Non-profit

Richard King Mellon Foundation

Website:

www.rkmf.org/

Location:

Pittsburgh, PA

Tax ID:

25-1127705

Tax-Exempt Status:

501(c)(3)-PF

Budget (2015):

Revenue: $151,863,759
Expenses: $125,494,459
Assets: $2,040,762,857

Type:

Private Foundation

Founded:

1947

Chairman & CEO:

Richard A. Mellon

The Richard King Mellon Foundation (RKMF) is the largest foundation in southwestern Pennsylvania, and one of the 50 largest in the world. Its 2020 endowment was valued at $3.1 billion. [1]

The foundation focuses on improving the economy and well-being of southwestern Pennsylvania and on environmental conservation across the United States. [2]

The RKMF leadership continues to pass through the Mellon family from father to son, starting with founder Richard King Mellon to eldest son Richard P. Mellon, to son Seward Prosser Mellon, and to grandson Richard A. Mellon as of January 31, 2022. [3]

The 2021 to 2020 ten-year strategic plan has an added emphasis on social impact investments. [4]

Background

The Richard King Mellon Foundation (RKMF) was founded by Richard King Mellon, president and chairman of Mellon National Bank, in 1947. [5] He died in 1970. [6] Mellon’s wife Constance Mary Prosser was the foundation’s chairman of the board from 1947 until she died in 1980. [7] RKMF focused investments on improving the competitive future and quality of life in southwestern Pennsylvania, and in national environmental conservation. [8]

From 1981 to 2009, Richard P. Mellon, eldest son of Richard King Mellon, chaired the foundation. He continued to focus investments on land conservation and turned towards scientific and medical research to increase economic growth in southwestern Pennsylvania. [9]

From 2009 to 2019, Seward Prosser Mellon, son of Richard King Mellon, continued to expand the foundation’s investments into conservation of the nation’s natural resources, while regional investments in southwestern Pennsylvania addressed poverty and homelessness, economic development, and academic research and scholarship programs. [10]

Richard A. Mellon, grandson of Richard King Mellon, was named chairman and CEO effective July 1, 2019. [11] The foundation’s ten-year strategic plan for 2021 to 2030 continues to follow a similar approach, with a continued investment focus on environmental conservation across the United States, and a regional focus on southwestern Pennsylvania, with the identification of new program areas that focus on social impact. [12]

Grantees

RKMF focuses on southwestern Pennsylvania, particularly Pittsburgh. The foundation’s 2019 tax return lists 221 separate contributions, with all but 23 recipients located in Pennsylvania. [13]

In 2020, RKMF awarded more than $34.5 million for regional COVID recovery, and awarded a total of $130 million. [14]

In 2021, RKMF approved $372 million in grants and investments, which was the largest amount in the history of the foundation. [15]

On January 20, 2021, the foundation presented its ten-year strategic plan for 2021 to 2030. Economic development in southwestern Pennsylvania and national conservation continue to be key program areas. Economic mobility for children and youth and health and well-being in southwestern Pennsylvania are two new program areas. Social impact investments and organizational effectiveness are two new initiatives that apply to all four program areas. [16]

Social impact investments program is a new focus for RKMF in 2021. Through this program, the foundation plans to invest up to $50 million over the next 10 years into for-profit startups that are aimed at addressing social needs. In January 2022, RKMF awarded $3.39 million to 16 startups as an initial step for this program. [17] The highest grant was awarded to Fabric Health, a startup that seeks to provide health care for people in need through laundromats in southwestern Pennsylvania. [18]

Organizational effectiveness focuses on investments in nonprofits to make improvements in their organizations and in their overall effectiveness; [19] 2021 grantees in this area include the African American Cultural Center and Neighborhood Allies, both in Pittsburgh, Pennsylvania. [20]

Financials

Richard King Mellon Foundation’s 2019 tax return indicates total expenses of $139,482,902. Of that, $119,842,952, or 86 percent was contributions, gifts, and grants. [21]

In 2020, RKMF allocated $130 million in grants. [22] The board has approved $372 million in grants for 2021. [23]

Leadership

Richard A. Mellon, grandson of Richard King Mellon, became chairman and CEO on July 1, 2019. [24] Mellon was founder and President of RAM Transit, Inc., a trucking and logistics company that he sold in 2012. [25]

Constance Elizabeth Mellon Kapp is president. [26] She is the daughter of former president and CEO Seward Prosser Mellon. [27]

Sam Reiman was appointed director, the top staff leadership position, on January 1, 2019. [28] Reiman is a trustee of RKMF and of Carnegie Mellon University. He serves multiple board memberships, including public benefit corporation Sixup, Alleghany Conference on Community Development, and the Pittsburgh Cultural Trust. [29]

References

  1. “Carnegie Mellon University Receives Record $150 Million Gift From Richard King Mellon Foundation.” Forbes. May 20, 2021. Accessed January 29, 2022. https://www.forbes.com/sites/michaeltnietzel/2021/05/20/carnegie-mellon-university-receives-record-150-million-gift-from-richard-king-mellon-foundation/?sh=3196c0214924 ^
  2. “Richard King Mellon Foundation Unveils 10-Year Strategic Plan.” Richard King Mellon Foundation. January 27, 2021. Accessed January 29, 2022. https://www.rkmf.org/news_posts/richard-king-mellon-foundation-unveils-10-year-strategic-plan ^
  3. “Richard King Mellon Foundation Unveils 10-Year Strategic Plan.” Richard King Mellon Foundation. January 27, 2021. Accessed January 29, 2022. https://www.rkmf.org/news_posts/richard-king-mellon-foundation-unveils-10-year-strategic-plan ^
  4. “Richard King Mellon Foundation Unveils 10-Year Strategic Plan.” Richard King Mellon Foundation. January 27, 2021. Accessed January 29, 2022. https://www.rkmf.org/news_posts/richard-king-mellon-foundation-unveils-10-year-strategic-plan ^
  5. “History.” Richard King Mellon Foundation. Accessed January 29, 2022. https://www.rkmf.org/pages/history ^
  6. “New chair and CEO at R.K. Mellon Foundation.” Pittsburgh Business Times. June 25, 2019. Accessed January 30, 2022. https://www.bizjournals.com/pittsburgh/news/2019/06/25/new-chair-and-ceo-at-r-k-mellon-foundation.html ^
  7. History.” Richard King Mellon Foundation. Accessed January 29, 2022. https://www.rkmf.org/pages/history ^
  8. “The Torch is Passed.” Pittsburgh Quarterly. June 28, 2019. Accessed January 31, 2022. https://pittsburghquarterly.com/articles/the-torch-is-passed/ ^
  9. “Richard King Mellon Foundation Remembers the Late Richard P. Mellon.” Richard King Mellon Foundation. August 5, 2020. Accessed January 31, 2021. https://www.rkmf.org/news_posts/richard-king-mellon-foundation-remembers-the-late-richard-p-mellon ^
  10. “Richard A. Mellon Succeeds Seward Prosser Mellon as Board Chairman and CEO of Richard King Mellon Foundation and R.K. Mellon Family Foundation.” PR Newswire. June 25, 2019. Accessed January 28, 2022. https://www.prnewswire.com/news-releases/richard-a-mellon-succeeds-seward-prosser-mellon-as-board-chairman-and-ceo-of-richard-king-mellon-foundation-and-rk-mellon-family-foundation-300874444.html ^
  11. “Richard A. Mellon Succeeds Seward Prosser Mellon as Board Chairman and CEO of Richard King Mellon Foundation and R.K. Mellon Family Foundation.” PR Newswire. June 25, 2019. Accessed January 28, 2022. https://www.prnewswire.com/news-releases/richard-a-mellon-succeeds-seward-prosser-mellon-as-board-chairman-and-ceo-of-richard-king-mellon-foundation-and-rk-mellon-family-foundation-300874444.html ^
  12. “Richard King Mellon Foundation Unveils 10-Year Strategic Plan.” Richard King Mellon Foundation. January 27, 2021. Accessed January 29, 2022. https://www.rkmf.org/news_posts/richard-king-mellon-foundation-unveils-10-year-strategic-plan ^
  13. Richard King Mellon Foundation. Return of Private Foundation. (Form 990-PF – Part XV). 2019. ^
  14. “2020 Annual Report.” Richard King Mellon Foundation. Accessed January 31, 2022. https://www.rkmf.org/media/W1siZiIsIjIwMjEvMDYvMTYvOTV5YmxkNnNjaV8yMDIwX0FubnVhbF9SZXBvcnQucGRmIl1d/2020%20Annual%20Report.pdf ^
  15. “Pittsburgh’s biggest foundation approves record $372M in grants, investments in 2021.” Pittsburgh Business Times. December 16, 2021. Accessed January 30, 2022. https://www.bizjournals.com/pittsburgh/news/2021/12/16/rkmellon-approves-record-grants.html ^
  16. “Richard King Mellon Foundation Unveils 10-Year Strategic Plan.” Richard King Mellon Foundation. January 27, 2021. Accessed January 29, 2022. https://www.rkmf.org/news_posts/richard-king-mellon-foundation-unveils-10-year-strategic-plan ^
  17. “Richard King Mellon Foundation awards $3.39M to winners of its first startup pitch competition.” Pittsburgh Business Times. January 26, 2022. Accessed January 30, 2022. https://www.bizjournals.com/pittsburgh/inno/stories/fundings/2022/01/26/rk-mellon-foundation-pitch-competition-winners.html ^
  18. “RKMF Announces the Winners of its $1 Million Pitch Competition.” Richard King Mellon Foundation. January 26, 2022. Accessed January 31, 2022. https://www.rkmf.org/news_posts/rkmf-announces-the-winners-of-its-1-million-pitch-competition ^
  19. “Richard King Mellon Foundation Unveils 10-Year Strategic Plan.” Richard King Mellon Foundation. January 27, 2021. Accessed January 29, 2022. https://www.rkmf.org/news_posts/richard-king-mellon-foundation-unveils-10-year-strategic-plan ^
  20. “Grants.” Richard King Mellon Foundation. Accessed January 31, 2022. https://www.rkmf.org/grants ^
  21. Richard King Mellon Foundation. Return of Private Foundation. (Form 990-PF – Part I). 2019. ^
  22. “2020 Annual Report.” Richard King Mellon Foundation. Accessed January 31, 2022. https://www.rkmf.org/media/W1siZiIsIjIwMjEvMDYvMTYvOTV5YmxkNnNjaV8yMDIwX0FubnVhbF9SZXBvcnQucGRmIl1d/2020%20Annual%20Report.pdf ^
  23. [1] “Pittsburgh’s biggest foundation approves record $372M in grants, investments in 2021.” Pittsburgh Business Times. December 16, 2021. Accessed January 30, 2022. https://www.bizjournals.com/pittsburgh/news/2021/12/16/rkmellon-approves-record-grants.html ^
  24. “New chair and CEO at R.K. Mellon Foundation.” Pittsburgh Business Times. June 25, 2019. Accessed January 30, 2022. https://www.bizjournals.com/pittsburgh/news/2019/06/25/new-chair-and-ceo-at-r-k-mellon-foundation.html ^
  25. “Richard A. Mellon Succeeds Seward Prosser Mellon as Board Chairman and CEO of Richard King Mellon Foundation and R.K. Mellon Family Foundation.” PR Newswire. June 25, 2019. Accessed January 28, 2022. https://www.prnewswire.com/news-releases/richard-a-mellon-succeeds-seward-prosser-mellon-as-board-chairman-and-ceo-of-richard-king-mellon-foundation-and-rk-mellon-family-foundation-300874444.html ^
  26. “Board of Trustees & Officers.” Richard King Mellon Foundation. Accessed January 29, 2022. https://www.rkmf.org/pages/board-of-trustees ^
  27. “Mellons in Pittsburgh.” Old Post Gazette. July 1, 2007. Accessed January 31, 2022. https://old.post-gazette.com/downloads/20070701Mellon_tree_fix.pdf ^
  28. “Richard King Mellon Foundation Elects Sam Reiman to its Board of Trustees.” Richard King Mellon Foundation. June 24, 2020. Accessed January 31, 2022. https://www.rkmf.org/news_posts/richard-king-mellon-foundation-elects-sam-reiman-to-its-board-of-trustees ^
  29. “Sam Reiman.” LinkedIn. Accessed January 31, 2022. https://www.linkedin.com/in/sam-reiman-8588bb23/ ^
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Nonprofit Information

  • Accounting Period: December - November
  • Tax Exemption Received: February 1, 1949

  • 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 $151,863,759 $125,494,459 $2,040,762,857 $87,029,172 $0 $0 $0 $0 PDF
    2014 Dec Form PF $280,495,380 $127,606,870 $1,988,792,294 $44,891,337 $0 $0 $0 $0 PDF
    2013 Dec Form PF $173,661,730 $115,995,253 $1,825,341,871 $45,043,106 $0 $0 $0 $0 PDF
    2012 Dec Form PF $140,976,939 $102,659,922 $1,767,444,979 $34,789,582 $0 $0 $0 $0 PDF
    2011 Dec Form PF $140,113,195 $102,983,291 $1,722,893,022 $22,455,703 $0 $0 $0 $0 PDF

    Additional Filings (PDFs)

    Richard King Mellon Foundation

    500 Grant Street Suite 4106
    Pittsburgh, PA 15219-2502