Overview
What is Goldman Sachs Philanthropy Fund?
The Goldman Sachs Philanthropy Fund is a charitable organization based in New York City, specifically at 200 West Street 15th Floor, New York, NY 10282. Established for religious, charitable, scientific, literary, or educational purposes, the organization primarily supports Section 170(B)(1)(A) charities under the Internal Revenue Code of 1986. Operating as a sponsoring organization and maintaining donor-advised funds, Goldman Sachs Philanthropy Fund granted around 21,600 times to charitable organizations in the year 2022, totaling approximately $1.8 billion. Their mission focuses on inspiring and fostering philanthropy and charitable giving.
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 88%, Three-Star out of Four Star rating.
The Goldman Sachs Philanthropy Fund has received a solid rating of 88% from Charity Navigator, indicating a strong level of accountability and financial health. The organization boasts an impressive majority of independent board members and has demonstrated robust oversight practices, ensuring transparency and integrity in its operations. With a program expense ratio of 99.21%, it is evident that the majority of its funds are directed towards its charitable programs.
Despite these strengths, the organization struggles with fundraising efficiency, achieving a low score of $0.002. This suggests that while the fund is effective in managing its expenses and programs, it may need to improve its fundraising strategies to enhance its financial sustainability. Overall, the Goldman Sachs Philanthropy Fund shows a commitment to accountability, but addressing its fundraising efficacy could further strengthen its impact.
This AI summary has been generated from information found on Charity Navigator.
Is Goldman Sachs Philanthropy Fund legitimate?
Goldman Sachs Philanthropy Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Goldman Sachs Philanthropy Fund submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
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What is the mission statement of Goldman Sachs Philanthropy Fund?
The Goldman Sachs Philanthropy Fund acts as a catalyst for charitable giving and philanthropy. It achieves its charitable objectives by accepting donations and granting funds exclusively for causes that fall under religious, charitable, scientific, literary, or educational categories as defined by the Internal Revenue Code. In 2022, the organization made around 21,600 grants totaling approximately $1.8 billion to various charitable organizations. The Goldman Sachs Philanthropy Fund functions as a sponsoring organization and manages donor-advised funds to further amplify its charitable impact.
Who is the CEO of Goldman Sachs Philanthropy Fund?
Karey D Dye is the President of Goldman Sachs Philanthropy Fund.
What is the revenue of Goldman Sachs Philanthropy Fund?
Goldman Sachs Philanthropy Fund's revenue in 2022 was $1,938,598,082.
Who are the executives of Goldman Sachs Philanthropy Fund and what are their salaries?
There 29 volunteers at Goldman Sachs Philanthropy Fund.
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Where can I find the form 990 for Goldman Sachs Philanthropy Fund?
Goldman Sachs Philanthropy Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Goldman Sachs Philanthropy Fund
The Goldman Sachs Philanthropy Fund, a charitable organization, is dedicated to encouraging and fostering philanthropy and charitable giving. In pursuit of this mission, the organization receives donations and dispenses grants primarily to charities described under Section 170(B)(1)(A) of the Internal Revenue Code of 1986 for religious, charitable, scientific, literary, or educational purposes.
Operating as a sponsoring organization under Code Section 4966, Goldman Sachs Philanthropy Fund maintains donor-advised funds. In the fiscal year ending on December 31, 2022, the organization granted nearly 21,600 donations amounting to approximately $1.805 billion to various charitable organizations. By providing a platform for charitable contributions and grant-making, Goldman Sachs Philanthropy Fund plays a significant role in enriching communities and furthering the vital work of nonprofit organizations.
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Impact
October, 2024
The Goldman Sachs Philanthropy Fund significantly impacts the charitable landscape by encouraging and promoting philanthropy and charitable giving. Through its operations, it received substantial charitable contributions and channeled these funds into meaningful grants aimed at advancing religious, charitable, scientific, literary, and educational purposes.
In 2022 alone, the fund disbursed approximately 21,600 grants, totaling around $1.8 billion to various charitable organizations. This extensive support not only empowers eligible nonprofits but also fosters a culture of giving within communities. By maintaining donor-advised funds, the Goldman Sachs Philanthropy Fund strengthens the ability of donors to strategically direct their contributions toward causes they are passionate about, enhancing the overall effectiveness and reach of philanthropic efforts.
This information is meant to be a general summary of Goldman Sachs Philanthropy Fund. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $278,966,581
- Gross Receipts: $9,279,750,688
Assets and Liabilities:
- Total Assets: $7,530,022,000
- Total Liabilities: $49,106,000
- Net Assets: $7,480,916,000
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Organization Details
Founding Year
2001
Phone
(800) 787-3000Principal Officer
Karey D Dye
Main Address
200 WEST STREET 15TH FLOOR, NEW YORK, NY, 10282
NTEE Category
Code: T30 - Philanthropy
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