Asness Family Foundation
- Assets
- $26.0m
- Revenue
- $5.6m
- Investments
- $25.8m
- Employees
- 0
- Location
- Melville, NY
- Founding
- 06/2017
- Data as of
- 02/2023
- EIN
- 81-4745940
Organization Overview
Asness Family Foundation is located in Melville, NY. The organization was established in 2017. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Asness Family Foundation 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 02/2023, Asness Family Foundation generated $5.6m 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 (24.4%) each year. All expenses for the organization totaled $9.5m during the year ending 02/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Asness Family Foundation has awarded 60 individual grants totaling $80,695,000. 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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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $1,793,517 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,553,830 |
| Capital Gain Net Income | $2,553,830 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,266,689 |
| Total Revenue | $5,614,036 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $882,752 |
| Taxes | $187,731 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $13,795 |
| Total operating and administrative expenses | $1,118,713 |
| Contributions, gifts, grants paid | $8,406,522 |
| Total expenses and disbursements | $9,525,235 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $221,645 |
| Net Accounts receivable | $0 |
| 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 | $21,751,554 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $25,997,834 |
| 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, Asness Family Foundation has awarded $5,675,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
THE UNIVERSITY OF CHICAGO PURPOSE: CHICAGO BOOTH/PROF FUND | $2,125,000 |
BROAD INSTITUTE PURPOSE: MEDICAL- BIOMEDICINE DISEASE AND CONDITIONS | $250,000 |
FOUNDATION FOR INDIVIDUAL RIGHTS AND EXPRESSION PURPOSE: DEFEND AND SUSTAIN INDIVIDUAL RIGHTS FOR AMERICANS | $800,000 |
MANHATTAN INSTITUTE PURPOSE: THINK TANK, WHOSE MISSION IS TO DEVELOP AND DISSEMINATE NEW IDEAS THAT FOSTER GREATER ECONOMIC CHOICE AND INDIVIDUAL RESPONSIBILITY. | $2,500,000 |