Miami Foundation

The Miami Foundation is a community grantmaking foundation located in Miami, Florida. The foundation offers donors the opportunity to create a donor-advised fund within the foundation for donors to direct their funds to recipient organizations. Much of the organization’s funding activity focuses on the greater Miami and south Florida region although the group is both funded by and funds national organizations and groups in other states. 1

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At-A-Glance

Type: Non-profit, 501(c)(3)
Website: miamifoundation.org
President and CEO:

Rebecca Fishman Lipsey

Board Chair:

Erin Knight

Location: Miami, FL View on map
Tax ID: 65-0350357
Most Recent Filing: 2024
Budget (2024): Assets: $565,217,598 Revenue: $138,599,550 Expenses: $144,466,149

Contents

    The foundation fiscally sponsors a program titled Representative Democracy, which promotes left-of-center diversity, equity, and inclusion philosophy within government. Funders of the foundation include many notable left-of-center grantmaking organizations such as the William and Flora Hewlett Foundation, the W.K. Kellogg Foundation, and the Democracy Fund. 2 3 4 1

    The foundation is the fiscal sponsor organization of NewsMatch, a collaborative fundraising group that provides funding to nonprofit news outlet organizations that was previously called, “…the largest collaborative fundraiser for nonprofit news in the U.S.” 5 6

    Background

    The Miami Foundation was established in 1967 and distributed $485 million in its first 50 years of existence, mostly focusing on projects in the Miami area. Unlike other foundations, the Miami Foundation allows its funders to set up donor-advised funds (DAFs) within the organization that allows the donor to personalize their giving through the foundation while he or she is living. The foundation manages over 1,000 such funds and has more than $350 million in assets under management as of 2022. 1

    The organization has promoted a variety of left-of-center movements and causes including launching a “racial equity fund” to “address systemic racism” in 2020, a program that has received a $1 million donation from Facebook. The foundation also directed funding to promote completion of the 2020 Census. 1 7

    The Miami Foundation also has a longstanding partnership with the National LGBTQ Task Force to fund local LGBT organizations in the Miami area. 7

    The foundation is the fiscal sponsor organization of NewsMatch, a collaborative fundraising group that provides funding to nonprofit news outlet organizations that was previously called, “…the largest collaborative fundraiser for nonprofit news in the U.S.” 5 6 NewsMatch is also a project of the Institute for Nonprofit News (INN), a network of nonprofit news outlet organizations that include Mother Jones, ProPublica, and The Intercept. 8 In December 2024, NewsMatch (designated as “Newsmatch – Fund for Nonprofit News at The Miami Foundation”) was listed as one of the major 2024 funders for Aspen Journalism, a left-of-center news nonprofit within the Aspen, CO region that focuses on covering environmentalism, social justice, and water management policy. 9

    Representative Democracy

    The Miami Foundation allows small nonprofits to be housed as a project under its umbrella. One such organization fiscally sponsored by the Miami Foundation is called Representative Democracy, which is described as promoting diversity, equity, and inclusion (DEI) among government agency employees and elected officials. The project does not have a listing on the foundations website but grant databases from donors to the effort explain that the program is centered on providing grants and training to form DEI programs and strategies in public sector workspaces. The program also states a goal of bringing such initiatives to the U.S. Congress. The Representative Democracy Program has drawn funding from notable left-of-center funding groups including the Hewlett Foundation and the Democracy Fund. 3 2 10

    Funding

    The Miami Foundation’s racial equity program has received funding from companies and organizations including Facebook, the Jorge M. Perez Foundation, JP Morgan Chase, Amalgamated Foundation, the Edward S. Moore Family Foundation, the Fernandez Pave the Way Foundation, the Five Together Foundation, the Bacardi Family Foundation, Google, and Wells Fargo. 7

    In 2021, the foundation received the largest gift in its history of $33 million from the Jorge M. Perez Family Foundation. 7

    Members of the foundation’s Ruth and Richard Shack Society recognizing funding of over $1 million to the foundation include the Batchelor Foundation, the City of Miami, former U.S. Ambassador to Iceland Charles E. Cobb, the Good Government Initiative Fund, The Greenberg Traurig Philanthropic Fund, John S. and James L. Knight Foundation, Miami-Dade Office of the State Attorney, the Miami Heat, the Marlins Foundation, Royal Caribbean, and the W.K. Kellogg Foundation. 4

    Financials

    According to its 2023 990 form, the Miami Foundation reported a revenue of $133,524,071, expenses at $79,026,991, and total assets of $524,999,533. 11

    According to its 2022 990 form, the foundation reported a revenue of $113,981,496, expenses of $81,136,698, and total assets of $438,006,992. 12

    Leadership

    Rebecca Fishman Lipsey is the president and CEO of the Miami Foundation since being appointed in 2020. Prior to the foundation, Lipsey worked on the Florida Board of Education was the founder of”incubator” organization Radical Partners, and also worked as a public school teacher. 13

    Erin Knight is the board chair of the Miami Foundation and is also the president of Monument Capital Management. In addition, she is also a board member for the Baptist Health Foundation and the March of Dimes. 14

    Financial Statistics

    Total Assets

    Total Revenue

    Total Expenses

    YearTotal AssetsTotal RevenueTotal ExpensesFiling
    2024 $565,217,598 $138,599,550 $144,466,149 View
    2023 $524,999,533 $133,524,071 $79,026,991 View
    2022 $438,006,992 $113,981,496 $81,136,698 View
    2021 $460,864,709 $147,324,669 $70,287,015 View
    2020 $375,583,177 $73,742,948 $83,051,681 View

    Prior year filings: 2019, 2018, 2017, 2016, 2015, 2014, 2013, 2012, 2011, 2010

    Revenue Detail

    Expenses Detail

    Employee Compensation

    • Number of Employees: 65

    Highest Earning Employees

    EmployeeTitleTotal Compensation
    Rebecca Fishman LipseyPRESIDENT AND CEO$462,871
    Dale R AnglinDIRECTOR (PRESS FORWARD)$188,491
    Toby DouthwrightVP FOR FINANCE AND CFO EFF 2/24$188,089
    Jocelyn Noya QuintanaVP OF STRATEGIC COMMUNICATIONS$180,754
    Lindsey LinzerVP OF COMMUNITY INVESTMENT$164,358
    Nikisha WilliamsVP OF COLLECTIVE IMPACT$152,565
    Francisco GozaloCONTROLLER$135,127
    Christina Grace ShihASSOC. DIRECTOR (PRESS FORWARD) 4/24$129,693
    Brittany Grace MorganSR. DIRECTOR OF ECONOMIC RESILIENCE$115,795
    Melissa SzajaPHILANTHROPY DIRECTOR$115,469
    Janell KaplanVP OF PHILANTHROPY THRU 8/24$115,132

    Grant Activity

    All-time grants received statistics from Candid dataset:

    • Total Grant Value: $453,597,965
    • Number of Grants: 1,609
    • Number of Funders: 542

    Selection of highest value grants received from the last seven years:

    AmountYearFunderSubject
    $32,500,0002023 John D. and Catherine T. MacArthur Foundationin support of Press Forward.
    $15,000,0002024 The Chicago Community TrustGeneral support for programs, operations and other charitable purposes
    $15,000,0002022 The Boston FoundationTransfer to DAF
    $7,836,3502022 Fidelity Investments Charitable Gift FundFor grant recipient's exempt purposes
    $5,996,4022023 Global Village Charitable TrGENERAL OPERATION
    $5,000,0002023 Carnegie Corporation of New YorkFor core support of Press Forward, a national journalism initiative aimed at improving local news coverage
    $5,000,0002023 The William & Flora Hewlett FoundationFOR THE PRESS FORWARD POOLED FUND
    $4,500,0002020 Miami International Festival IncCHARITABLE
    $4,000,0002023 John S. and James L. Knight FoundationTO PROVIDE UP TO $10,000,000 TOWARDS THE ADMINISTRATIVE COSTS OF PRESS FORWARD TO ENSURE THAT THE ENTIRE PRESS FORWARD INITIATIVE MAXIMIZES OPPORTUNITIES, ESPECIALLY IN ITS EARLY STAGES, FOR POSITIVE IMPACT IN SUSTAINABLE LOCAL JOURNALISM WHILE BEING EFFICIENTLY RUN.
    $3,500,0002024 Freedom Together FoundationREIMAGINING THE CIVIC COMMONS 3.0
    $3,500,0002023 John D. and Catherine T. MacArthur Foundationin support of NewsMatch.
    $3,500,0002023 Freedom Together FoundationREIMAGINING THE CIVIC COMMONS 3.0
    $2,947,3502021 Fidelity Investments Charitable Gift FundFor grant recipient's exempt purposes
    $2,865,6002023 Fidelity Investments Charitable Gift FundFor grant recipient's exempt purposes
    $2,859,5542024 John S. and James L. Knight FoundationSUPPORT THE GROWTH, ADAPTATION AND DIVERSIFICATION OF NEWSMATCH IN THE PRESS FORWARD ERA, TO INCREASE THE COMPETENCY OF NON-PROFIT PUBLISHERS SEEKING EARNED READER REVENUE.
    $2,800,0002024 John S. and James L. Knight FoundationTO FOSTER HEALTHY COMMUNITIES BY AIDING LOCAL NEWS PUBLISHERS IN THE PRODUCTION OF FACT-BASED STATE AND LOCAL ELECTION REPORTING, WITH A FOCUS ON SWING STATES IN WHICH THIS COVERAGE WILL BE PARTICULARLY RELEVANT AND USEFUL.
    $2,703,0002024 John S. and James L. Knight FoundationTO HELP LOCAL NEWS ORGANIZATIONS POISED FOR STATEWIDE GROWTH EXPAND INTO NEW MARKETS.
    $2,569,0002024 The Frederick A. DeLuca Foundation, Inc.2023 COLLEGE ASSISTANCE PROGRAM SCHOLARSHIPS NONPROFIT CAPACITY BUILDING ARTLOOK MIAMI COMMUNITY GRANTS 2023-2028
    $2,250,0002023 Caplin Foundationgeneral & unrestricted
    $2,222,8742024 Esserman Family FoundationTo support the foundation operations.
    $2,166,7002024 Carnegie Corporation of New YorkFor core support of Press Forward, a national journalism initiative aimed at improving local news coverage
    $2,150,0002022 Ortega FoundationGeneral & Unrestricted
    $2,100,0002024 John S. and James L. Knight FoundationTO SUPPLEMENT THE ELECTIONS INTEGRITY FUND AT THE MIAMI FOUNDATION, WHICH FOSTERS HEALTHY COMMUNITIES BY AIDING LOCAL NEWS PUBLISHERS IN THE PRODUCTION OF FACT-BASED STATE AND LOCAL ELECTION REPORTING, WITH A FOCUS ON SWING STATES.
    $2,100,0002023 Ortega FoundationGeneral & Unrestricted
    $2,000,0002022 John S. and James L. Knight FoundationTO CREATE THE KNIGHT LOCAL FREE PRESS LEGAL NETWORK FUND AT THE MIAMI FOUNDATION WITH THE REPORTERS COMMITTEE FOR FREEDOM OF THE PRESS AS THE DESIGNATED ENDOWED FUND'S INITIAL GRANTEE TO PROTECT LOCAL PRESS FREEDOM AND IMPROVE ACCESS TO INFORMATION.

    All-time grants given statistics from Candid dataset:

    • Total Grant Value: $522,782,297
    • Number of Grants: 9,782
    • Number of Recipients: 3,492

    Selection of highest value grants given from the last seven years:

    AmountYearFunderSubject
    $28,687,5072024 Jorge M Perez Art Museum of Miami Dade County IncPROGRAM SUPPORT
    $11,403,6662022 Jorge M Perez Art Museum of Miami Dade County IncPROGRAM SUPPORT
    $8,913,6742024 Mightycause Charitable FoundationPROGRAM SUPPORT
    $8,221,7652023 Mightycause Charitable FoundationPROGRAM SUPPORT
    $5,180,3582021 Jorge M Perez Art Museum of Miami Dade County IncPROGRAM SUPPORT
    $4,000,0002020 Gs Donor Advised Philanthropy Fund for Wealth Management IncPROGRAM SUPPORT
    $2,232,9202024 Young Musicians UnitePROGRAM SUPPORT
    $2,080,6362021 Natl Compassion Fund Las VegasPROGRAM SUPPORT
    $2,050,0002020 Community Hall Foundation Program EndowmentPROGRAM SUPPORT
    $2,025,0002023 Sdg Impact Fund IncPROGRAM SUPPORT
    $1,946,2362021 Young Musicians UnitePROGRAM SUPPORT
    $1,786,4432022 Partners for Self Employment IncPROGRAM SUPPORT
    $1,590,6812021 President and Fellows of Harvard CollegePROGRAM SUPPORT
    $1,517,7892023 Partners for Self Employment IncPROGRAM SUPPORT
    $1,456,0512023 Jorge M Perez Art Museum of Miami Dade County IncPROGRAM SUPPORT
    $1,429,7912021 Florida International University Foundation, Inc.PROGRAM SUPPORT
    $1,338,7582020 Jorge M Perez Art Museum of Miami Dade County IncPROGRAM SUPPORT
    $1,300,5102020 President and Fellows of Harvard CollegePROGRAM SUPPORT
    $1,241,7342021 Edward Charles FoundationPROGRAM SUPPORT
    $1,180,4102023 Young Musicians UnitePROGRAM SUPPORT
    $1,125,0002021 Baptist Health South Florida Foundation IncPROGRAM SUPPORT
    $1,062,5002024 University of PennsylvaniaSCHOLARSHIP
    $1,040,0662024 Institute for Nonprofit NewsPROGRAM SUPPORT
    $1,016,5002020 Regents of the University of MichiganPROGRAM SUPPORT
    $993,9442021 University of MiamiCOLLEGE EDUCATION SCHOLARSHIP(S) FOR STUDENT(S) IN NEED

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    Financials, employee compensation, and grant information provided by Candid.

    Mentioned in this Article

    References

    1. “About.” Miami Foundation. Accessed May 5, 2022. https://miamifoundation.org/about/
    2. “Representative Democracy.” Democracy Fund. Accessed May 5, 2022. https://democracyfund.org/grant/representative-democracy/
    3. “The Miami Foundation for the Representative Democracy program.” Hewlett Foundation. Accessed May 5, 2022. https://hewlett.org/grants/the-miami-foundation-for-the-representative-democracy-program/
    4. “Ruth and Richard Shack Society.” Miami Foundation. Accessed May 5, 2022. https://miamifoundation.org/fordonors/ruth-and-richard-shack-society/
    5. Downing, Andy. “Donate to our NewsMatch campaign today and support nonprofit news.” Matter News. Novemeber 9, 2022. Accessed March 31, 2025. https://www.matternews.org/voices/donate-to-our-newsmatch-campaign-today-and-support-nonprofit-news
    6. “Home.” NewsMatch Powered by INN, Accessed March 31, 2025. https://newsmatch.inn.org/
    7. “2021 Annual Report.” Miami Foundation. Accessed May 5, 2022. https://miamifoundation.org/wp-content/uploads/2022/03/20220322-TMF-Annual-Report21-FINAL.pdf
    8. “INN Network Directory.” Institute for Nonprofit News. Accessed December 4, 2023. https://findyournews.org/campaign/inn-network-directory/
    9. “2024 Donors and Funders.” Aspen Journalism, Accessed March 31, 2025. https://aspenjournalism.org/aspen-journalism-donors-and-funders/
    10. “Fiscal Sponsorship Funds.” Miami Foundation. Accessed May 5, 2022.  https://miamifoundation.org/fordonors/fiscal-sponsorship-funds/
    11. Return of Organization Exempt from Income Tax (Form 990). Miami Foundation. 2023. Part I. https://projects.propublica.org/nonprofits/organizations/650350357/202402689349300135/full
    12. Return of Organization Exempt from Income Tax (Form 990). Miami Foundation. 2022. Part I. https://projects.propublica.org/nonprofits/organizations/650350357/202332659349301603/full
    13. “Rebecca Fishman Lipsey.” Miami Foundation, Accessed March 31, 2025. https://miamifoundation.org/staff/rebecca-fishman-lipsey-biography/
    14. “Erin Knight.” Miami Foundation, Accessed March 31, 2025. https://miamifoundation.org/board/ERIN-KNIGHT-biography/