Prometheus Foundation
- Assets
- $57.0m
- Revenue
- $5.7m
- Investments
- $47.4m
- Employees
- 0
- Location
- Crystal Bay, NV
- Founding
- 09/2010
- Data as of
- 12/2022
- 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 12/2022, Prometheus Foundation generated $5.7m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 15.5% each year . All expenses for the organization totaled $5.1m during the year ending 12/2022. While expenses have increased by 18.3% 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 2014, Prometheus Foundation has awarded 187 individual grants totaling $27,337,404. 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
2022
Describe the Organization's Program Activity:
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 |
|---|---|---|---|
Carl B Barney Director & Founder | 5 | $0 | |
C Bradley Thompson Director | 0.5 | $2,000 | |
Leonard Esmond Director & Treasurer | 0.5 | $3,000 | |
David Hardy Director & Chairman | 0.5 | $3,000 | |
Craig Biddle Director | 20 | $51,875 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Esmond And Associates Inc | 12/30/22 | $85,841 |
Annie Vinther Sanz | 12/30/22 | $75,841 |
Gordon Rees Scully Mansukhani Llp | 12/30/22 | $71,845 |
Alan Germani Web Solutions | 12/30/22 | $65,504 |
Jp Morgan Securities | 12/30/22 | $63,693 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $2,031,750 |
| Interest on Savings | $3,880,061 |
| Dividends & Interest | $919,891 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$1,319,061 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $223,071 |
| Total Revenue | $5,735,712 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $59,875 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $99,850 |
| Taxes | $138,284 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $397,390 |
| Printing and publications | $0 |
| Other expenses | $231,399 |
| Total operating and administrative expenses | $1,181,924 |
| Contributions, gifts, grants paid | $3,874,357 |
| Total expenses and disbursements | $5,056,281 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $8,739,586 |
| 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 | $683,125 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $5,000,000 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $57,040,859 |
| Accounts payable and accrued expenses | $69,250 |
| Grants payable | $1,562,800 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $103,752 |
| Total liabilities | $1,735,802 |
Grants Awarded
Over the last fiscal year, Prometheus Foundation has awarded $4,926,587 in support to 47 organizations.
| Grant Recipient | Amount |
|---|---|
ANCYRANUM MEDIA COMM CONSULTANCY PURPOSE: EDUCATION | $17,750 |
ANIS BENHAYYOUN PURPOSE: EDUCATION | $36,582 |
BRUNO LIPPY FONSECA SEREJO PURPOSE: EDUCATION | $12,623 |
AYN RAND CENTER ISRAEL PURPOSE: EDUCATION | $220,000 |
MARTIN HOOSS PURPOSE: EDUCATION | $15,400 |
LIBERTY INTERNATIONAL PURPOSE: EDUCATION | $10,000 |