Ares Charitable Foundation
- Assets
- $1.7m
- Revenue
- $4.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Los Angeles, CA
- Founding
- Data as of
- 12/2022
- EIN
- 84-3666714
Organization Overview
Ares Charitable Foundation is located in Los Angeles, CA. According to its NTEE Classification (T12) the organization is classified as: Fund Raising & Fund Distribution, 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. Ares Charitable 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, Ares Charitable Foundation generated $4.9m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 12.6% each year . All expenses for the organization totaled $6.0m during the year ending 12/2022. While expenses have increased by 20.4% 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, Ares Charitable Foundation has awarded 21 individual grants totaling $7,555,757. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION IS FOCUSED ON ACCELERATING EQUALITY OF ECONOMIC OPPORTUNITY THROUGH STRATEGIC INVESTMENTS THAT PROVIDE CAREER PREPARATION AND RESKILLING, ENCOURAGE ENTREPRENEURSHIP AND DEEPEN INDIVIDUALS' UNDERSTANDING OF PERSONAL FINANCE SO THAT PEOPLE CAN PURSUE A BETTER FUTURE. THE FOUNDATION MAY ALSO SERVE AS A VEHICLE FOR SELECT GIVING OPPORTUNITIES IN CONNECTION WITH SIGNIFICANT LOCAL AND GLOBAL CRISES, INCLUDING PUBLIC HEALTH AND NATURAL DISASTERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
JOBS FOR THE FUTURE: THE INITIATIVE IS DESIGNED TO HELP INDIVIDUALS PREPARE FOR CLIMATE-RESILIENT JOBS IN THE U.S. AS WELL AS IDENTIFY LEADING TRAINING PROVIDERS, ORGANIZATIONS AND BEST PRACTICES TO DESIGN PATHWAYS TO THOSE CAREER OPPORTUNITIES.
FOR ALL OTHER PROGRAMS, ARES CHARITABLE FOUNDATION CONTRIBUTED $1.2M FOR THE 2022 FISCAL YEAR.
ALTFINANCE: INVESTING IN BLACK FUTURES". THE INITIATIVE IS DESIGNED TO DIVERSIFY THE ALTERNATIVE INVESTMENT INDUSTRY BY ATTRACTING, TRAINING AND PROVIDING CAREER OPPORTUNITIES FOR COLLEGE STUDENTS ATTENDING HISTORICALLY BLACK COLLEGES AND UNIVERSITIES. THE INITIATIVE HAS THREE PRIMARY COMPONENTS: A MENTORED FELLOWSHIP PROGRAM, A TAILORED VIRTUAL INSTITUTE AND A SCHOLARSHIP PROGRAM.
WRI: THE INITIATIVE IS DESIGNED TO HELP BUILD THE RESILIENCE OF INDIA'S MICRO, SMALL AND MEDIUM ENTERPRISES ("MSMES") IN TWO STATES TO FUTURE-PROOF THEIR BUSINESS MODELS WITHIN A CHANGING CLIMATE.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Arougheti President/director | OfficerTrustee | 1 | $0 |
Gregory Margolies Treasurer/director | OfficerTrustee | 1 | $0 |
Michael D Weiner Secretary/director | OfficerTrustee | 1 | $0 |
Caroline Blakely Independent Director | Trustee | 1 | $0 |
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 | $4,896,009 |
| Noncash contributions included in lines 1a–1f | $47,580 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,896,009 |
| Total Program Service Revenue | $0 |
| Investment income | $221 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$574 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,895,656 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,925,757 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| 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 | $13,535 |
| Fees for services: Accounting | $15,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,016,164 |
| Advertising and promotion | $0 |
| Office expenses | $175 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $3,130 |
| 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 | $5,992,890 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,492,134 |
| Savings and temporary cash investments | $221 |
| Pledges and grants receivable | $106,376 |
| 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 | $16,667 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $73,869 |
| Total assets | $1,689,267 |
| Accounts payable and accrued expenses | $155,159 |
| Grants payable | $787,563 |
| 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 | $942,722 |
| Net assets without donor restrictions | $746,545 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $1,689,267 |
Grants Awarded
Over the last fiscal year, Ares Charitable Foundation has awarded $4,925,757 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
ALT FINANCE CORPORATION PURPOSE: SUPPORT PROGRAMS FOR STUDENTS AND GRADUATES OF HISTORICALLY BLACK COLLEGES AND UNIVERSITIES | $1,500,000 |
JOBS FOR THE FUTURE PURPOSE: HELP INDIVIDUALS PREPARE FOR CLIMATE-RESILIENT JOBS IN THE U.S. AS WELL AS IDENTIFY LEADING TRAINING PROVIDERS, ORGANIZATIONS AND BEST PRACTICES TO DESIGN PATHWAYS TO THOSE CAREER OPPORTUNITIES. | $1,813,950 |
WORLD RESOURCES INSTITUTE PURPOSE: HELP BUILD THE RESILIENCE OF INDIAS MICRO, SMALL AND MEDIUM ENTERPRISES (MSMES) IN TWO STATES TO FUTURE-PROOF THEIR BUSINESS MODELS WITHIN A CHANGING CLIMATE. | $456,322 |
CIVIC VENTURES PURPOSE: HELP DESIGN AND IMPLEMENT THE FRAMEWORK FOR THE COGENERATE CHALLENGE (THE CHALLENGE), A PROGRAM THAT WILL ELEVATE THE NEED AND OPPORTUNITY FOR INTERGENERATIONAL TEAMS OF ENTREPRENEURS TO HELP PROBLEM-SOLVE SOME OF SOCIETYS | $350,000 |
DOTORG PURPOSE: HELP EXECUTE A PERSONAL FINANCE DEMONSTRATION PROJECT FOR LOW-INCOME WOMEN. | $212,563 |
OWNERSHIP WORKS PURPOSE: EDUCATE INDIVIDUALS, EMPLOYEES AND COMPANIES ABOUT THE ECONOMIC AND OTHER BENEFITS OF NROAD-BASED EMPLOYEE OWNERSHIP OF BUSINESSES AND METHODS OF ADOPTING EMPLOYEE OWNERSHIP PROGRAMS BY RESERACHING, DEVELOPING AND CONDUCTING EDUCATIONAL ACTIVITIES | $200,000 |