Sean N Parker Foundation
- Assets
- $253.8m
- Revenue
- $4.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Palo Alto, CA
- Founding
- 08/2011
- Data as of
- 12/2022
- EIN
- 27-4389819
Organization Overview
Sean N Parker Foundation is located in Palo Alto, CA. The organization was established in 2011. 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. Sean N Parker 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, Sean N Parker Foundation generated $4.2m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 12.2% each year . All expenses for the organization totaled $3.5m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Sean N Parker Foundation has awarded 81 individual grants totaling $218,408,894. 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
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
ARTWORK - THE ARTWORKS IN THE FOUNDATION'S COLLECTION ARE HELD IN TRUST FOR THE PUBLIC AND MADE AVAILABLE FOR PUBLIC DISPLAY, RESEARCH AND EDUCATION. TO ADVANCE THIS MISSION, THE FOUNDATION PLACES ITS ARTWORK ON ROTATING LOANS TO VARIOUS MUSEUMS BOTH IN AND OUTSIDE THE UNITED STATES AND ENCOURAGES THE MUSEUMS TO INCLUDE EDUCATIONAL PROGRAMMING AROUND THE LOANED WORKS, SUCH AS CURATORIAL LECTURES, PUBLIC PROGRAMS, AND SYMPOSIA. WHEN NOT ON LOAN, THE WORKS ARE STORED AT A SPECIALIZED ART FACILITY THAT PRESERVES THE ART FOR FUTURE GENERATIONS AND ALLOWS STUDENTS AND SCHOLARS TO CONDUCT RESEARCH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sean N Parker President/director | 5 | $0 | |
Tom Van Loben Sels Secretary/treasurer/director | 0.5 | $0 | |
Alexandra Lenas Parker Director | 0.5 | $0 | |
Rakesh Mehta Director | 0.5 | $0 | |
Michael Polansky Executive Director | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Crozier Fine Arts | 12/30/22 | $310,440 |
Apercen Partners Llc | 12/30/22 | $178,621 |
Ransick Gat Fine Art Services Inc | 12/30/22 | $91,831 |
Masterpiece International Ltd | 12/30/22 | $65,065 |
Odyssey Art Services Llc | 12/30/22 | $52,530 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $4,530,046 |
| Interest on Savings | $0 |
| Dividends & Interest | $26,139 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$320,258 |
| Capital Gain Net Income | $4,099,263 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | -$4,549 |
| Total Revenue | $4,231,378 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $56,000 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,109,999 |
| Total operating and administrative expenses | $1,418,902 |
| Contributions, gifts, grants paid | $2,040,000 |
| Total expenses and disbursements | $3,458,902 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $21,712 |
| Savings and temporary cash investments | $1,908,466 |
| 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 | $463,973 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $129,475 |
| Other assets | $251,247,388 |
| Total assets | $253,771,014 |
| Accounts payable and accrued expenses | $396,524 |
| 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 | $50,000 |
| Total liabilities | $446,524 |
Grants Awarded
Over the last fiscal year, Sean N Parker Foundation has awarded $8,290,500 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
EDMUNDSON ART FOUNDATION INC PURPOSE: ARTIST LECTURE | $500 |
THE BARACK OBAMA FOUNDATION PURPOSE: INSPIRE, EMPOWER AND CONNECT PEOPLE TO CHANGE THEIR WORLD | $6,250,000 |
NEW VENTURE FUND PURPOSE: PROMOTE REVITALIZATION OF DISTRESSED COMMUNITIES | $2,040,000 |