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 5 years, it has increased revenue by an average of 13.6% 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 24,026 individual grants totaling $9,916,171,187. 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, 2022, THE ORGANIZATION MADE APPROXIMATELY 21,600 GRANTS TOTALING APPROXIMATELY $1,805,154,000 TO CHARITABLE ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peter M Fahey Director (until 11/2022) | Trustee | 1 | $0 |
Esta Stecher Director-Chair | Trustee | 1 | $0 |
Robert Katz Director | Trustee | 1 | $0 |
Megan Taylor Director | Trustee | 1 | $0 |
Mae Cavoli Director | Trustee | 1 | $0 |
David Golub Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Stellar Technology Solutions Llc Software Provider | 12/30/22 | $390,398 |
The Goldman Sachs Trust Company Investment/advisory | 12/30/22 | $12,265,360 |
Pricewaterhousecoopers Llp Audit/tax Work | 12/30/22 | $118,430 |
Goldman Sachs Co Llc Investment/advisory | 12/30/22 | $5,358,330 |
Patterson Belknap Webb Tyler Llp Legal Services | 12/30/22 | $263,530 |
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 $1,788,152,747 in support to 5,473 organizations.
| Grant Recipient | Amount |
|---|---|
100 CLUB OF KENDALL COUNTY PURPOSE: PUBLIC SERVICE | $10,000 |
18 CORP PURPOSE: RELIGIOUS INSTITUTIONS | $100,000 |
1LOVE4ANIMALS INC PURPOSE: ENVIRONMENT & ANIMAL PROTECTION | $10,000 |
350 ORG PURPOSE: HUMANITARIAN | $32,250 |
1N10 INC PURPOSE: COMMUNITY & HUMAN SERVICES | $7,000 |
350VERMONT PURPOSE: ENVIRONMENT & ANIMAL PROTECTION | $18,000 |