Goldman Sachs Philanthropy Fund
- Assets
- $9.0b
- Revenue
- $2.6b
- Investments
- $692.4m
- Employees
- 0
- Location
- New York, NY
- Founding
- 08/2001
- Data as of
- 12/2021
- EIN
- 31-1774905
Organization Overview
Goldman Sachs Philanthropy Fund is located in New York, NY. The organization was established in 2001. 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. Goldman Sachs Philanthropy 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, Goldman Sachs Philanthropy Fund generated $2.6b in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 22.3% each year . All expenses for the organization totaled $3.2b during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Goldman Sachs Philanthropy Fund has awarded 18,553 individual grants totaling $8,128,018,440. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
ENCOURAGE AND PROMOTE PHILANTHROPY AND CHARITABLE GIVING.
Describe the Organization's Program Activity:
THE GOLDMAN SACHS PHILANTHROPY FUND ("GSPF") ACCOMPLISHES ITS CHARITABLE PURPOSES BY RECEIVING CHARITABLE CONTRIBUTIONS AND MAKING GRANTS EXCLUSIVELY FOR RELIGIOUS, CHARITABLE, SCIENTIFIC, LITERARY, OR EDUCATIONAL PURPOSES, PRIMARILY TO ORGANIZATIONS DESCRIBED IN SECTION 170(B)(1)(A) OF THE INTERNAL REVENUE CODE OF 1986 AS AMENDED (THE "CODE"). THE ORGANIZATION OPERATES AS A "SPONSORING ORGANIZATION" WITHIN THE MEANING OF CODE SECTION 4966 AND MAINTAINS DONOR ADVISED FUNDS. FOR THE YEAR ENDED DECEMBER 31, 2021, THE ORGANIZATION MADE APPROXIMATELY 19,500 GRANTS TOTALING APPROXIMATELY $3,150,292,000 TO CHARITABLE ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karey D Dye President | Officer | 9 | $0 |
Benjamin Rader Secretary | Officer | 9 | $0 |
Donald Irons Vice President | Officer | 8 | $0 |
Mariam Kamshad Vice President | Officer | 5 | $0 |
Michael Woda Vice President | Officer | 14.5 | $0 |
Kenneth Sheinman Asst. Treasurer | Officer | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Patterson Belknap Webb Tyler Llp Legal Services | 12/30/21 | $491,497 |
The Ayco Company Lp Admin/invst Advisory | 12/30/21 | $886,825 |
Stellar Technology Solutions Software Provider | 12/30/21 | $436,554 |
The Goldman Sachs Trust Company Na Inv Advis/trust Svcs | 12/30/21 | $11,778,847 |
Goldman Sachs Co Llc Investment Advisory | 12/30/21 | $3,897,678 |
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 | $2,125,065,135 |
| Noncash contributions included in lines 1a–1f | $1,102,723,608 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,125,065,135 |
| Total Program Service Revenue | $0 |
| Investment income | $150,189,575 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $280,336,913 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,555,591,623 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,148,667,960 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $1,623,700 |
| 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 | $460,217 |
| Fees for services: Accounting | $96,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $8,748,231 |
| Fees for services: Other | $935,379 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $410,000 |
| 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 | $113,779 |
| All other expenses | $0 |
| Total functional expenses | $3,168,921,660 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $19,320,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $78,405,000 |
| 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 | $8,248,362,000 |
| Investments—other securities | $692,359,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $9,038,446,000 |
| Accounts payable and accrued expenses | $70,434,857 |
| Grants payable | $330,186,143 |
| 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 | $400,621,000 |
| Net assets without donor restrictions | $8,637,825,000 |
| Net assets with donor restrictions | $0 |
| 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 | $9,038,446,000 |
Grants Awarded
Over the last fiscal year, Goldman Sachs Philanthropy Fund has awarded $3,139,626,962 in support to 5,029 organizations.
| Grant Recipient | Amount |
|---|---|
Jenkintown, PA PURPOSE: COMMUNITY & HUMAN SERVICES | $1,144,145,476 |
Mountain View, CA PURPOSE: COMMUNITY & HUMAN SERVICES | $430,025,000 |
Jenkintown, PA PURPOSE: COMMUNITY & HUMAN SERVICES | $330,186,143 |
New York, NY PURPOSE: COMMUNITY & HUMAN SERVICES | $93,642,000 |
Redwood City, CA PURPOSE: EDUCATION | $42,283,200 |
Oakland, CA PURPOSE: EDUCATION | $37,826,122 |
Grants Recieved
Over the last fiscal year, we have identified 32 grants that Goldman Sachs Philanthropy Fund has recieved totaling $160,297,989.
| Awarding Organization | Amount |
|---|---|
Dechomai Foundation Inc Jacksonville, FL PURPOSE: unrestricted | $86,196,255 |
Aramont Charitable Foundation Los Angeles, CA PURPOSE: CHARITABLE, SCIENTIFIC, LITERARY, OR EDUCATIONAL PURPOSES | $18,690,938 |
Aramont Charitable Foundation Los Angeles, CA PURPOSE: CHARITABLE, SCIENTIFIC, LITERARY, OR EDUCATIONAL PURPOSES | $16,069,121 |
2040 Foundation Inc Charlotte, NC PURPOSE: Support of Community Initiatives | $10,167,500 |
Ayco Charitable Foundation Cohoes, NY PURPOSE: COMMUNITY & HUMAN SERVICES | $7,768,427 |
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $7,272,741 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Goldman Sachs Charitable Gift Fund New York, NY | $647,108,972 | $257,164,151 |
Ayco Charitable Foundation Cohoes, NY | $1,031,597,000 | $377,221,382 |
Mother Cabrini Health Foundation New York, NY | $4,041,149,647 | $113,675,567 |
Kars 4 Kids Inc Lakewood, NJ | $38,564,876 | $109,657,696 |
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 |