Synchrony Foundation
- Assets
- $74.5m
- Revenue
- $12.6m
- Investments
- $64.6m
- Employees
- 0
- Location
- Stamford, CT
- Founding
- 08/2018
- Data as of
- 12/2021
- EIN
- 82-2935158
Organization Overview
Synchrony Foundation is located in Stamford, CT. The organization was established in 2018. 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. Synchrony 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 12/2021, Synchrony Foundation generated $12.6m in total revenue. All expenses for the organization totaled $18.3m during the year ending 12/2021. While expenses have increased by 33.6% per year over the past 3 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 2020, Synchrony Foundation has awarded 11,060 individual grants totaling $61,673,219. 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 |
|---|---|---|---|
Denise Yap President | 30 | $0 | |
Brian Doubles Ceo/director | 0.2 | $0 | |
Margaret Keane Chairman/director | 0.2 | $0 | |
Doug Steare Vice President - Tax | 3 | $0 | |
Henry Greig Vice President/director | 0.2 | $0 | |
Chris Coffey Vice President - Treasury | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $10,000,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $1,050,064 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,587,229 |
| Capital Gain Net Income | $1,587,229 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $12,637,293 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $27,707 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $336,294 |
| Contributions, gifts, grants paid | $17,976,068 |
| Total expenses and disbursements | $18,312,362 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,984,587 |
| Savings and temporary cash investments | $855,312 |
| 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 | $24,523,561 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $74,474,766 |
| 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, Synchrony Foundation has awarded $17,976,068 in support to 2,465 organizations.
| Grant Recipient | Amount |
|---|---|
West Palm Beach, FL PURPOSE: FUNDS ARE USED FOR SYNCHRONY EMPLOYEE ASSISTANCE FUND. | $2,228,157 |
New York, NY PURPOSE: LISC WILL DEPLOY GRANTS OF UP TO $10,000 TO SMALL BUSINESSES IN HISTORICALLY DISINVESTED COMMUNITIES IN 10 TARGET MARKETS. IN THESE GEOGRAPHIES, FUNDING WILL ALSO SUPPORT BUSINESS DEVELOPMENT ORGANIZATIONS, TRUSTED NONPROFIT PARTNERS THAT PROVIDE PLACE-BASED ASSISTANCE TO SMALL BUSINESSES AND HELP ADVANCE LONG-TERM RECOVERY STRATEGIES. THIS PARTNERSHIP WILL SUPPORT SMALL BUSINESSES AND PROMOTE EQUITABLE ECONOMIC RECOVERY IN THE COMMUNITIES HARDEST HIT BY THE COVID-19 PANDEMIC. | $1,000,000 |
New York, NY PURPOSE: FUNDS WERE USED FOR COVID 19 EDUCATIONAL ADVERTISEMENTS. | $1,000,000 |
Alexandria, VA PURPOSE: COVID RELIEF FUNDS, FUNDS WILL GO TO SUPPORT THE UNITED WAY'S 211 PROGRAM, AND FUNDS USED FOR GENERAL OPERATING. | $883,619 |
Chicago, IL PURPOSE: FUNDING SUPPORTS RESPOND TO INCREASED NEED FOR FOOD DUE TO COVID-19 PANDEMIC. | $512,000 |
MEALS ON WHEELS PURPOSE: MEALS ON WHEELS WILL ALLOCATE THIS GIFT TO SUPPORT NATIONAL DISASTER RELIEF, INCLUDING EFFORTS TO SUPPORT COMMUNITIES AFFECTED BY THE COVID-19/CORONAVIRUS PANDEMIC. ON THE RARE OCCASIONS WHERE DONATIONS EXCEED MEALS ON WHEELS' EXPENSES FOR A SPECIFIC DISASTER, CONTRIBUTIONS WILL BE USED FOR NETWORK SUPPORT WHERE THE NEED IS MOST PRESSING. | $500,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Gray Foundation Cohoes, NY | $79,676,216 | $85,340,733 |
Liberty Mutual Foundation Inc Boston, MA | $40,383,671 | $39,283,240 |
Tl Foundation Suffern, NY | $597,015 | $24,643,909 |
Park Foundation Inc Ithaca, NY | $505,545,130 | $75,092,084 |
The Nathan Cummings Foundation Inc New York, NY | $538,275,709 | $724,216 |
Donald A Pels Charitable Tr 081892 Harrison, NY | $318,380,585 | $19,080,873 |
Fisher Koch Family Foundation Inc New York, NY | $18,346,148 | $55,675,398 |
Mercer Family Foundation Waltham, MA | $54,165,721 | $38,341,516 |
Brooks Family Foundation Boston, MA | $0 | $26,552,695 |
Stephen A Schwarzman Education Foundation New York, NY | $9,777,313 | $26,526,711 |
King Street Charitable Tr New York, NY | $21,156,424 | $2,759,208 |
Yawkey Foundation Ii Dedham, MA | $0 | $18,548,394 |