Theodore J Forstmann Charitable Trust
- Assets
- $41.0m
- Revenue
- $703.0k
- Investments
- $24.0m
- Employees
- 0
- Location
- New York, NY
- Founding
- 03/2015
- Data as of
- 12/2023
- EIN
- 47-1716810
Organization Overview
Theodore J Forstmann Charitable Trust is located in New York, NY. The organization was established in 2015. 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. Theodore J Forstmann Charitable Trust 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 12/2023, Theodore J Forstmann Charitable Trust generated $703.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (28.3%) each year. All expenses for the organization totaled $20.0m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Theodore J Forstmann Charitable Trust has awarded 215 individual grants totaling $106,258,160. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Margot Mcginness Co-Trustee | 12 | $0 | |
Kathleen Broderick Co-Trustee | 12 | $0 | |
Bessemer Trust Company Na Co-Trustee | 40 | $65,432 | |
Courtney O'malley Executive Director To Trus | 40 | $390,462 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $776,354 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$123,354 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $50,020 |
| Total Revenue | $703,020 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $455,894 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $48,691 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $862 |
| Printing and publications | $0 |
| Other expenses | $23,005 |
| Total operating and administrative expenses | $813,728 |
| Contributions, gifts, grants paid | $19,155,520 |
| Total expenses and disbursements | $19,969,248 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $16,817,377 |
| Net Accounts receivable | $166,165 |
| 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 | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $41,000,417 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Theodore J Forstmann Charitable Trust has awarded $19,155,520 in support to 41 organizations.
| Grant Recipient | Amount |
|---|---|
AFRICAN LEADERSHIP FOUNDATION PURPOSE: GENERAL EXEMPT PURPOSE | $1,210,000 |
A PLACE CALLED HOME PURPOSE: GENERAL EXEMPT PURPOSE | $933,330 |
AUSTRALIAN INDIGENOUS EDUCATION FOUNDATION PURPOSE: GENERAL EXEMPT PURPOSE | $520,500 |
ADVENTURES IN LEARNING PURPOSE: GENERAL EXEMPT PURPOSE | $200,000 |
CARITAS OF KRAKOW ARCHDIOCESE PURPOSE: GENERAL EXEMPT PURPOSE | $200,000 |
CHILDREN FIRST FOUNDATION PURPOSE: GENERAL EXEMPT PURPOSE | $181,610 |