EIN 84-3666714

Ares Charitable Foundation

IRS 501(c) type
501(c)(3)
Num. employees
0
Year formed
2019
Most recent tax filings
2022-12-01
Description
The Ares Charitable Foundation provides economic opportunity and reskilling, encourages entrepreneurship, and supports climate-resilient jobs. Located in Los Angeles.
Total revenues
$4,895,656
2022
Total expenses
$5,992,890
2022
Total assets
$1,689,267
2022
Num. employees
0
2022

Program areas at Ares Charitable Foundation

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.
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.
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.
For all other programs, Ares Charitable Foundation contributed $1.2m for the 2022 fiscal year.

Grants made by Ares Charitable Foundation

GranteeGrant descriptionAmount
Jobs for the Future (JFF)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
Alt Finance CorporationSupport Programs for Students and Graduates of Historically Black Colleges and Universities$1,500,000
World Resources Institute (WRI)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
...and 6 more grants made

Who funds Ares Charitable Foundation

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
Morgan Stanley Global Impact Funding TrustUnrestricted General Support$2,550,000
Ressler Gertz FoundationContribution$1,000,000
The Allison and Bennett Rosenthal Charitable FoundationGeneral Support$500,000
...and 4 more grants received

Personnel at Ares Charitable Foundation

NameTitleCompensation
Michael WeinerSecretary$0
Michael AroughetiPresident and Director$0
Gregory MargoliesTreasurer and Director / Vice President$0

Financials for Ares Charitable Foundation

RevenuesFYE 12/2022
Total grants, contributions, etc.$4,896,009
Program services$0
Investment income and dividends$221
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$-574
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$0
Total revenues$4,895,656

Form 990s for Ares Charitable Foundation

Fiscal year endingDate received by IRSFormPDF link
2022-122023-11-15990View PDF
2021-122022-09-07990View PDF
2020-122021-08-08990View PDF

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Data update history
January 9, 2024
Posted financials
Added Form 990 for fiscal year 2022
December 28, 2023
Received grants
Identified 4 new grant, including a grant for $1,000,000 from Ressler Gertz Foundation
June 10, 2023
Posted financials
Added Form 990 for fiscal year 2021
May 22, 2023
Received grants
Identified 1 new grant, including a grant for $1,000,000 from Ressler Gertz Foundation
August 13, 2022
Posted financials
Added Form 990 for fiscal year 2020
Nonprofit Types
Grantmaking organizationsCharities
Issues
No issues found
Characteristics
Provides grantsNational levelTax deductible donationsNo full-time employees
General information
Address
2000 Ave of the Stars 12th FL
Los Angeles, CA 90067
Metro area
Los Angeles-Long Beach-Anaheim, CA
Phone
(424) 285-2736
IRS details
EIN
84-3666714
Fiscal year end
December
Taxreturn type
Form 990
Year formed
2019
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
T12: Philanthropy, Voluntarism and Grantmaking Foundations Fund Raising and Fund Distribution
NAICS code, primary
813211: Grantmaking Foundations
Parent/child status
Independent
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