here they are
Which Foundations Recently Reported?
Foundations are required to submit a detailed account of their financial position once a year including the composition and value of their holdings, the recipients of their grants, and their operational expenses. FoundationMark receives this data on a rolling monthly basis and uses it to estimate investment performance for every foundation, as well as calculate other financial metrics, enabling foundations to benchmark their performance versus peers.October filings include:
- 2,250 foundation filings of the total 48,800 foundations in the FoundationMark Universe
- $120.4 billion of $1.4 trillion in total foundation assets
- $10.9 billion of $81.9 billion in total grants paid
- Top 10 by Assets
- Top 5 by Investment Performance - Over $100 million
- Bottom 5 by Investment Performance - Over $100 million
- October Filings by Asset Level
- October Filings: Top 10 States by Assets
List of Tables
| Ten Largest Foundations Filings in October 2023 | ||||||
|---|---|---|---|---|---|---|
| Assets $ in millions | Foundation Name | Location | Period End | Grants | FoundationMark 3-Yr Star Rating* | |
| 1 | $67,973.0 | Bill & Melinda Gates Foundat… | Seattle, WA | Dec 31, 2022 | $6.8 billion | 4-Star |
| 2 | 2,983.6 | Shelby Cullom Davis Charitab… | Wilmington, DE | Dec 31, 2022 | $160.2 million | 2-Star |
| 3 | 2,057.0 | Norton Simon Art Foundation | Pasadena, CA | Nov 30, 2022 | No Grants | CBD |
| 4 | 1,871.7 | Druckenmiller Foundation | New York, NY | Nov 30, 2022 | $174.9 million | 5-Star |
| 5 | 1,477.4 | Anschutz Foundation | Denver, CO | Nov 30, 2022 | $79.1 million | 2-Star |
| 6 | 1,059.6 | Hess Foundation Inc | Roseland, NJ | Nov 30, 2022 | $32.9 million | CBD |
| 7 | 1,027.2 | Paul E Singer Foundation | New York, NY | Nov 30, 2022 | $75.8 million | 5-Star |
| 8 | 846.8 | Sobrato Family Foundation | Cupertino, CA | Dec 31, 2022 | $57.4 million | 5-Star |
| 9 | 648.0 | Charles And Helen Schwab Fou… | San Francisco, CA | Dec 31, 2022 | $23.1 million | 5-Star |
| 10 | 638.3 | Valhalla Charitable Foundation | Woodside, CA | Dec 31, 2022 | $86.1 million | 4-Star |
| *The FoundationMark 3-Yr Star Rating reflects the foundation's investment performance versus the foundation universe. Foundations whose investment performance ranked in the top 20% are shown as 5 -Stars, the next 20% as 4-Stars and so on. . | ||||||
Estimated Investment Performance
Investment performance has a direct and measurable impact on charitable giving, or put simply, the better foundations' investments perform, the more money they have to carry out their philanthropic missions. As noted above, FoundationMark uses data pulled from public filings to estimate the investment performance for every foundation with over $1 million in assets, over 48,800 foundations in all. FoundationMark uses these performance estimates to create representative indices and peer group statistics to provide foundations with tools to asses their financial performance.
In this note, we highlight just the top and bottom five foundations of the 79 foundations with assets over $100 million which filed returns in October, but any trustee can request a free report detailing their foundation's performance, here.
| 5 Year Performance Leaders: Oct 2023 Filers, Assets Over $100 million* | ||||||
|---|---|---|---|---|---|---|
| 5 Yr Performance (annualized) | Foundation Name | Assets $ in millions | Location | Period End | 5 Yr Investment Gain/(Loss) | |
| 1 | 25.5% | Hess Foundation Inc | $1,059.6 | Roseland, NJ | Nov 30, 2022 | $708.7 million |
| 2 | 16.1% | Giving Grousbeck Fazzalari | 395.0 | Pt Pleasant, NJ | Nov 30, 2022 | 260.8 million |
| 3 | 15.9% | Sanda Hills Equine Center Inc | 142.8 | Jasper, IN | Dec 31, 2022 | 38.1 million |
| 4 | 14.4% | The Donald L Bren Foundation | 218.2 | Newport Beach, CA | Nov 30, 2022 | 122.5 million |
| 5 | 13.8% | Winifred Stevens Foundation | 191.6 | Tempe, AZ | Dec 31, 2022 | 75.4 million |
| Important note: Foundations may have different fiscal periods. | ||||||
| 5 Year Performance Laggards: Oct 2023 Filers, Assets Over $100 million* | ||||||
|---|---|---|---|---|---|---|
| 5 Yr Performance (annualized) | Foundation Name | Assets $ in millions | Location | Period End | 5 Yr Investment Gain/(Loss) | |
| 1 | (3.8%) | Jp Morgan Chase Foundation | $490.2 | New York, NY | Dec 31, 2022 | ($94.0) million |
| 2 | (2.6%) | United Health Foundation | 181.8 | Minnetonka, MN | Dec 31, 2022 | (461.8) thousand |
| 3 | 0.8% | Nsn Foundation Inc | 486.7 | Roseland, NJ | Nov 30, 2022 | (4.4) million |
| 4 | 1.2% | Bristol-Myers Squibb Foundation Inc | 115.9 | New York, NY | Dec 31, 2022 | 6.2 million |
| 5 | 2.0% | Penner Family Foundation | 155.7 | Bentonville, AR | Dec 31, 2022 | 16.8 million |
| Important note: Foundations may have different fiscal periods. | ||||||
Recently Reported Assets and Grants by Foundation Size
Total foundation assets are concentrated among the largest. Those with over $100 million had $96.7 billion in total assets, representing 80.3% of all foundations' assets reported in October.
Foundations with over $100 million made $8.9 billion in grants in their most recently reported year, representing 81.2% of grants reported in October.
| October Filings by Asset Level | |||
|---|---|---|---|
| Asset Level | Number | Total Assets | Grants |
| Over $500 million | 12 | $81.8 billion | $7.6 billion |
| $100 - $500 million | 67 | 14.9 billion | 1.3 billion |
| $50 - $100 million | 108 | 7.5 billion | 789.8 million |
| $25 - $50 million | 154 | 5.5 billion | 343.9 million |
| $10 - $25 million | 355 | 5.4 billion | 360.1 million |
| $5 - $10 million | 355 | 2.5 billion | 258.8 million |
| $2 - $5 million | 621 | 2.0 billion | 205.0 million |
| $1 - $2 million | 509 | 731.4 million | 93.7 million |
| Total | 2,181 | $120.3 billion | $10.9 billion |
Recently Reported Assets and Grants by State
The top three states, Washington, California, and New York accounted for 74.5% of total assets and 79.7% of total grants reported in October.
| October Filings: Top 10 States by Assets | |||
|---|---|---|---|
| Total Assets | State | Number | Grants |
| $68.7 billion | Washington | 45 | $6.9 billion |
| 10.8 billion | California | 387 | 754.8 million |
| 10.2 billion | New York | 266 | 1.1 billion |
| 3.9 billion | Delaware | 100 | 280.3 million |
| 3.6 billion | New Jersey | 81 | 455.3 million |
| 2.7 billion | Pennsylvania | 110 | 146.7 million |
| 2.5 billion | Colorado | 46 | 106.3 million |
| 1.9 billion | Texas | 118 | 98.9 million |
| 1.5 billion | Illinois | 93 | 90.5 million |
| 1.3 billion | Ohio | 79 | 98.6 million |
*Important Notes: Just like individuals, foundations are required to file a return the with the IRS each year. Unlike individuals, foundation returns are open to public inspection. In their filings, foundations must disclose a great deal of information including detailed financial statements, asset holdings, and grant recipients. All information is believed accurate but not warranted.
About FoundationMark: FoundationMark tracks the investment performance of private foundations and publishes free benchmarking metrics for the foundation community. FoundationMark's universe consists of over 40,000 foundations representing over 98% of total foundation assets.
Are you a foundation? Foundation trustees can request a free report on their foundation detailing their performance and other metrics versus peers by requesting it here.
Contact:
John Seitz
JSeitz@FoundationMark.com
(646) 844-0605
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