Tory Burch Foundation Inc
- Assets
- $17.4m
- Revenue
- $3.5m
- Investments
- $435.2k
- Employees
- 0
- Location
- New York, NY
- Founding
- 07/2009
- Data as of
- 09/2023
- EIN
- 26-3660127
Organization Overview
Tory Burch Foundation Inc is located in New York, NY. The organization was established in 2009. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tory Burch Foundation Inc 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 09/2023, Tory Burch Foundation Inc generated $3.5m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 14.9% each year . All expenses for the organization totaled $2.8m during the year ending 09/2023. While expenses have increased by 24.8% per year over the past 8 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 2015, Tory Burch Foundation Inc has awarded 18 individual grants totaling $3,902,645. 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
TO EMPOWER WOMEN ENTREPRENEURS BY PROVIDING ACCESS TO CAPITAL, EDUCATION AND COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CAPITAL:CAPITAL PROGRAM POWERED BY BANK OF AMERICATHE TORY BURCH FOUNDATION CAPITAL PROGRAM POWERED BY BANK OF AMERICA PROVIDES WOMEN ENTREPRENEURS IN THE UNITED STATES THE OPPORTUNITY TO ACCESS AFFORDABLE LOANS THROUGH COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS. THE LOANS ARE MADE TO WOMEN ENTREPRENEURS OPERATING EARLY-STAGE VENTURES IN ALL INDUSTRIES. [SEE SCHEDULE O FOR CONTINUATION]CAPITAL:WOMEN OF COLOR GRANT PROGRAMTHE WOMEN OF COLOR GRANT PROGRAM PROVIDES $10,000 AND $20,000 GRANTS TO WOMEN OF COLOR-OWNED BUSINESSES. THESE ENTREPRENEURS ALSO RECEIVE ACCESS TO EDUCATION AND COMMUNITY IN PARTNERSHIP WITH THE FEARLESS FUND. NESTTHE TORY BURCH FOUNDATION PARTNERSHIP WITH NEST PROVIDED REPAYABLE GRANTS TO WOMEN ARTISANS AND MAKERS IN SELECT CITIES IN THE U.S. AS OF FY23, THE FOUNDATION HAS SUPPORTED ARTISANS THROUGH THE NEST REVOLVING MAKER FUND SUPPORTED BY THE TORY BURCH FOUNDATION. THIS PROGRAM CONCLUDED IN JULY 2023.
EDUCATION PROGRAMS:SMALL BUSINESS WEBINARSAS A RESULT OF THE COVID-19 PANDEMIC, THE TORY BURCH FOUNDATION PIVOTED TO OFFER SMALL BUSINESS OWNERS CREDIBLE, QUALITY INFORMATION FOR FREE TO HELP THEM NAVIGATE THE CHANGING LANDSCAPE. STARTING IN APRIL 2020, THE FOUNDATION LAUNCHED A RECURRING SMALL BUSINESS WEBINAR SERIES TO PROVIDE THE MOST RELEVANT AND CURRENT INFORMATION FOR WOMEN BUSINESS OWNERS. THE SERIES IS MODERATED BY THE FOUNDATION TEAM AND FEATURES TOP EXPERTS. ADDITIONALLY, THE FOUNDATION CONTINUES TO PRODUCE FREE ARTICLES AND ONLINE TOOLS FOR OUR COMMUNITY IN ORDER TO ENSURE SMALL BUSINESS OWNERS HAVE THE RESOURCES THEY NEED TO SURVIVE AND SUSTAIN BEYOND THE PANDEMIC.DIGITAL RESOURCESTHE TORY BURCH FOUNDATION WEBSITE IS A DIGITAL EDUCATION HUB WITH COMPREHENSIVE AND TIMELY CONTENT FOR ENTREPRENEURS COVERING A RANGE OF BUSINESS TOPICS. THE DESTINATION FEATURES OVER 300+ ARTICLES AND ONLINE VIDEOS, AS WELL AS A BUSINESS PLAN BUILDER AND FUNDING FINDER TOOL. THERE IS ALSO A DONATION PORTAL FOR THE PUBLIC AT WWW.TORYBURCHFOUNDATION.ORG/DONATE.
FELLOWSHIPS:FELLOWS PROGRAMTHE TORY BURCH FOUNDATION FELLOWS PROGRAM IS A NATIONAL PROGRAM FOR EARLY-STAGE WOMEN ENTREPRENEURS. WOMEN ENTREPRENEURS FROM ACROSS THE UNITED STATES SUBMIT APPLICATIONS ONLINE. 50 WOMEN ENTREPRENEURS ARE SELECTED ANNUALLY. EACH FELLOW RECEIVES ONE-YEAR OF VIRTUAL EDUCATION PROGRAMMING, WORKSHOPS AND BUSINESS GUIDANCE, A $5,000 GRANT FOR BUSINESS EDUCATION, AND ACCESS TO THE FOUNDATION'S PRIVATE ONLINE PEER COMMUNITY OF FELLOWS. IN NOVEMBER 2020, THE FOUNDATION LAUNCHED AN EXCLUSIVE LOAN PROGRAM IN PARTNERSHIP WITH KIVA TO PROVIDE NO-INTEREST LOANS FOR WORKING CAPITAL NEEDS.FELLOWSHIPS:IGI FELLOWSHIPIN NOVEMBER 2020, THE TORY BURCH FOUNDATION LAUNCHED THE TORY BURCH FELLOWSHIP IN PARTNERSHIP WITH THE INNOVATIVE GENOMICS INSTITUTE (IGI). ONE WOMAN SCIENCE ENTREPRENEUR WAS CHOSEN TO BE EMBEDDED AT IGI FOR ONE YEAR WITH THE USE OF THEIR LABS AND THEIR STAFF AS MENTORS. THESE ENTREPRENEURS ALSO HAD THE OPTION OF JOINING THE TBF FELLOWS COMMUNITY AND WERE GIVEN ACCESS TO ALL TBF PROGRAMMING. THIS PROGRAM CONCLUDED IN SEPTEMBER 2023.VFILESIN MAY 2022, THE TORY BURCH FOUNDATION LAUNCHED A PARTNERSHIP WITH VFILES TO SUPPORT A VFILES LAB ENTREPRENEUR THROUGH THE TORY BURCH FOUNDATION FELLOWS PROGRAM. THE VFILES FOUNDATION IS A 501(C)(3) ORGANIZATION WITH THE MISSION TO INCREASE BUSINESS OWNERSHIP FOR CREATORS IN UNDERREPRESENTED COMMUNITIES (BIPOC, WOMEN, LGBTQ+). THE VFILES FOUNDATION PROVIDES SEED GRANTS, MENTORSHIP, AND SOFT SKILLS TRAINING THROUGH ITS FLAGSHIP PROGRAM, VFILES LAB. ONE ENTREPRENEUR WAS CHOSEN TO PARTICIPATE IN THE TBF FELLOWS COMMUNITY AND WAS GIVEN ACCESS TO ALL THE TBF PROGRAMMING. THIS PROGRAM CONCLUDED IN JUNE 2023.BILLIE JEAN KING SPORTS FELLOWSHIPIN APRIL 2023, THE TORY BURCH FOUNDATION LAUNCHED A PARTNERSHIP WITH THE BILLIE JEAN KING CUP AND THE INTERNATIONAL TENNIS FEDERATION TO SUPPORT WOMEN ENTREPRENEURS IN THE SPORTS INDUSTRY THROUGH THE TORY BURCH FOUNDATION FELLOWS PROGRAM. THIS ENTREPRENEUR WAS ALSO GIVEN ADDITIONAL RESOURCES AND SUPPORT FROM LEADERS IN THE SPORTS INDUSTRY.
CAMPAIGNS AND EVENTS:SEED BOXES THE TORY BURCH FOUNDATION CURATES A SELECTION OF PRODUCTS MADE BY WOMEN OWNED BUSINESSES INTO ONE SEASONAL GIFT BOX. DESIGNED TO HELP PROMOTE THE FEATURED FOUNDERS' BRANDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tory Burch Founder And Director | OfficerTrustee | 3 | $0 |
Robert Isen Chair | OfficerTrustee | 3 | $0 |
Reepal Shah Treasurer | OfficerTrustee | 2 | $0 |
James Robinson Secretary | OfficerTrustee | 2 | $0 |
Hayley Boesky Director | Trustee | 1 | $0 |
Susan Duffy Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Redrock Entertainment Services Event Management Services | 9/29/23 | $254,525 |
Grow Information Technology Services | 9/29/23 | $205,014 |
Great Performances Catering Services | 9/29/23 | $176,205 |
4wall Entertainment Inc Audio/visual Services | 9/29/23 | $166,389 |
Vimeo Inc Video Hosting Services | 9/29/23 | $102,928 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,998,588 |
| Noncash contributions included in lines 1a–1f | $50,022 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,998,588 |
| Total Program Service Revenue | $0 |
| Investment income | $543,488 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$11,487 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,530,589 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,160,000 |
| Grants and other assistance to domestic individuals. | $216,873 |
| Grants and other assistance to Foreign Orgs/Individuals | $200,000 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $94,508 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $11,287 |
| Fees for services: Other | $13,354 |
| Advertising and promotion | $288,078 |
| Office expenses | $19,224 |
| Information technology | $40,000 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $116,047 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $202,962 |
| Insurance | $8,918 |
| All other expenses | $0 |
| Total functional expenses | $2,805,384 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $142,831 |
| Savings and temporary cash investments | $11,774,396 |
| Pledges and grants receivable | $1,802,585 |
| Accounts receivable, net | $0 |
| 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 | $59,091 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $2,531,806 |
| Investments—other securities | $435,244 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $624,854 |
| Total assets | $17,370,807 |
| Accounts payable and accrued expenses | $23,192 |
| Grants payable | $137,804 |
| Deferred revenue | $54,400 |
| 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 | $0 |
| Total liabilities | $215,396 |
| Net assets without donor restrictions | $17,155,411 |
| Net assets with donor restrictions | $0 |
| 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 | $17,370,807 |
Grants Awarded
Over the last fiscal year, Tory Burch Foundation Inc has awarded $1,160,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
DOLORES C HUERTA FOUNDATION PURPOSE: TO SUPPORT THE ORGANIZATION'S NEIGHBORS UNITED PROGRAM. | $10,000 |
FEARLESS FOUNDATION PURPOSE: TO SUPPORT THE ORGANIZATION'S GRANT PROGRAM TO SMALL BUSINESSES OWNED AND LED BY WOMEN OF COLOR. | $1,150,000 |