The Herb Alpert Foundation
- Assets
- $34.5m
- Revenue
- $29.9m
- Investments
- $31.7m
- Employees
- 0
- Location
- Santa Monica, CA
- Founding
- 03/1993
- Data as of
- 12/2021
- EIN
- 95-4191227
Organization Overview
The Herb Alpert Foundation is located in Santa Monica, CA. The organization was established in 1993. 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. Herb Alpert 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, Herb Alpert Foundation generated $29.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 29.7% each year . All expenses for the organization totaled $7.1m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Herb Alpert Foundation has awarded 702 individual grants totaling $68,529,854. 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 |
|---|---|---|---|
Rona Sebastian President | 40 | $530,000 | |
Matthew Wilder Program Officer | 40 | $153,916 | |
James Montoya Jr Executive Asst | 40 | $99,886 | |
Herb Alpert Chairman | 0 | $0 | |
Lani Hall Alpert Vice Chair. | 0 | $0 | |
Paul Frimmer CFO | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
C4 Global Communications Inc | 12/30/21 | $73,000 |
David Bryan | 12/30/21 | $151,200 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $26,727,951 |
| Interest on Savings | $88 |
| Dividends & Interest | $1,088,921 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,064,482 |
| Capital Gain Net Income | $2,064,482 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $148 |
| Total Revenue | $29,881,590 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $530,000 |
| Other employee salaries and wages | $254,312 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $53,992 |
| Depreciation | $2,154 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $453,195 |
| Total operating and administrative expenses | $1,330,978 |
| Contributions, gifts, grants paid | $5,733,800 |
| Total expenses and disbursements | $7,064,778 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $20,983 |
| Savings and temporary cash investments | $2,773,362 |
| 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 | $20 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $5,296 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $1,493 |
| Investments—other | $15,289 |
| Net Land, buildings, and equipment | $85 |
| Other assets | $0 |
| Total assets | $34,510,409 |
| 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 | $848 |
| Total liabilities | $848 |
Grants Awarded
Over the last fiscal year, The Herb Alpert Foundation has awarded $5,733,800 in support to 82 organizations.
| Grant Recipient | Amount |
|---|---|
Valencia, CA PURPOSE: CHARITABLE | $1,147,000 |
GOOD PEOPLE FUND PURPOSE: CHARITABLE | $700,000 |
UCLA HERB ALPERT SCHOOL OF MUSIC PURPOSE: CHARITABLE | $325,000 |
PS ARTS PURPOSE: CHARITABLE | $227,500 |
THE HARLEM SCHOOL OF THE ARTS PURPOSE: CHARITABLE | $217,500 |
THE JAZZ FOUNDATION PURPOSE: CHARITABLE | $200,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Mimi And Peter Haas Fund San Francisco, CA | $0 | $22,825,724 |
William K Bowes Jr Foundation San Francisco, CA | $0 | $15,233,813 |
Collins Foundation Portland, OR | $249,591,840 | $5,256,313 |
Walter And Elise Haas Fund San Francisco, CA | $290,773,419 | $45,613,238 |
Lisa And Douglas Goldman Fund San Francisco, CA | $314,443,125 | $25,968,602 |
Wood-Claeyssens Foundation Santa Barbara, CA | $112,450,224 | $19,490,467 |
The Saban Family Foundation Los Angeles, CA | $4,126,107 | $4,076,196 |
Freeport-Mcmoran Copper & Gold Foundation Phoenix, AZ | $2,326,146 | $18,600,000 |
California Winegrowers Foundation Napa, CA | $3,681,527 | $16,676,626 |
Multi-Union Security Trust Fund Glendale, CA | $14,944,884 | $16,888,135 |
Helen And Wil Webster Foundation Arcadia, CA | $240,695,845 | $9,736,121 |
Dart-L Foundation Los Angeles, CA | $255,386,011 | $40,281,490 |