Avanessians Foundation
- Assets
- $61.0m
- Revenue
- $14.5m
- Investments
- $54.1m
- Employees
- 0
- Location
- New York, NY
- Founding
- 11/2009
- Data as of
- 12/2021
- EIN
- 26-6671956
Organization Overview
Avanessians Foundation is located in New York, NY. The organization was established in 2009. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Avanessians 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, Avanessians Foundation generated $14.5m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 41.9% each year . All expenses for the organization totaled $2.2m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION IS NOT INVOLVED IN ANY DIRECT CHARITABLE ACTIVITIES. ITS PRIMARY PURPOSE IS TO SUPPORT, BY CONTRIBUTIONS, OTHER CHARITABLE ORGANIZATIONS EXEMPT UNDER
INTERNAL REVENUE CODE SECTION 501(C)(3).
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PDF Copies of 990 Filings
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $4,005,838 |
| Interest on Savings | $2,816 |
| Dividends & Interest | $3,879,743 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $6,650,219 |
| Capital Gain Net Income | $6,650,219 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $14,538,616 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $28,796 |
| Taxes | $124,441 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $21,382 |
| Total operating and administrative expenses | $174,619 |
| Contributions, gifts, grants paid | $2,055,026 |
| Total expenses and disbursements | $2,229,645 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $6,971,460 |
| 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 | $5,231,766 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $61,040,857 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Avanessians Foundation has awarded $2,055,026 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
GOLDMAN SACHS GIVES PURPOSE: FOR GENERAL CHARITABLE PURPOSES ONLY | $2,050,026 |
New York, NY PURPOSE: FOR GENERAL CHARITABLE PURPOSES ONLY | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Redhill Foundation-Sam And Jean Rothberg Family Charitable Trust New York, NY | $42,979,654 | $7,387,635 |
Stadler Family Charitable Foundation Inc Titusville, NJ | $29,757,304 | $26,067,204 |
Robert W Wilson Charitable Tr New York, NY | $246,803,641 | $15,248,568 |
The Zegar Family Foundation New York, NY | $255,794,688 | $35,430,517 |
Lenfest Foundation Inc Philadelphia, PA | $0 | $560,962 |
The Blackrock Charitable Foundation New York, NY | $304,949,202 | $10,722,340 |
High Meadows Foundation Boston, MA | $7,499,132 | $11,021,494 |
Zankel Fund New York, NY | $8,426,526 | $6,600,017 |
Synchrony Foundation Stamford, CT | $74,474,766 | $12,637,293 |
Gavin Foundation Inc South Boston, MA | $19,688,054 | $21,343,242 |
Jp Fletcher Foundation Inc Cambridge, MA | $29,829,221 | -$3,521,275 |
Estee Lauder Companies Charitable Foundation New York, NY | $35,974,866 | $21,957,506 |