Herbst Foundation Inc
- Assets
- $59.2m
- Revenue
- $2.7m
- Investments
- $44.2m
- Employees
- 0
- Location
- San Francisco, CA
- Founding
- 04/1963
- Data as of
- 07/2023
- EIN
- 94-6061680
Organization Overview
Herbst Foundation Inc is located in San Francisco, CA. The organization was established in 1963. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Herbst Foundation Inc 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 07/2023, Herbst Foundation Inc generated $2.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (6.3%) each year. All expenses for the organization totaled $5.6m during the year ending 07/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Herbst Foundation Inc has awarded 98 individual grants totaling $34,895,001. 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 |
|---|---|---|---|
Melvyn I Mark President | 1 | $0 | |
Jerrol L Harris Director | 1 | $0 | |
William Noble Director | 1 | $0 | |
Bruce W Hart Director | 1 | $0 | |
Robert K Taylor Treas. & Direct | 1 | $0 | |
Steven Monosson Director | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Stewart & Patten Co Llc | 7/30/23 | $59,702 |
Clearbridge Investments Llc | 7/30/23 | $70,038 |
Rk Taylor & Associates | 7/30/23 | $77,500 |
Gardner Russo & Quinn Llc | 7/30/23 | $117,859 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $96,123 |
| Dividends & Interest | $1,463,437 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,122,355 |
| Capital Gain Net Income | $1,122,355 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $2,681,915 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $47,725 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $40,144 |
| Depreciation | $1,056 |
| Occupancy | $108,737 |
| Travel, conferences, and meetings | $150 |
| Printing and publications | $0 |
| Other expenses | $21,258 |
| Total operating and administrative expenses | $593,364 |
| Contributions, gifts, grants paid | $5,005,325 |
| Total expenses and disbursements | $5,598,689 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $14,918,725 |
| 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 | $0 |
| Net Land, buildings, and equipment | $1,399 |
| Other assets | $16,068 |
| Total assets | $59,179,313 |
| Accounts payable and accrued expenses | $1,920 |
| 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 | $1,920 |
Grants Awarded
Over the last fiscal year, Herbst Foundation Inc has awarded $3,150,000 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
FINE ARTS MUSEUM OF SF PURPOSE: FACILITY IMPROVEMENTS | $300,000 |
ST IGNATIUS COLLEGE PREPARATORY PURPOSE: FACILITY IMPROVEMENTS | $1,000,000 |
INTERFAITH CENTER AT THE PRESIDIO PURPOSE: FACILITY IMPROVEMENTS | $100,000 |
SAN FRANCISCO UNIVERSITY HIGH SCHOO PURPOSE: FACILITY IMPROVEMENTS | $500,000 |
ST MARY'S MEDICAL CENTER FOUNDATION PURPOSE: FACILITY IMPROVEMENTS | $150,000 |
MISSION NEIGHBORHOOD CENTERS PURPOSE: FACILITY IMPROVEMENTS | $200,000 |