Ernst & Young Foundation in New York, New York (NY)

Table of contents:

Organization representatives - add corrected or new information about Ernst & Young Foundation »

Non-representatives - add comments about Ernst & Young Foundation»

Ernst & Young Foundation
Employer Identification Number (EIN)136094489
Name of OrganizationErnst & Young Foundation
In Care of NameEllen Glazerman
Address5 Times Square, New York, NY 10036-6527
ActivitiesScientific research (diseases), Contact or sponsored scientific research for industry, Other school related activities
SubsectionCharitable Organization
Ruling Date03/1959
DeductibilityContributions are deductible
FoundationOrganization that normally receives no more than one third of its support from gross investment income and unrelated business income and at the same time more than one third of its support from contributions, fees, and gross receipts related to exempt purposes
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period06/2012
Assets$10,000,000 to $49,999,999
Income$10,000,000 to $49,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$23,779,255
Amount of Income$12,833,973
Form 990 Revenue Amount$12,556,788
National Taxonomy of Exempt Entities (NTEE)Educational Institutions and Related Activities: Fund Raising and/or Fund Distribution


Non-representatives - add comments:


CAPTCHA

Your IP address 54.211.73.232 will be logged.

Amount of income in 2012: $12,833,973
Ernst & Young Foundation: 

 $12,833,973
Other organizations performing similar types of work: 

 $2,018,634

Assets in 2012: $23,779,255
This organization: 

 $23,779,255
Other organizations performing similar types of work: 

 $4,963,401

Expenses in 2007: $12,717,505
This organization: 

 $12,717,505
Other organizations performing similar types of work: 

 $2,182,028

Income to expenses ratio in 2007: 1.6
This organization: 

 1.6
Other organizations performing similar types of work: 

 1.1

Expenses allocated to program services in 2007: 99.5%
Ernst & Young Foundation: 

 99.5%
Other organizations performing similar types of work: 

 85.4%

Grants share in income in 2007: 96.1%
This organization: 

 96.1%
Other organizations performing similar types of work: 

 7.4%

Financial snapshot ($)

Revenue for 2007

Assets at end of 2007

Expenses for 2007

Functional Expenses for 2007 ($)

Income-Producing Activities for 2007

Revenue, Expenses, and Changes in Net Assets or Fund Balances
2000200120022007
Total revenue$2,974,101$7,582,861$7,137,757$20,270,301
Contributions, gifts, grants, and similar amounts received$1,903,380$6,770,671$6,480,294$19,470,512
Contributions to donor advised funds$2,626,512
Direct public support$1,903,380$6,770,671$6,480,294$16,844,000
Indirect public support$0$0$0$0
Government contributions (grants)$0$0$0$0
Program service revenue including government fees and contracts$0$0$0$0
Membership dues and assessments$0$0$0$0
Interest on savings and temporary cash investments$121,010$50,131$25,518$292,597
Dividends and interest from securities$848,160$580,327$450,315$481,392
Net rental income or (loss)$0$0$0$0
Gross rents$0$0$0$0
Less: rental expenses$0$0$0$0
Other investment income$0$0$0$0
Gain or (loss) from sales of assets other than inventory$101,551$181,732$181,630$25,800
Gross amount from sales of assets other than inventory$7,006,018$6,151,612$3,733,139$3,475,290
Less: cost or other basis and sales expenses$6,904,467$5,969,880$3,551,509$3,449,490
Net income or (loss) from special events and activities$0$0$0$0
Gross revenue$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0
Less: cost of goods sold$0$0$0$0
Other revenue$0$0$0$0
Total expenses$7,914,720$10,125,807$7,597,091$12,717,505
Program services$7,828,770$10,018,870$7,508,746$12,659,405
Management and general$85,950$106,937$88,345$58,100
Fundraising$0$0$0$0
Payments to affiliates$0$0$0$0
Net assets or fund balances at end of year$11,370,180$8,916,511$9,009,886$21,002,466
Excess or (deficit) for the year$-4,940,619$-2,542,946$-459,334$7,552,796
Net assets or fund balances at beginning of year$15,872,380$11,370,180$8,916,511$12,920,442
Other changes in net assets or fund balances$438,419$89,277$552,709$529,228
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$12,717,505$12,659,405$58,100$0
Grants paid from donor advised funds$2,348,809
Other grants and allocations$10,310,596
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$0$0$0$0
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$0$0$0$0
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$0$0$0$0
Payroll taxes$0$0$0$0
Professional fundraising fees$0$0$0$0
Accounting fees$0$0$0$0
Legal fees$0$0$0$0
Supplies$0$0$0$0
Telephone$0$0$0$0
Postage and shipping$0$0$0$0
Occupancy$0$0$0$0
Equipment rental and maintenance$0$0$0$0
Printing and publications$0$0$0$0
Travel$0$0$0$0
Conferences, conventions, and meetings$0$0$0$0
Interest$0$0$0$0
Depreciation, depletion, etc.$0$0$0$0
Other expenses not covered above$58,100$0$58,100$0
Balance Sheets
2000200120022007
Total assets$12,155,825$10,572,618$10,711,838$26,099,414
Cash - non-interest-bearing$0$557,663$0$0
Savings and temporary cash investments$694,182$1,196,549$1,062,874$16,071,350
Accounts receivable less allowance for doubtful accounts$0$0$0$0
Pledges receivable less allowance for doubtful accounts$0$0$0$0
Grants receivable$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0
Other notes and loans receivable less allowance for doubtful accounts$0$0$0$0
Inventories for sale or use$0$0$0$0
Prepaid expenses and deferred charges$0$0$0$0
Investments - publicly-traded securities$9,886,518
Investments - other securities$11,314,232$8,693,908$9,537,552$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0
Investments - other$0$0$0$0
Land, buildings, and equipment less accumulated depreciation$0$0$0$0
Other assets, including program-related investments$147,411$124,498$111,412$141,546
Total liabilities$785,645$1,656,107$1,701,952$5,096,948
Accounts payable and accrued expenses$0$0$0$0
Grants payable$630,506$1,656,107$1,368,936$5,096,948
Deferred revenue$0$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0
Mortgages and other notes payable$0$0$0$0
Other liabilities$155,139$0$333,016$0
Total liabilities and net assets/fund balances$12,155,825$10,572,618$10,711,838$26,099,414
Total net assets or fund balances$11,370,180$8,916,511$9,009,886$21,002,466
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
2000200120022007
Total revenue$2,974,101$7,582,861$7,137,757$20,270,301
Total revenue, gains, and other support per audited financial statements$1,254,157$2,160,554$5,416,044$21,276,440
Other expenses$847,730$605,369$1,022,221$1,006,139
Net unrealized gains on investments$438,419$89,277$359,465$529,228
Donated services and use of facilities$409,311$516,092$469,512$476,911
Recoveries of prior year grants$0$0$0$0
Other$0$0$193,244$0
Other revenue$2,567,674$6,027,676$2,743,934$0
Investment expenses$0$0$0$0
Other$2,567,674$6,027,676$2,743,934$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
2000200120022007
Total expenses$7,914,720$10,125,807$7,597,091$12,717,505
Total expenses and losses per audited financial statements$8,324,031$10,641,899$8,066,603$13,194,416
Other revenue$409,311$516,092$469,512$476,911
Donated services and use of facilities$409,311$516,092$469,512$476,911
Prior year adjustments$0$0$0$0
Losses$0$0$0$0
Other$0$0$0$0
Other expenses$0$0$0$0
Investment expenses$0$0$0$0
Other$0$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings7
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?Yes
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?No
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 20060
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$799,789$0
Program service revenue
Program service revenue 1000000$000$0$0
Program service revenue 2000000$000$0$0
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$292,597$0
Dividends and interest from securities000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$481,392$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$0Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))$25,800$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0000000000%$0$0
0000000000%$0$0
0000000000%$0$0
0000000000%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?Yes
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?Yes
Enter the total number of donor advised funds owned at the end of the tax year$322
Enter the aggregate value of assets held in all donor advised funds owned at the end of the tax year$10,258,000
Enter the total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
Enter the aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isOrganization that receives a substantial part of its support from a governmental unit or from the general public
Support Schedule
1999200020012006
Total$15,622,938$2,827,427$7,265,043$9,655,498
Gifts, grants, and contributions received$14,928,829$1,803,131$6,611,672$8,993,744
Membership fees received$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$694,109$1,024,296$653,371$643,565
Net income from unrelated business activities not included above$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0
Other income$0$0$0$18,189
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
Statements Regarding Other IRS Filings and Tax Compliance (for 2011)
Did the organization have unrelated business gross income of $1,000 or more during the year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2011)
Total revenue$11,993,466
Contributions, Gifts, Grants and Other Similar Amounts$11,727,859
Program Service Revenue$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$221,225
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental income$0
Net gain from sales of assets other than inventory$44,382
Gross amount from sales of assets other than inventory (Securities / Other)$2,025,344 / $0
Less: cost or other basis and sales expenses (Securities / Other)$1,980,962 / $0
Gain or (loss) (Securities / Other)$44,382 / $0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous Revenue$0
Statement of Functional Expenses (for 2011)
Total functional expenses$10,559,599
Compensation of current officers, directors, trustees, and key employees$0
Other salaries and wages$0
Payroll taxes$0
Professional fundraising services$0
Other$10,559,599
Balance Sheet (for 2011)
Total assets$22,926,591
Total liabilities$2,349,543
Tax-exempt bond liabilities$0
Secured mortgages and notes payable to unrelated third parties$0
Unsecured notes and loans payable to unrelated third parties$0
Other$2,349,543
Total net assets or fund balances$20,577,048
Retained earnings, endowment, accumulated income, or other funds$0
Reason for Public Charity Status (for 2011)
The organization is not a private foundation because it is:An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi)
Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2011)
2007 - 2011 Total
Total Support$64,066,383
Gifts, grants, contributions, and membership fees received$61,532,114
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$0
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$2,534,269
Gross receipts from related activities, etc.$0
Write your review!

Your Ratings

You can rate this nonprofit in different categories from 1 star (worst) to 5 stars (best) or leave category unrated

Program:
Fundraising:
Expenses:
Transparency:

Your Review


Would you recommend Ernst & Young Foundation to others? (optional)
  
Add photo of Ernst & Young Foundation (optional)

About You

Your nickname:

Optional Verification

(additional info to increase the weight and the placement of your review and ratings)

Sign in with Twitter
Real Name:
Email (won't be published):
Date and time of your visit to this nonprofit:
Phone number (won't be published):
Leave your signature»


Recently Added Reviews
Real News Project Inc in New York, NY
*****
Grand Street Boys Association Inc in New York, NY
*****
American Supporters Of Yedid Inc in New York, NY
*****
Vital Projects Fund Inc in New York, NY
Jack & Jill Of America Inc, Metropolitan Ny Chapter in New York, NY
*****
Cent For Urban Commungity Svcs in New York, NY
Len Camber Charitable Trust, Manger Robert L Ttee in New York, NY
*****
Three Goats Organization in New York, NY
****•
Hope In Life Church Inc in Carmel, NY
Capabilities Partnership Inc in West Nyack, NY
****•
Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Nellie Mae Education Foundation Inc1250 Hancock St Ste 205n, Quincy, MA 02169-4337MA1988-09$277,485,897
2U W Eugene Higgins Charity 336710PO BOX 1802, Providence, RI 02901-1802RI1976-04$247,700,626
3Voluntary Interdistrict Choice Corporation7425 Forsyth Blvd Suite 110, St Louis, MO 63105MO1999-10$61,175,620
4Caroline & Joseph S Gruss Life Monument Funds Inc45 Broadway Ste 3050, New York, NY 10006-3748NY1991-06$59,889,370
5The Cullen Trust For Higher Education601 Jefferson St Ste 3600, Houston, TX 77002-7906TX1979-01$55,390,915
6The Hodson Scholarship Foundation IncPO BOX 2205, Wilmington, DE 19899-2205DE1994-02$47,760,123
7Miller Endowment Incorporated1350 Beardshear Iowa State, Ames, IA 50011-2038IA1996-03$45,697,151
8Bnai Brith Hillel Foundation800 Eighth Street Nw, Washington Dc, DC 20001DC1951-01$37,238,550
9Fund For Public Schools Inc52 Chambers St, New York, NY 10007-1222NY1984-01$33,848,638
10Arizona Capital Facilities Finance CorporationPhoenix, AZ 85012AZ$27,551,213
11Pennington Medical Foundation6400 Perkins Rd, Baton Rouge, LA 70808-4124LA1980-03$23,271,783
12H C Drew EstatePO BOX 125, Lake Charles, LA 70602-0125LA1986-11$16,194,832
13Mr & Mrs E H Sumners FoundationPO BOX 23100, Jackson, MS 39225-3100MS1979-06$15,474,309
14Institute For Supply Management Inc2055 E Centennial Cir, Tempe, AZ 85284-1802AZ1983-01$15,245,915
15Sandia Foundation6211 San Mateo Blvd Ne Suite 100, Albuquerque, NM 87109-3551NM1957-10$14,648,692
16Ernst & Young Foundation5 Times Square, New York, NY 10036-6527NY1959-03$12,833,973
17Ralph W & Grace M Showalter Research Trust FundC/O Jpmorgan Chase Bk 10 S Dearborn, Chicago, IL 60603IL1973-09$12,377,635
18Mississippi Power Education Foundation IncPO BOX 4079, Gulfport, MS 39502-4079MS1986-04$11,437,205
19Campus Development Foundation Inc615 Mccallie Ave, Chattanooga, TN 37403-2504TN2000-07$10,799,281
20American Friends Of Yeshiva Shaarei Yerushalayim13726 73rd Ter, Flushing, NY 11367-2304NY1989-09$104,191
Number of organizations performing similar types of work
Arkansas1
Arizona2
California14
Colorado3
Connecticut1
District of Columbia4
Delaware1
Florida3
Georgia3
Iowa6
Illinois4
Indiana1
Kansas1
Kentucky2
Louisiana2
Massachusetts3
Maryland4
Maine1
Michigan4
Minnesota2
Missouri1
Mississippi2
North Carolina4
New Hampshire1
New Jersey4
New Mexico2
Nevada1
New York7
Ohio3
Oregon2
Pennsylvania2
Rhode Island2
South Dakota1
Tennessee4
Texas6
Virginia2
Vermont1
Washington4
Wisconsin4
Total115

faqs.org is not associated with, endorsed by, or sponsored by Ernst & Young Foundation and has no official or unofficial affiliation with Ernst & Young Foundation