New York Life Foundation is a corporate foundation based in New York, NY that was founded in 1979. As of 2019 they had $108 million in revenue and $193 million in assets.
New York Life Foundation partners with local and national nonprofits dedicated to improving the lives of individuals from all walks of life, with their primary focus on organizations providing services to disadvantaged young people.
New York Life Foundation makes grants to other organizations, such as $1,000,000 to American Museum of Natural History for "Ac General"; $983,901 to Baylor College of Medicine (BCM) for "Educ. General"; $845,000 to City Year for "Educ. General"; $811,535 to Classroom for "Educ. General"; and $630,000 to Higher Achievement Program for "Educ. General".
EIN:
13-2989476
City:
State:
Metro:
Website:
Phone:
212) 576-7341
Facebook:
Founded:
1979
Type:
501(c)(3)
NTEE:
Revenue:
$108,806,520
Assets:
$193,170,904
Fiscal year end:
December
Form 990s for New York Life Foundation
| Fiscal year ending | Date received by IRS | Form | PDF link |
|---|
| 2018-12 | Feb 7, 2020 | 990PF | View PDF |
| 2017-12 | Jan 30, 2019 | 990PF | View PDF |
| 2016-12 | Nov 15, 2017 | 990PF | View PDF |
| 2015-12 | May 27, 2016 | 990PF | View PDF |
| 2014-12 | Sep 13, 2018 | 990PF | View PDF |
| ...and four more Form 990 PDFs |
Financials for New York Life Foundation
| Field | 2018 | 2017 | % Change |
|---|
| Total grants, contributions, etc. | $100,091,780 | $15,099,649 | 562.9% |
| Investment income and dividends | $4,326,696 | $2,339,819 | 84.9% |
| Net rental income | $0 | $0 | |
| Net gain from sale of non-inventory assets | $4,350,974 | $4,790,245 | -9.2% |
| Gross sales of inventory | $0 | $0 | |
| Miscellaneous revenues | $37,070 | $0 | 999% |
| Total revenues | $108,806,520 | $22,229,713 | 389.5% |
| Field | 2018 | 2017 | % Change |
|---|
| Compensation of current officers, etc. | $0 | $0 | |
| Non-officer salaries and wages | $0 | $0 | |
| Pension/retirement accruals and contributions | $0 | $0 | |
| Legal fees | $0 | $0 | |
| Accounting fees | $51,516 | $0 | 999% |
| Other fee-for-service | $0 | $0 | |
| Interest | $0 | $0 | |
| Depreciation, amortization, etc. | $0 | $0 | |
| Occupancy | $0 | $0 | |
| Travel | $0 | $0 | |
| Office expenses | | | |
| Grants to all govts., orgs., and individuals | $24,382,030 | $23,012,647 | 6.0% |
| All other expenses | $54,064 | $459,434 | -88.2% |
| Total expenses | $24,487,610 | $23,472,081 | 4.3% |
| Field | 2018 | 2017 | % Change |
|---|
| Cash (non-interest-bearing) | $0 | $132,398 | -100% |
| Savings, short-term investments, etc. | $9,284,400 | $4,860,045 | 91.0% |
| Accounts receivable | $0 | $0 | |
| Pledges and grants receivable | $0 | $99,854 | -100% |
| Loans receivable from officers, directors, etc. | $0 | $0 | |
| Notes and loans receivable | $0 | $0 | |
| Inventories for use | $0 | $0 | |
| Prepaid expenses and deferred charges | $0 | $0 | |
| Investments in government obligations | $203,094 | $0 | 999% |
| Investments in corporate stock | $41,530,963 | $47,617,708 | -12.8% |
| Investments in corporate bonds | $118,713,476 | $38,552,398 | 207.9% |
| Investments in land, buildings, and equipment | $0 | $0 | |
| Investments in mortgage loans | $0 | $0 | |
| Other types of investments | $22,205,489 | $20,686,803 | 7.3% |
| Buildings, equipment, etc. post-depreciation | $0 | $0 | |
| Other assets | $973,892 | $920,225 | 5.8% |
| Total assets | $193,170,904 | $112,869,431 | 71.1% |
| Field | 2018 | 2017 | % Change |
|---|
| Accounts payable and accrued expenses | $25,758 | $46,400 | -44.5% |
| Grants payable | $19,221,570 | $16,193,311 | 18.7% |
| Deferred revenue | $0 | $0 | |
| Loans payable to officers and disqualified persons | $0 | $0 | |
| Secured mortgages and notes payable to unrelated third parties | $0 | $0 | |
| Other liabilities | $225,726 | $574,086 | -60.7% |
| Total liabilities | $19,473,054 | $16,813,797 | 15.8% |
| Field | 2018 |
|---|
| Unrestricted net assets | $173,697,850 |
| Temporarily restricted net assets | $0 |
| Permanently restricted net assets | $0 |
Vendors for New York Life Foundation
| Vendor | Services | Amount paid | Date |
|---|
| Kimbia | Fundraising software | | 2020-06-16 |
| ███████ ███ ████ | Fundraising software; Payment processing | | 2020-06-16 |
| ████████ ███ █████ ███ | Tax accounting; Accounting | $85,913 | 2020-02-07 |
| ███ ████ ████ █████████ ███ | Investment Management Services | $177,981 | 2018-12-01 |
Personnel at New York Life Foundation
| Name | Title | Compensation | Most recent data |
|---|
| Burke Michael J | Corporate Vice President and Chief Operating Officer | $0 | Dec. 31, 2018 |
| Seter Arthur H | Senior Vice President - Investments | $0 | Dec. 31, 2018 |
| ███ ██ ███ ███████ | Vice President - Investments | $0 | Dec. 31, 2018 |
| █████ █ ████ | Vice President - Tax | - | Feb. 7, 2020 |
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