Non-profit

Prospect Hill Foundation

Website:

prospect-hill.org

Location:

NEW YORK, NY

Tax ID:

13-6075567

Tax-Exempt Status:

501(c)(3)-PF

Budget (2015):

Revenue: $5,871,257
Expenses: $3,946,240
Assets: $62,524,885

Type:

Grantmaking organization

President:

John Beinecke

The Prospect Hill Foundation is a left-of-center organization which issues grants to pro-abortion, environmentalist, criminal justice reform, pro-immigration, and anti-nuclear proliferation groups. [1]

The Foundation was created in 1959, and as of 2018, it possesses $70,649,705 in assets. It issued $1,012,286 in grants to various left-of-center organizations in that year. [2]

Background

The Prospect Hill Foundation was created in 1959 by William S. Beinecke, president and chairman of the Sperry and Hutchinson Company, a company that operated a trading stamps program founded by his great uncle Thomas Sperry, of the wealthy Beinecke family. His father, Fredrick W. Beinecke, was one of the co-founders of the Plaza Hotel in New York City. [3]

In 1983 William S. Beinecke merged the Prospect Hill Foundation with his father’s Frederick W. Beinecke Fund. The organization was further augmented through the will of his mother, Carry Sperry Beinecke. [4]

Grant Making

The Prospect Hill Foundation grants in five areas: pro-abortion organizations, environmentalist organizations, pro-immigration groups, anti-nuclear proliferation organizations, and criminal justice reform organizations. [5]

Organizations supported by the Prospect Hill Foundation in 2018 include[6]:

Funding

The Prospect Hill Foundation has $70,649,705 in assets, generated $1,110,098 in revenue from dividends and interests in security, $4,736, 734 revenue from the sale of assets, and expended a total $2,609,277 on operating expenses and grants. [7]

References

  1. “About the Foundation” The Prospect Hill Foundation. http://prospect-hill.org/about-the-foundation/ ^
  2. “Return of Organization Exempt from Income Tax.” Guidestar.org. Accessed August 10, 2019, Part I, Line 25; Part II, Line 16. ^
  3. “ABOUT US – Our History” The Prospect Hill Foundation. http://fdnweb.org/beinecke/history/ ^
  4. “Annual Report 2016 – 2017” The Prospect Hill Foundation. http://prospect-hill.org/files/2019/03/PHF-Annual-Report-2016-17-webx.pdf ^
  5. “About the Foundation” The Prospect Hill Foundation. http://prospect-hill.org/about-the-foundation/ ^
  6. “Return of Organization Exempt from Income Tax.” Guidestar.org. Accessed August 10, 2019, Part XV. ^
  7. “Return of Organization Exempt from Income Tax.” Guidestar.org. Accessed August 10, 2019, Part I, Lines 1-27. ^
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Nonprofit Information

  • Accounting Period: June - May
  • Tax Exemption Received: March 1, 1961

  • 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 Jun Form PF $5,871,257 $3,946,240 $62,524,885 $0 $0 $0 $0 $0 PDF
    2014 Jun Form PF $3,700,380 $4,256,112 $65,044,949 $0 $0 $0 $0 $0 PDF
    2013 Jun Form PF $4,806,892 $3,288,537 $61,506,165 $0 $0 $0 $0 $0 PDF
    2012 Jun Form PF $3,049,844 $4,044,658 $58,932,442 $0 $0 $0 $0 $0 PDF
    2011 Jun Form PF $1,860,628 $3,758,580 $62,444,152 $0 $0 $0 $0 $0 PDF

    Additional Filings (PDFs)

    Prospect Hill Foundation

    99 PARK AVE RM 2220
    NEW YORK, NY 10016-1601