Andersen Tax Foundation
- Assets
- $5.0m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- 10/2018
- Data as of
- 12/2022
- EIN
- 82-2795105
Organization Overview
Andersen Tax Foundation is located in New York, NY. The organization was established in 2018. According to its NTEE Classification (T31) the organization is classified as: Community 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. Andersen Tax 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 12/2022, Andersen Tax Foundation generated $2.0m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 69.8% each year .
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
ESTABLISHED TO ALLOW THE PEOPLE OF ANDERSEN TAX LLC TO ASSIST THE GEOGRAPHICAL COMMUNITIES SERVED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION AIMS TO PROVIDE DIRECT AND INDIRECT EMERGENCY HARDSHIP RELIEF TO THE ANDERSEN COMMUNITIES AS A WHOLE. TYPES OF DISASTERS OR EMPLOYEE HARDSHIP SITUATIONS INCLUDE, BUT ARE NOT LIMITED TO, NATURAL DISASTERS, TERRORISM, FIRES, FLOODS, VIOLENT CRIMES, PHYSICAL ABUSE, DEATH AND ILLNESS IN THE FAMILY, AND OTHER PERSONAL HARDSHIPS. FOR INDIVIDUAL ASSISTANCE, GRANTS ARE AVAILABLE TO THOSE INDIVIDUALS (NOT LIMITED TO JUST THE PEOPLE OF ANDERSEN) THAT CAN PROPERLY DEMONSTRATE NEED, HARDSHIP, OR DISTRESS. ALL INDIVIDUAL RECIPIENTS ARE SELECTED BASED ON OBJECTIVE CRITERIA MADE BY AN INDEPENDENT SELECTION COMMITTEE CONSISTING OF GEOGRAPHICALLY DIVERSE GROUP OF NINE INDIVIDUALS. THE COMMITTEE UNDERTAKES A DUE DILIGENCE REVIEW OF EACH REQUEST FOR ASSISTANCE TO ENSURE INDIVIDUALS MEET THE NEEDS-BASED TEST. GRANTS ARE ISSUED TO ELIGIBLE INDIVIDUALS, INCLUDING ANDERSEN PARTNERS AND EMPLOYEES, TO PROVIDE NEEDS-BASED FINANCIAL SUPPORT. INDIVIDUALS SEEKING HARDSHIP RELIEF WILL NEED TO APPLY TO THE FOUNDATION FOR FUNDS AND OTHER ASSISTANCE USING A PREESTABLISHED APPLICATION. IN 2022 THE FOUNDATION WAS ABLE TO PROVIDE GRANTS TO INDIVIDUALS AND ORGANIZATIONS IMPACTED BY THE HUMANITARIAN CRISIS RESULTING FROM THE RUSSIAN INVASION OF UKRAINE. ADDITIONALLY THE FOUNDATION GRANTED ASSISTANCE TO FOUR FAMILIES WHO EXPERIENCED HARDSHIP STEMMING FROM A MEDICAL EMERGENCY. THIS GRANT PROVIDED IMMEDIATE RELIEF TO THE FINANCIAL STRESS OF THE FAMILY DRIVEN BY THIS EVENT.
THE FOUNDATION RECOGNIZES THE IMPORTANCE OF HIGHER EDUCATION IN THE DEVELOPMENT AND REFINEMENT OF AN INDIVIDUAL'S CURRENT AND FUTURE CAREER RESPONSIBILITIES AND SKILLS. TO THIS END, THE FOUNDATION PROVIDES SCHOLARSHIP AID TO THE PEOPLE OF ANDERSEN AND THEIR FAMILY MEMBERS. THE PURPOSE OF THE SCHOLARSHIP AID IS TO PROVIDE FINANCIAL ASSISTANCE, INCLUDING USE OF EDUCATIONAL GRANTS, TO ELIGIBLE INDIVIDUALS SEEKING POST-SECONDARY EDUCATION AT ACCREDITED INSTITUTIONS. INDIVIDUALS SEEKING SCHOLARSHIP AID APPLIED FOR THE PROGRAM THROUGH A PREESTABLISH APPLICATION WHICH IS DISSEMINATED THROUGH ELECTRONIC, LOCAL OFFICE COMMUNICATION. ONCE COMPLETED, RECIPIENTS ARE SELECTED BY THE FOUNDATION'S SELECTION COMMITTEE BASED ON OBJECTIVE STANDARDS. THE COMMITTEE IS A GEOGRAPHICALLY DIVERSE GROUP CONSISTING OF TWELVE PEOPLE. THE COMMITTEE REVIEWES EACH SCHOLARSHIP APPLICATION AND ADMINISTERS SCHOLARSHIP AID TO GRANTEES BASED ON FINANCIAL NEED, ACADEMIC MERIT, AND SCHOLASTIC ACHIEVEMENT. THE AMOUNT OF SCHOLARSHIP AID AWARDED TO EACH RECIPIENT VARIES BASED ON THE SELECTION CRITERIA, THE NUMBER OF ELIGIBLE APPLICANTS AND THE AMOUNT OF FUNDS AVAILABLE. INDIVIDUALS WHO ARE AWARDED SCHOLARSHIP AID EITHER RECEIVE THE FUNDS DIRECTLY OR SUCH FUNDS ARE PAID DIRECTLY TO THE ACCREDITED INSTITUTION FOR APPLICATION TOWARDS THE INDIVIDUAL RECIPIENT'S DEGREE PROGRAM. THE FOUNDATION AWARDED TWENTY-SEVEN SCHOLARSHIPS IN 2022 RANGING FROM $5,000 TO $12,500.
TO THE EXTENT THE FOUNDATION CANNOT DIRECTLY ASSIST IN HARDSHIP RELIEF, IT MAKES GRANTS TO OTHER ORGANIZATIONS THAT ARE ALREADY DIRECTLY ASSISTING IN THE AFFECTED COMMUNITIES. THIS YEAR THE FOUNDATION MADE GRANTS TO ORGANIZATIONS SUPPORTING THE COMMUNITY OF UKRAINE AND SURROUNDING AREAS AS A RESULT OF THE HUMANITARIAN CRISIS DRIVEN BY THE RUSSIAN INVASIAN. FURTHER, GRANTS WERE MADE TO ORGANIZATIONS ASSISTING WITH THE AID RESPONSE TO NATURAL DISASTERS IN PUERTO RICO AND FLORIDA STEMMING FROM HURRICANES IAN AND FIONA. ADDITIONALLY, THE FOUNDATION MADE GRANTS IN SUPPORT OF EFFORTS TO COMBAT HUNGER AND SUPPORT GREATER EDUCATION INITIATIVES IN LINE WITH THE FOUNDATION'S MISSION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph P Toce Jr Trustee | Trustee | 2.5 | $0 |
Michael Van DE Loo Trustee | Trustee | 2.5 | $0 |
Pepper Austin Trustee | Trustee | 2.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $1,100,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $937,526 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,037,526 |
| Total Program Service Revenue | $0 |
| Investment income | $168,806 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$219,539 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,986,793 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $615,912 |
| Grants and other assistance to domestic individuals. | $238,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $848,629 |
| 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 | $0 |
| Fees for services: Accounting | $10,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,723,035 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,203,782 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $3,506 |
| Accounts receivable, net | $0 |
| 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 | $3,768,332 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,975,620 |
| Accounts payable and accrued expenses | $9,168 |
| Grants payable | $545,627 |
| 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 | $554,795 |
| Net assets without donor restrictions | $0 |
| 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 | $4,420,825 |
| Total liabilities and net assets/fund balances | $4,975,620 |
Grants Awarded
Over the last fiscal year, Andersen Tax Foundation has awarded $570,162 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF SAN FRANCISCO PURPOSE: GENERAL SUPPORT FOR THE SCHOOL OF LAW. | $458,495 |
MASSACHUSETTS GENERAL HOSPITAL PURPOSE: IN MEMORIAM OF DECEASED FORMER EMPLOYEE OF ANDERSEN TAX LLC. | $25,000 |
GARDEN OF DREAMS PURPOSE: IN MEMORIAM OF DECEASED FORMER EMPLOYEE OF ARTHUR ANDERSEN LLP. | $25,000 |
DOMINICAN SISTERS OF MISSION SAN JOSE PURPOSE: SUPPORT THE NEEDS OF THE GREATER SAN FRANCISCO, OAKLAND AND SAN JOSE COMMUNITIES. | $11,667 |
MESA INDEPENDENT LIVING PURPOSE: SUPPORT THE NEEDS OF THE GREATER LOS ANGELES COMMUNITIES. | $25,000 |
SAINT MARYS CENTER PURPOSE: SUPPORT THE NEEDS OF THE GREATER SAN FRANCISCO, OAKLAND AND SAN JOSE COMMUNITIES. | $25,000 |