Non-profit

Atlantic Foundation

Location:

HAMILTON, NJ

Tax ID:

22-6054882

Tax-Exempt Status:

501(c)(3)-PF

Budget (2014):

Revenue: $55,466,124
Expenses: $16,555,804
Assets: $101,091,179

Formation:

1963

Type:

Private Grantmaking Foundation

Not to be confused with the Bermuda-based Atlantic Philanthropies (Nonprofit)

The Atlantic Foundation is a New Jersey-based philanthropic organization founded by J. Seward Johnson, Sr. in 1963. Primarily providing artistic and other apolitical grants and donations, it has provided many left-leaning grants since receiving funds from the Pacific Foundation in 2014. It also engages in limited advocacy activity. [1][2]

Mission

The Atlantic Foundation’s donations are primarily provided to artistic organizations, including many which bear the names of its leaders and founder. [3] It does not take unsolicited grant requests. [4]

Many of its non-artistic donations are to organizations with implicit or explicit left-leaning missions. The Pacific Fund associated with the Atlantic Foundation supports left-leaning political causes. [5]

The River Branch Foundation, for example, focuses on land protection; The Atlantic Foundation is its major donor. [6][7]

The Atlantic Foundation has donated to a number of explicitly left-leaning causes. According to Big Database, its donations have gone to the following organizations:[8]

  • $15,000 to Media Impact Funders in 2014. This organization supports left-leaning environmental, immigration, LGBT-interest, and other causes.[9]
  • Type Media Center is affiliated with the far-left publication The Nation, and is formerly known as The Nation Institute. [10] Atlantic Foundation provided $65,000 in four donations in 2007, 2009, 2010, and 2014.
  • Over $3 million through nine donations to Eyebeam, a social justice-oriented technology and journalism non-profit which was founded by John S. Johnson – grandson of The Atlantic Foundation’s founder – in 1998.[11]
  • Over $90,000 in two donations to Us Education Fund, a left-leaning group which campaigns for political speech regulation.[12]

Other engagement

The Atlantic Foundation was one of many non-profits which signed a letter to Congressional lawmakers on April 9, 2019 opposing a provision of the 2017 Tax Cuts and Jobs Act (commonly known as the tax reform law) that requires non-profits to pay taxes on revenues which are considered unrelated to the non-profit’s mission. [13][14]

Its Twitter page shows active engagement in favor of anti-corruption laws in a number of states as well as support for a bill sponsored by Senator Ted Cruz (R-TX) and Rep. Alexandria Ocasio-Cortez (D-NY) which aims to make it illegal for Members of Congress to become lobbyists. [15]

Leadership

Michael Unger has served as Chief Administrative Officer for The Atlantic Foundation since 2007. [16] He is also involved with a number of other Johnson non-profits, and in 2018 was on the Board of Directors for the Council of New Jersey Grantmakers. [17]

The Atlantic Foundation was founded by J. Seward Johnson, Sr. of the Johnson & Johnson family. Its current CEO is Johnson’s son, J. Seward Johnson, Jr., while John S. Johnson III is Director Secretary of the Foundation. [18][19]

While J. Seward Johnson has focused much of his career on artistic endeavors, John S. Johnson is heavily involved in left-leaning causes and initiatives. He is founder of The Pacific Foundation and is on its Board of Directors. He also co-founded BuzzFeed and was an investor in Huffington Post. [20][21]

Funding

The Foundation’s major funding sources are trusts related to the family of J. Seward Johnson, Sr. [22] In 2014, it sold its former headquarters for $50 million. [23][24] It grossed over $10 million in revenue and had over $89 million in assets in 2017. [25]

References

  1. Rep. Mark Walker website, Letter on UBIT issues in Tax Cuts & Jobs Reform Act,” April 15, 2019. Accessed July 21, 2019. https://walker.house.gov/sites/walker.house.gov/files/UBIT%20Coalition%20Letter%20April%2015%202019.pdf ^
  2. LinkedIn, The Atlantic Foundation, Accessed July 21, 2019. https://www.linkedin.com/company/the-atlantic-foundation/about/ ^
  3. Big Database, The Atlantic Foundation, Accessed July 21, 2019. http://www.bigdatabase.com/Big-DB/USFoundation-profiles/ATLANTIC%20FOUNDATION-226054882.HTML ^
  4. GuideStar, The Atlantic Foundation, Accessed July 21, 2019. https://www.guidestar.org/profile/22-6054882 ^
  5. LinkedIn, The Atlantic Foundation, Accessed July 21, 2019.https://www.linkedin.com/company/the-atlantic-foundation/about/ ^
  6. River Branch Foundation, Mission, Accessed July 21, 2019. https://www.riverbranchfoundation.org/home/mission/ ^
  7. Big Database, River Branch Foundation, Accessed July 21, 2019. http://www.bigdatabase.com/Big-DB/USFoundation-profiles/RIVER%20BRANCH%20FOUNDATION-226054887.HTML ^
  8. Big Database, The Atlantic Foundation, Accessed July 21, 2019. http://www.bigdatabase.com/Big-DB/USFoundation-profiles/ATLANTIC%20FOUNDATION-226054882.HTML ^
  9. Media Impact Funders, Event Calendar, Accessed July 21, 2019. https://mediaimpactfunders.org/events/?_sft_topic=civic-engagement,economic-inequality,environment,human-rights,immigration ^
  10. Type Media Center, About Us, Accessed July 21, 2019. https://typemediacenter.org/about/ ^
  11. Eyebeam, About Us, Accessed July 21, 2019. https://www.eyebeam.org/about-us/ ^
  12. RepresentUs Education Fund, Accessed July 24, 2019. https://representuseducationfund.org/ ^
  13. IRS, Unrelated Business Income Tax, Accessed July 21, 2019. https://www.irs.gov/charities-non-profits/unrelated-business-income-tax ^
  14. Rep. Mark Walker website, Letter on UBIT issues in Tax Cuts & Jobs Reform Act,” April 15, 2019. Accessed July 21, 2019. https://walker.house.gov/sites/walker.house.gov/files/UBIT%20Coalition%20Letter%20April%2015%202019.pdf ^
  15. Twitter, The Atlantic Foundation, Accessed July 21, 2019. https://twitter.com/AtlanticFound ^
  16. LinkedIn, Michael Unger profile, Accessed July 21, 2019.https://www.linkedin.com/in/michael-unger-45639b2b/ ^
  17. Council of New Jersey Grantmakers, 2018 Annual Meeting, Accessed July 21, 2019. https://www.cnjg.org/sites/default/files/files/events/2018%20Annual%20Meeting%20Program%20Book.pdf ^
  18. GuideStar, The Atlantic Foundation, Accessed July 21, 2019. https://www.guidestar.org/profile/22-6054882 ^
  19. Big Database, The Atlantic Foundation, Accessed July 21, 2019. http://www.bigdatabase.com/Big-DB/USFoundation-profiles/ATLANTIC%20FOUNDATION-226054882.HTML ^
  20. LinkedIn, John S. Johnson, Accessed July 21, 2019. https://www.linkedin.com/in/john-s-johnson-25745153/ ^
  21. The Pacific Foundation, Board, John S. Johnson, Accessed July 21, 2019. http://www.thepacificfoundation.org/board.html https://www.huffpost.com/author/john-s-johnson ^
  22. Atlantic Foundation, Return of a Private Foundation (Form 990-PF), 2016, Schedule B ^
  23. Julie Strickland, “Atlantic Foundation looks to cash in on Chelsea sale,” October 11, 2013. Accessed July 21, 2019. https://therealdeal.com/2013/10/11/atlantic-foundation-looks-to-cash-in-on-chelsea-sale/?utm_source=dlvr.it&utm_medium=twitter ^
  24. Daniel Geiger, “Chelsea site sells for lofty $50M,” January 30, 2014. Accessed July 21, 2019. https://www.crainsnewyork.com/article/20140131/REAL_ESTATE/140139973/chelsea-site-sells-for-lofty-50m ^
  25. Big Database, The Atlantic Foundation, Accessed July 21, 2019. http://www.bigdatabase.com/Big-DB/USFoundation-profiles/ATLANTIC%20FOUNDATION-226054882.HTML ^
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Nonprofit Information

  • Accounting Period: December - November
  • Tax Exemption Received: July 1, 1964

  • Available Filings

    Period Form Type Total revenue Total functional expenses Total assets (EOY) Total liabilities (EOY) Unrelated business income? Total contributions Program service revenue Investment income Comp. of current officers, directors, etc. Form 990
    2014 Dec Form PF $55,466,124 $16,555,804 $101,091,179 $2,860,158 $0 $0 $0 $0 PDF
    2013 Dec Form PF $15,909,363 $8,445,844 $73,009,420 $10,415,667 $0 $0 $0 $0 PDF
    2012 Dec Form PF $10,952,905 $6,752,317 $63,505,436 $11,919,470 $0 $0 $0 $0 PDF
    2011 Dec Form PF $12,723,192 $2,840,023 $61,792,789 $18,391,197 $0 $0 $0 $0 PDF

    Additional Filings (PDFs)

    Atlantic Foundation

    14 FAIRGROUNDS ROAD SUITE A
    HAMILTON, NJ 08619-3447