Varnum-De Rose Trust
- Assets
- $6.7m
- Revenue
- $986.6k
- Investments
- $6.5m
- Employees
- 0
- Location
- Pittsburgh, PA
- Founding
- 12/2018
- Data as of
- 12/2021
- EIN
- 83-1214640
Organization Overview
Varnum-De Rose Trust is located in Pittsburgh, PA. The organization was established in 2018. 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. Varnum-De Rose 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 12/2021, Varnum-De Rose Trust generated $986.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (48.4%) each year. All expenses for the organization totaled $449.0k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Varnum-De Rose Trust has awarded 64 individual grants totaling $1,068,000. 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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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bny Mellon N A Co-Trustee | 1 | $45,880 | |
Jay H Mcdowell ESQ Co-Trustee | 1 | $7,358 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $59,699 |
| Interest on Savings | $0 |
| Dividends & Interest | $206,262 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $718,821 |
| Capital Gain Net Income | $718,821 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,775 |
| Total Revenue | $986,557 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $53,238 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $6,978 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $64,045 |
| Contributions, gifts, grants paid | $385,000 |
| Total expenses and disbursements | $449,045 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $225,365 |
| 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 | $6,511,837 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $6,737,202 |
| 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, Varnum-De Rose Trust has awarded $385,000 in support to 22 organizations.
| Grant Recipient | Amount |
|---|---|
PHILLIPS ACADEMY PURPOSE: SCHOLARSHIPS | $50,000 |
YALE UNIVERSITY PURPOSE: SCHOLARSHIPS | $50,000 |
New York, NY PURPOSE: GENERAL OPERATING PURPOSES | $25,000 |
UNIVERSITY OF PITTSBURGH PURPOSE: GENERAL OPERATING | $25,000 |
Ithaca, NY PURPOSE: GENERAL OPERATING | $25,000 |
ST TERESA OF CALCUTTA IMMACULATE CONCEP PURPOSE: GENERAL OPERATING | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Druckenmiller Foundation New York, NY | $1,579,806,367 | $402,828,458 |
Rockefeller Brothers Fund Inc New York, NY | $1,654,004,790 | $94,665,303 |
Anna Maria And Stephen Kellen Foundation Inc New York, NY | $1,287,407,560 | $57,361,611 |
The Wallace Foundation New York, NY | $1,815,949,042 | $114,535,478 |
George Gund Foundation Cleveland, OH | $524,945,754 | $120,923,136 |
Oberkotter Foundation Philadelphia, PA | $83,021,123 | $23,009,013 |
Stephen A Schwarzman Foundation New York, NY | $124,156,635 | $61,557,254 |
Pepsico Foundation Inc Purchase, NY | $25,033,678 | $1,734,936 |
Pnc Foundation Pittsburgh, PA | $218,373,148 | $3,451,991 |
Foundation Mireille And James Levy Usa New York, NY | $36,878,233 | $277,701 |
Peter Alfond Foundation Bethesda, MD | $78,752,550 | $129,307,233 |
The Bat Hanadiv Foundation No 3 New York, NY | $1,717,297,999 | $245,079,951 |