Hess Foundation INC FY2021 filing

Tax-deductible

Parsippany, NJ501(c)(3)EIN 22-1713046Revenue $48.4M in FY2021

On file with the IRS14 Sylvan Way Ste 3, 07054-3835 · Parsippany, NJTax-exempt since Oct 1957Private non-operating foundation

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501(c)(3) charity; gifts are tax-deductible.
Status: IRS Pub. 78

Before you give

FY2021 · Form 990-PFIndependent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990-PF
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 5
filings with a surplus
Average deficit $9.5M a year · 24% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Liabilities
$34.3M
21% of total assets
Looks good: liabilities are 21% of assets; 50% or less.
Pt X · Ln 26
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$48.4M
+37% vs prior year
Spent
$52.2M
Net assets
$130.2M
By yearFY2020–FY2024
Revenue
$48.4M
FY2021▲ +37%
Tap a bar for its year
Revenue by fiscal year
FY2020$35.3M
FY2021$48.4M
FY2022$50.7M
FY2023$21.6M
FY2024$43.2M
Expenses
$52.2M
FY2021▲ +46%
Tap a bar for its year
Expenses by fiscal year
FY2020$35.8M
FY2021$52.2M
FY2022$35.6M
FY2023$49.0M
FY2024$74.4M
Net assets
$130.2M
FY2021▼ -3%
Tap a bar for its year
Net assets by fiscal year
FY2020$134.0M
FY2021$130.2M
FY2022$145.4M
FY2023$118.0M
FY2024$86.8M

From the FY2021 Form 990 (year ending November 2021) · see the original

Form 990 (PDF) Claim
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 1957.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

The filing lists no officers, directors or key staff.

Part VII, Section A · reportable compensation
See Hess Foundation INC executive salaries →

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Programs and updates

A private foundation based in Parsippany, NJ.

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Provided by the organization

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking
Grants paid · 567 grants · $171.7M · 2019–2023
Icahn School of MedicineFY2023$20,150,000
Steppingstone Foundation INCMA · FY2023$5,333,333
Harvard Business SchoolFY2023$5,150,000
Lincoln Ctr for the Performing ArtsFY2023$4,350,000
Individual RecipientFY2023$4,000,000
The Franklin InstitutePA · FY2023$1,600,000
Cp 2023PA · FY2023$1,500,000
Park Avenue SynagogueFY2023$1,150,000
Museum AssociatesFY2023$1,100,000
Usta Foundation IncorporatedNY · FY2023$1,000,000
Ejs Presidential FoundationFY2023$550,000
United Way of Greater HoustonTX · FY2023$500,000
Kode with Klossy INCNY · FY2023$500,000
Film Society of Lincoln Center INCFY2023$500,000
Mount Sinai HospitalNY · FY2023$325,000
See all 567 grants →

By the numbers

The FY2021 990-PF, line by line.

1The main four
Money in
$48.4M
Other income$26.9M
Gifts and grants$21.5M
Money out
$52.2M
Owns and owes
$130.2M
net assets
Total assets$164.5M
Liabilities$34.3M
2In more detail
Revenue in detail
Gifts and grants$21.5M
Other income$26.9M
Total revenue$48.4M
Assets in detailEnd of year
Total assets$164.5M
Liabilities$34.3M
Net assets$130.2M
Operations
Fiscal year endsNovember

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $43.2M$74.4M−$31.2M$86.8M 990 PDF
FY2023 $21.6M$49.0M−$27.4M$118.0M 990 PDF
FY2022 $50.7M$35.6M$15.2M$145.4M 990 PDF
FY2021 Viewing $48.4M$52.2M−$3.7M$130.2M 990 PDF
FY2020 $35.3M$35.8M−$533K$134.0M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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