The Jain Family Institute
- Assets
- $1.0m
- Revenue
- $5.8m
- Investments
- $0.0
- Employees
- 45
- Location
- New York, NY
- Founding
- 06/2016
- Data as of
- 12/2023
- EIN
- 47-4407203
Organization Overview
The Jain Family Institute is located in New York, NY. The organization was established in 2016. According to its NTEE Classification (B80) the organization is classified as: Student Services, under the broad grouping of Education and related organizations. As of 12/2023, Jain Family Institute employed 45 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Jain Family Institute 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, Jain Family Institute generated $5.8m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 30.2% each year . All expenses for the organization totaled $5.7m during the year ending 12/2023. While expenses have increased by 33.6% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Jain Family Institute has awarded 23 individual grants totaling $8,295,712. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO ADDRESS PRESSING SOCIAL PROBLEMS THROUGH HIGH-IMPACT POLICY INTERVENTIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE INSTITUTE'S THREE LARGEST PROGRAM AREAS ARE: (A) PHENOMENAL WORLD, A FREELY-AVAILABLE PUBLICATION DEVOTED TO RIGOROUS AND INNOVATIVE WRITING ON ECONOMICS, HISTORY, FINANCE, POLICY, AND POLITICS; (B) HIGHER EDUCATION FINANCE, A RESEARCH PROGRAM EXAMINING THE STUDENT DEBT CRISIS AND HOW IT MIGHT BE AMELIORATED VIA ALTERNATIVE FINANCING STRUCTURES; & (C) FIELD, A TEAM DEVOTED TO RIGOROUS SOCIAL SCIENCE RESEARCH ACROSS THE INSTITUTE'S AREAS OF FOCUS INTENDED TO ARM POLICYMAKERS WITH EVIDENCE-BASED RECOMMENDATIONS. THE INSTITUTE HAS FURTHER PROGRAMS IN THE AREAS OF GUARANTEED INCOME, FINANCING THE ENERGY TRANSITION, AI FOR THE PUBLIC GOOD, AND SOCIAL WEALTH.THE INSTITUTE ALSO HELPS DESIGN AND INCUBATE NEW PHILANTHROPIC INITIATIVES BROUGHT TO US BY PARTNERS IN GOVERNMENT, INDUSTRY, ACADEMIA, AND OTHER SECTORS. ONE ACTIVE SUCH PROJECT IS THE CENTER FOR ACTIVE STEWARDSHIP, FOCUSED ON THE RELATIONSHIP BETWEEN THE ASSET MANAGEMENT INDUSTRY AND PRIVATE SECTOR ACTION ON CLIMATE CHANGE. THE INCUBATION OF ANOTHER SUCH PROGRAM, THE NEW INSTITUTE OF POLITICAL ECONOMY, ENDED IN 2023.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Jain President/chairman | OfficerTrustee | 5 | $0 |
Carola Jain Director | Trustee | 1 | $0 |
Michael B Stynes CEO & Director | OfficerTrustee | 41 | $205,552 |
Alexander Jacobs Chief Operating Officer | Officer | 40 | $157,925 |
Jerome Hodges Chief Research Officer | Officer | 40 | $204,703 |
Molly Dektar Editorial Director | 40 | $149,238 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fundao Euclides Da Cunha De Apoio Instit Research Services | 12/30/23 | $233,607 |
Univ Of S California Center For Economic Research Services | 12/30/23 | $215,010 |
New York University Research Services | 12/30/23 | $187,226 |
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 | $5,312,505 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,312,505 |
| Total Program Service Revenue | $513,329 |
| Investment income | $19,578 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,847,424 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $147,935 |
| Grants and other assistance to domestic individuals. | $1,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $5,000 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $666,802 |
| Compensation of current officers, directors, key employees. | $232,201 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,074,774 |
| Pension plan accruals and contributions | $86,267 |
| Other employee benefits | $262,254 |
| Payroll taxes | $202,830 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $34,724 |
| Fees for services: Accounting | $110,290 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,203,155 |
| Advertising and promotion | $11,554 |
| Office expenses | $68,009 |
| Information technology | $367,323 |
| Royalties | $0 |
| Occupancy | $260,541 |
| Travel | $99,549 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $56,682 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $25,157 |
| Insurance | $32,768 |
| All other expenses | $18,660 |
| Total functional expenses | $5,735,274 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $311,767 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $91,125 |
| Accounts receivable, net | $1,247 |
| 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 | $65,979 |
| Net Land, buildings, and equipment | $33,492 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $42,992 |
| Other assets | $496,027 |
| Total assets | $1,042,629 |
| Accounts payable and accrued expenses | $259,977 |
| Grants payable | $0 |
| Deferred revenue | $32,253 |
| 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 | $490,086 |
| Total liabilities | $782,316 |
| Net assets without donor restrictions | -$569,461 |
| Net assets with donor restrictions | $829,774 |
| 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 | $1,042,629 |
Grants Awarded
Over the last fiscal year, The Jain Family Institute has awarded $146,840 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ECONOMIC SECURITY PROJECT PURPOSE: SUPPORT OF WORK BEGUN AT JFI BY NEW INSTITUTE FOR POLITICAL ECONOMY | $71,840 |
FUND FOR GUARANTEED INCOME PURPOSE: GENERAL SUPPORT | $75,000 |