Bny Mellon Charitable Gift Fund
- Assets
- $342.6m
- Revenue
- $208.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Boston, MA
- Founding
- 06/2013
- Data as of
- 12/2021
- EIN
- 30-0748315
Organization Overview
Bny Mellon Charitable Gift Fund is located in Boston, MA. The organization was established in 2013. According to its NTEE Classification (T30) the organization is classified as: Public 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. Bny Mellon Charitable Gift Fund 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, Bny Mellon Charitable Gift Fund generated $208.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 32.4% each year . All expenses for the organization totaled $45.5m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Bny Mellon Charitable Gift Fund has awarded 3,152 individual grants totaling $183,570,130. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE BNY MELLON CHARITABLE GIFT FUND IS A 501(C)(3) ORG WHICH PROMOTES PHILANTHROPY BY MAKING GIFTS TO QUALIFIED U.S. TAX-EXEMPT CHARITIES OR TO U.S. STATE OR LOCAL GOVERNMENT ORGANIZATIONS QUALIFIED TO RECEIVE CHARITABLE CONTRIBUTION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BNY MELLON CHARITABLE GIFT FUND IS A 501(C)(3) WHICH PROMOTES PHILANTHROPY BY RECEIVING CHARITABLE CONTRIBUTIONS, BY PROVIDING SUPPORT TO ENCOURAGE THE MAKING OF CHARITABLE CONTRIBUTIONS, POOLING SUCH CONTRIBUTIONS FOR INVESTMENT MANAGEMENT AND ADMINISTRATIVE PURPOSES, AND BY MAKING GIFTS TO ORGANIZATIONS WHICH ARE DEDICATED TO CHARITABLE, SCIENTIFIC, LITERARY AND EDUCATIONAL PURPOSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
George Rio Secretary | OfficerTrustee | 1 | $0 |
Joseph Dello Russo President | OfficerTrustee | 0.5 | $0 |
William Elcock Treasurer | OfficerTrustee | 0.5 | $0 |
Carlos Byrne Asst Secretary&asst Treasurer | Officer | 0.5 | $0 |
Daniel Coughlin Asst Treasurer | Officer | 0.5 | $0 |
Sharon Scaramozza Asst Secretary | Officer | 0.5 | $0 |
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 | $136,350,103 |
| Noncash contributions included in lines 1a–1f | $73,415,776 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $136,350,103 |
| Total Program Service Revenue | $0 |
| Investment income | $5,330,526 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $65,676,803 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $208,280,795 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $43,351,438 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $109,250 |
| 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 | $20,739 |
| Fees for services: Accounting | $38,560 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,916,362 |
| Fees for services: Other | $4,478 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $8,305 |
| All other expenses | $0 |
| Total functional expenses | $45,489,141 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $36,103,340 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $306,511,554 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $342,614,894 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $342,614,894 |
| 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 | $342,614,894 |
Grants Awarded
Over the last fiscal year, Bny Mellon Charitable Gift Fund has awarded $39,013,139 in support to 997 organizations.
| Grant Recipient | Amount |
|---|---|
Jenkintown, PA PURPOSE: TO FURTHER THE ORGANIZATION'S EXEMPT PURPOSE | $1,135,055 |
Sarasota, FL PURPOSE: TO FURTHER THE ORGANIZATION'S EXEMPT PURPOSE | $1,010,000 |
Boston, MA PURPOSE: TO FURTHER THE ORGANIZATION'S EXEMPT PURPOSE | $992,388 |
San Francisco, CA PURPOSE: TO FURTHER THE ORGANIZATION'S EXEMPT PURPOSE | $899,818 |
Salt Lake City, UT PURPOSE: TO FURTHER THE ORGANIZATION'S EXEMPT PURPOSE | $655,000 |
Middlebury, VT PURPOSE: TO FURTHER THE ORGANIZATION'S EXEMPT PURPOSE | $548,750 |
Grants Recieved
Over the last fiscal year, we have identified 12 grants that Bny Mellon Charitable Gift Fund has recieved totaling $9,371,466.
| Awarding Organization | Amount |
|---|---|
Goldman Sachs Philanthropy Fund New York, NY PURPOSE: COMMUNITY & HUMAN SERVICES | $6,606,052 |
Dechomai Foundation Inc Jacksonville, FL PURPOSE: unrestrictedq | $1,038,507 |
National Christian Charitable Foundation Inc Alpharetta, GA PURPOSE: SUPPORT | $854,381 |
Pincus Family Foundation Wilmington, DE PURPOSE: PINCUS FAMILY FUND | $250,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $246,693 |
Pincus Family Foundation Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $135,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bny Mellon Charitable Gift Fund Boston, MA | $342,614,894 | $208,280,795 |
Keren Keshet-The Rainbow Foundation New York, NY | $212,134,789 | $28,921,665 |
Roswell Park Alliance Foundation Buffalo, NY | $159,422,911 | $37,424,046 |
World Of Giving Inc Spring Valley, NY | $6,086,190 | $25,054,815 |
Chapel & York Us Foundation Inc New York, NY | $7,715,489 | $28,773,311 |
Give Lively Foundation Inc New York, NY | $21,044,109 | $22,415,300 |
Greater Hartford Community Foundation Inc Hartford, CT | $8,414,279 | $22,150,705 |
Harlem Rbi Incorporated New York, NY | $85,587,058 | $22,268,250 |
Partnership Schools New York, NY | $64,379,139 | $24,282,663 |
Royal College Of Art Usa Inc New York, NY | $1,933,182 | $14,916,047 |
Imago Dei Fund Boston, MA | $57,020,766 | $29,637,241 |
Boston Charitable Trust Fund Boston, MA | $1,173,216 | $4,494,143 |