Prometheus Foundation
- Assets
- $87.8m
- Revenue
- $12.7m
- Investments
- $79.0m
- Employees
- 0
- Location
- Crystal Bay, NV
- Founding
- 09/2010
- Data as of
- 12/2020
- EIN
- 27-1456655
Organization Overview
Prometheus Foundation is located in Crystal Bay, NV. The organization was established in 2010. 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. Prometheus 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 12/2020, Prometheus Foundation generated $12.7m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 38.4% each year . All expenses for the organization totaled $2.6m during the year ending 12/2020. While expenses have increased by 11.8% per year over the past 6 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 2014, Prometheus Foundation has awarded 140 individual grants totaling $22,410,817. 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
2020
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMETHEUS FOUNDATION FUNDS ORGANIZATIONS AND INDIVIDUALS WHO DEMONSTRATE THAT THEY CAN USE FUNDS TO PROMOTE AYN RAND AND ADVANCE OBJECTIVISM INTELLIGENTLY AND EFFECTIVELY. THE FOUNDATION HAS THREE FUNDING PROGRAMS: THE OBJECTIVIST VENTURE FUND, THE SCHOLARSHIPS PROGRAM, AND THE NEW INTELLECTUALS FUND.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Craig Biddle Director | 20 | $50,000 | |
C Bradley Thompson Director | 0.5 | $2,000 | |
Leonard Esmond Director & Treasurer | 0.5 | $2,000 | |
David Hardy Director & Chairman | 0.5 | $2,000 | |
Rony Miller Director & Secretary | 0.5 | $1,000 | |
Carl B Barney Director & Founder | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Annie Vinther Sanz | 12/30/21 | $73,881 |
Esmond And Associates Inc | 12/30/21 | $98,338 |
Rbc Capital Markets Llc | 12/30/21 | $61,593 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $444,423 |
| Dividends & Interest | $1,003,226 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $7,787,123 |
| Capital Gain Net Income | $7,683,554 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $3,453,793 |
| Total Revenue | $12,688,565 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $54,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $184,044 |
| Taxes | $686,165 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $41,746 |
| Printing and publications | $0 |
| Other expenses | $198,021 |
| Total operating and administrative expenses | $1,328,994 |
| Contributions, gifts, grants paid | $1,246,638 |
| Total expenses and disbursements | $2,575,632 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $8,579,292 |
| 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 | $225,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $87,847,427 |
| Accounts payable and accrued expenses | $500 |
| Grants payable | $1,424,552 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $16,580,936 |
| Total liabilities | $18,005,988 |
Grants Awarded
Over the last fiscal year, Prometheus Foundation has awarded $2,156,156 in support to 25 organizations.
| Grant Recipient | Amount |
|---|---|
STUDENTS FOR LIBERTY PURPOSE: EDUCATION | $732,735 |
BOAZ JOSEF ARAD PURPOSE: EDUCATION | $325,000 |
OBJECTIVE STANDARD INSTITUTE INC PURPOSE: EDUCATION | $249,000 |
NOVEL PHILOSPHY DMCC PURPOSE: EDUCATION | $172,948 |
Sherman Oaks, CA PURPOSE: EDUCATION | $100,000 |
AYN RAND CENTRE UKRAINE PURPOSE: EDUCATION | $98,700 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Mimi And Peter Haas Fund San Francisco, CA | $0 | $22,825,724 |
William K Bowes Jr Foundation San Francisco, CA | $0 | $15,233,813 |
Collins Foundation Portland, OR | $249,591,840 | $5,256,313 |
Walter And Elise Haas Fund San Francisco, CA | $290,773,419 | $45,613,238 |
Lisa And Douglas Goldman Fund San Francisco, CA | $314,443,125 | $25,968,602 |
Wood-Claeyssens Foundation Santa Barbara, CA | $112,450,224 | $19,490,467 |
The Saban Family Foundation Los Angeles, CA | $4,126,107 | $4,076,196 |
Freeport-Mcmoran Copper & Gold Foundation Phoenix, AZ | $2,326,146 | $18,600,000 |
California Winegrowers Foundation Napa, CA | $3,681,527 | $16,676,626 |
Multi-Union Security Trust Fund Glendale, CA | $14,944,884 | $16,888,135 |
Helen And Wil Webster Foundation Arcadia, CA | $240,695,845 | $9,736,121 |
Dart-L Foundation Los Angeles, CA | $255,386,011 | $40,281,490 |