTION OF A NEW BUILDING FOR SCIENCES IN OAKLAND | $10,000,000 |
Pittsburgh, PA PURPOSE: TOWARD TEN-YEAR SUPPORT OF THE UNIVERSITY'S CONSTRUCTION AND LAUNCH OF A FACILITY AT HAZELWOOD GREEN TO CATALYZE AN ECONOMIC DEVELOPMENT STRATEGY FOCUSED ON BUILDING FACILITIES FOR MANUFACTURING CELL, GENE, AND ANTIBODY-BASED THERAPIES TO TREAT HUMAN DISEASES | $10,000,000 |
Pittsburgh, PA PURPOSE: TOWARD TEN-YEAR SUPPORT OF THE UNIVERSITY'S CONSTRUCTION AND LAUNCH OF A FACILITY AT HAZELWOOD GREEN TO CATALYZE AN ECONOMIC DEVELOPMENT STRATEGY FOCUSED ON BUILDING FACILITIES FOR MANUFACTURING CELL, GENE, AND ANTIBODY-BASED THERAPIES TO TREAT HUMAN DISEASES | $10,000,000 |
CARNEGIE MELLON UNIVESITY PURPOSE: TOWARD TEN-YEAR SUPPORT OF CONSTRUCTION OF A NEW BUILDING FOR SCIENCES IN OAKLAND | $10,000,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Robert Wood Johnson Foundation Princeton, NJ | $14,837,880,900 | $1,125,174,588 |
Rockefeller Foundation New York, NY | $7,467,445,865 | $704,223,491 |
Simons Foundation Inc New York, NY | $4,513,699,772 | $129,477,470 |
Bloomberg Family Foundation Inc New York, NY | $0 | $1,259,941,914 |
Leona M & Harry B Helmsley Charitable Trust New York, NY | $8,313,587,896 | $723,181,306 |
Jp Morgan Chase Foundation New York, NY | $675,856,149 | $488,434,024 |
Genzyme Charitable Foundation Inc Bridgewater, NJ | $0 | $207,296,108 |
Richard King Mellon Foundation Dtd 01-01-47 Pittsburgh, PA | $2,648,950,543 | $383,215,006 |
Doris Duke Charitable Foundation Inc New York, NY | $2,668,517,046 | $296,413,800 |
Shelby Cullom Davis Charitable Fund Inc Wilmington, DE | $2,798,959,665 | $325,311,650 |
Hillman Family Foundations Pittsburgh, PA | $2,323,141,190 | $264,701,739 |
William Penn Foundation Philadelphia, PA | $0 | $175,834,650 |