Non-profit

Prince Charitable Trusts

Website:

princetrusts.org/

Location:

CHICAGO, IL

Tax ID:

36-6009208

Tax-Exempt Status:

501(c)(3)-PF

Budget (2015):

Revenue: $6,253,892
Expenses: $5,622,317
Assets: $102,109,079

The Frederick Henry Prince Testamentary Trust (Prince Charitable Trusts) is made up of three left-leaning arts and social activism funds which support both apolitical and left-leaning non-profit groups in Washington, D.C.; Newport, Rhode Island; and Chicago, Illinois. It was established in 1947 by investor Frederick Henry Prince and his wife, Abbie Norman Prince. [1]

Mission

The Prince Charitable Trusts has expanded under Prince’s descendants. The organization provided over $100 million between 2000 and 2015 in its three geographic areas of focus. Its funding has shifted toward environmental programs since 2000, especially from its D.C. office. [2]

The Trusts’ mission is to fund non-profits in the three geographic regions in which the Prince family has significant ties. Most of the Trusts’ donations are nonpolitical and go to arts, health, land conservation, and other projects. [3]

The Trusts funds religious groups that engage in secular activities, such as a chapter of Catholic Charities. It states that it does not fund groups which “discriminate” in areas such as race, gender identity, or veteran status. [4]

As of May 31, 2018, it was affiliated with a number of art, environment, homelessness, abortion, and other groups in Chicago, D.C., and elsewhere. [5]

Funding

The Prince Charitable Trusts is largely funded by asset sales and dividends from its $150 million in assets. [6][7] Most of its grants are between $10,000 and $50,000. [8] Grants make up virtually all of its expenses. [9]Examples of Grant Recipients

Many of the Trusts’ grant recipients are apolitical art, environmental, health, and social improvement organizations such as the Gruben Charitable Foundation, which was started in 2008 by Prince’s great-great-granddaughter. [10] However, a number of left-leaning groups have received grants. Looking at the Trusts’ 2014 tax returns:[11]

The Women’s Health & Education Fund, which advocates for abortion in Rhode Island, received $15,000. [12]

  • A project of the liberal media group Democracy Now received $1,500.
  • $15,000 was provided to the environmentalist social activist group DC Greens.

In 2015, the Trusts gave $10,000 to the left-leaning public policy group Center on Budget and Policy Priorities. It gave $12,500 to the eco-video group Environmental Film Festival in the Nation’s Capital and $35,000 to Planned Parenthood of Southern New England. [13]

Other liberal social activism groups which have received funding include, but are not limited to[14][15]:

Leadership

The Prince Charitable Trusts have several people in key leadership roles. [16]

Diana Prince and Patrick Wood-Prince are the Trusts’ trustees. Wood-Prince was previously a director with real estate firm Jones Lang Lasalle before launching his own company in 2018. [17]

Carolynn Brunette has been managing director since 2015. She previously held senior positions in other philanthropic organizations. [18]

Charles Twichell is Executive Director of the Trusts and has been with the organization since 1999 in several roles. He was previously in leadership roles with theater and arts entities. [19]

References

  1. Prince Charitable Trusts, Introduction, Accessed October 17, 2019. https://princetrusts.org/about-pct-overview/ ^
  2. Isaacson Miller, Prince Charitable Trusts Managing Director Job Opening, Accessed October 17, 2019. https://giving.files.wordpress.com/2015/07/prince-charitable-trusts-managing-director-washington-dc.pdf ^
  3. Isaacson Miller, Prince Charitable Trusts Managing Director Job Opening, Accessed October 17, 2019. https://giving.files.wordpress.com/2015/07/prince-charitable-trusts-managing-director-washington-dc.pdf ^
  4. Prince Charitable Trusts, Our grant-making guidelines, Accessed October 17, 2019.  https://princetrusts.org/breakdown-of-our-giving/ ^
  5. Prince Charitable Trusts, What’s important to us, Accessed October 17, 2019. https://princetrusts.org/about-pct-overview/#tous ^
  6. Isaacson Miller, Prince Charitable Trusts Managing Director Job Opening, Accessed October 17, 2019. https://giving.files.wordpress.com/2015/07/prince-charitable-trusts-managing-director-washington-dc.pdf   ^
  7. ProPublica, Frederick Henry Prince Testamentary Trust 990 page, Accessed October 17, 2019. https://projects.propublica.org/nonprofits/organizations/366009208 ^
  8. Isaacson Miller, Prince Charitable Trusts Managing Director Job Opening, Accessed October 17, 2019. https://giving.files.wordpress.com/2015/07/prince-charitable-trusts-managing-director-washington-dc.pdf ^
  9. ProPublica, Frederick Henry Prince Testamentary Trust 990 page, Accessed October 17, 2019. https://projects.propublica.org/nonprofits/organizations/366009208 ^
  10. Gruben Charitable Foundation, What we do, Accessed October 17, 2019. https://grubencharitablefoundation.org/what-we-do ^
  11. ProPublica, Frederick Henry Prince Testamentary Trust 2014 990, Accessed October 17, 2019. https://projects.propublica.org/nonprofits/display_990/366009208/2015_08_PF%2F36-6009208_990PF_201412 ^
  12. The Women’s Health & Education Fund, Main website page, Accessed October 17, 2019. https://whefri.org/ ^
  13. ProPublica, Frederick Henry Prince Testamentary Trust 2015 990, Accessed October 17, 2019.

    https://projects.propublica.org/nonprofits/display_990/366009208/2017_01_PF%2F36-6009208_990PF_201512 ^

  14. Prince Charitable Trusts, Selected Grants, Accessed October 17, 2019. https://princetrusts.org/selected-grants/ ^
  15. Kartemquin Films, “Prince Charitable Trusts fund Kartemquin,” November 16, 2015. Accessed October 17, 2019. https://kartemquin.com/news/prince-charitable-trusts-fund-kartemquin ^
  16. Prince Charitable Trusts, Team, Accessed October 17, 2019. https://princetrusts.org/team-pct/ ^
  17. LinkedIn, Patrick Wood-Prince profile page, Accessed October 17, 2019. https://www.linkedin.com/in/patrick-wood-prince-4250106/ ^
  18. LinkedIn, Carolynn Brunette profile page, Accessed October 17, 2019. https://www.linkedin.com/in/carolynnbrunette/ ^
  19. LinkedIn, Charles Twichell profile page, Accessed October 17, 2019. https://www.linkedin.com/in/charles-twichell-229a674/ ^
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Nonprofit Information

  • Accounting Period: December - November
  • Tax Exemption Received: January 1, 1900

  • 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
    2015 Dec Form PF $6,253,892 $5,622,317 $102,109,079 $1 $0 $0 $0 $0 PDF
    2014 Dec Form PF $7,563,200 $5,798,763 $108,140,447 $0 $0 $0 $0 $0 PDF
    2013 Dec Form PF $4,442,065 $4,673,122 $109,403,458 $0 $0 $0 $0 $0 PDF
    2012 Dec Form PF $4,716,874 $4,903,969 $98,273,075 $0 $0 $0 $0 $0 PDF
    2011 Dec Form PF $2,954,510 $5,218,324 $90,648,695 $0 $0 $0 $0 $0 PDF

    Additional Filings (PDFs)

    Prince Charitable Trusts

    140 S DEARBORN ST STE 1410
    CHICAGO, IL 60603-5208