Bny Mellon Charitable Gift Fund
BNY MELLON CHARITABLE GIFT FUND PROMOTES PHILANTHROPY BY MAKING GIFTS TO QUALIFIED CHARITIES.
IRS Tax Year 2024
Period ending December 31, 2024
Total Revenue
$284.9M
Total Expenses
$729.3M
Net Assets
$2.0M
Employees
0
Volunteers
7
Grants Paid
$725.6M
Program Expense Ratio
99.5%
This nonprofit profile presents IRS Form 990 tax filing data for Bny Mellon Charitable Gift Fund (EIN: 30-0748315), based on the 2024 tax year annual return filed with the Internal Revenue Service.
Sections below include financial summaries (revenue, expenses, and net assets), program accomplishments, officer and key employee compensation, governance policies and audit information. All figures are reported in USD as filed.
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Financial Health
Transparency
Compensation
Program Effectiveness
Financial Stability
Risk Flags
Indicators derived from IRS Form 990 data. Not financial advice.
Bny Mellon Charitable Gift Fund is a 501(c)(3) nonprofit headquartered in BOSTON, MA, founded in 2012. It is classified under NTEE code T30 (Public Foundations), within the Philanthropy, Voluntarism & Grantmaking category. The organization has held tax-exempt status since 2013. In its 2024 filing, the organization reported $284.9M in total revenue, a 66.3% increase from the prior year, and $729.3M in total expenses. The organization engaged 7 volunteers. The organization runs 1 program, totaling $725.6M in program expenses. 4 of 6 recommended governance policies are in place.
Bny Mellon Charitable Gift Fund is classified under NTEE code T30 (Public Foundations), which falls within the Philanthropy, Voluntarism & Grantmaking category. Its foundation type is 15.
Programs(Tax Year 2024)
1 record
Bny Mellon Charitable Gift Fund operates 1 program, with total program expenses of $725.6M. Bny Mellon Charitable Gift Fund's largest program accounts for 100% of total program spending.
BNY MELLON CHARITABLE GIFT FUND IS A 501(C)(3) WHICH PROMOTES PHILANTHROPY BY RECEIVING CHARITABLE CONTRIBUTIONS, BY PROVIDING SUPPORT TO ENCOURAGE THE MAKING OF CHARITABLE CONTRIBUTIONS, POOLING SUCH CONTRIBUTIONS FOR INVESTMENT MANAGEMENT AND ADMINISTRATIVE PURPOSES, AND BY MAKING GIFTS TO ORGANIZATIONS WHICH ARE DEDICATED TO CHARITABLE, SCIENTIFIC, LITERARY AND EDUCATIONAL PURPOSES.
Financial Overview(Tax Years 2019–2024)
6 records
Over the past 6 years, Bny Mellon Charitable Gift Fund's revenue has grown from $114.5M to $284.9M, a 148.8% increase. Program expenses represent 99% of total spending.
Revenue increased 66.3% year-over-year, while expenses grew 521.9%. net assets fell to $2.0M, down 99.6% from the prior year.
Bny Mellon Charitable Gift Fund derives 58% from contributions and grants, with 42% from investment income.
Revenue is diversified across contributions and grants (58%), investment income (42%).
Bny Mellon Charitable Gift Fund allocates 99% to programs, 1% to management and general.
Expenses grew by 521.9%, outpacing revenue growth of 66.3% — a trend to watch if it continues.
Bny Mellon Charitable Gift Fund distributed $725.6M in grants to other organizations and individuals, representing 99% of total expenses.
Over 6 filings from 2019–2024, Bny Mellon Charitable Gift Fund grew revenue from $114.5M to $284.9M (+148.8%) while maintaining a program expense ratio of 99%.
Bny Mellon Charitable Gift Fund holds $2.0M in total assets against $0 in liabilities (debt-to-asset ratio of 0%). The organization has 0.0 months of operating reserves. Cash and equivalents of $0 cover approximately 0.0 months of expenses.
Revenue
| Year | Total Revenue | Contributions | Gov't Grants | Program Revenue | Investment |
|---|---|---|---|---|---|
| 2024 | $284.9M | $164.1M | $0 | $0 | $119.3M |
| 2023 | $171.3M | $118.3M | $0 | $0 | $51.8M |
| 2022 | $368.6M | $219.4M | $0 | $0 | $148.0M |
| 2021 | $208.3M | $136.4M | $0 | $0 | $71.0M |
| 2020 | $127.1M | $87.6M | $0 | $0 | $38.8M |
| 2019 | $114.5M | $71.5M | $0 | $0 | $42.4M |
Expenses
| Year | Total Expenses | Program | Management | Fundraising | Grants Paid |
|---|---|---|---|---|---|
| 2024 | $729.3M | $725.6M | $3.7M | $0 | $725.6M |
| 2023 | $117.3M | $114.3M | $65K | $0 | $114.3M |
| 2022 | $91.0M | $88.7M | $2.3M | $0 | $88.7M |
| 2021 | $45.5M | $43.5M | $2.0M | $0 | $43.5M |
| 2020 | $74.1M | $72.5M | $1.7M | $0 | $72.5M |
| 2019 | $39.9M | $39.0M | $931K | $0 | $39.0M |
Program Expense Ratio
99.5%
Admin Expense Ratio
0.5%
Fundraising Efficiency
—
Operating Reserve
0.0 mo
People & Compensation(Tax Year 2024)
11 records
Bny Mellon Charitable Gift Fund reported compensation for 11 officers and key employees.
| Name | Title | Type | Hours/wk | Comp from Org | Related Orgs | Total |
|---|---|---|---|---|---|---|
| GEORGE RIO | SECRETARY & DIRECTOR | OfficerDirector | 0.50 | $0 | $0 | $0 |
| WILLIAM ELCOCK | TREASURER & DIRECTOR | OfficerDirector | 0.50 | $0 | $0 | $0 |
| CARLOS BYRNE | ASST SECRETARY&ASST TREASU | Officer | 0.50 | $0 | $0 | $0 |
| CHRISTIAN TINORY | ASST TREASURER | Officer | 0.50 | $0 | $0 | $0 |
| SHARON SCARAMOZZA | ASST SECRETARY | Officer | 0.50 | $0 | $0 | $0 |
| WILLIAM MORGAN | ASST TREASURER | Officer | 0.50 | $0 | $0 | $0 |
| JOSEPH DELLO RUSSO | PRESIDENT & DIRECTOR | OfficerDirector | 0.50 | $0 | $0 | $0 |
| CYNTHIA DANES | DIRECTOR | Director | 0.50 | $0 | $0 | $0 |
| KATE TAYLOR | DIRECTOR | Director | 0.50 | $0 | $0 | $0 |
| KOMAL MISRA | DIRECTOR | Director | 0.50 | $0 | $0 | $0 |
| LAUREN MESSMORE | DIRECTOR | Director | 0.50 | $0 | $0 | $0 |
Governance & Compliance(Tax Year 2024)
Bny Mellon Charitable Gift Fund has 4 of 6 recommended governance policies in place, including conflict of interest, whistleblower, document retention. Its board has 7 members, 7 of whom are independent.
Bny Mellon Charitable Gift Fund's financial statements are audited, an audit committee oversees the process, accounting follows GAAP standards.
Policies & Oversight
Audit & Financial Oversight
Grants Awarded(Tax Year 2024)
1503 records
Bny Mellon Charitable Gift Fund awarded $720.2M across 1503 grants to organizations. Top recipients include RENAISSANCE CHARITABLE FOUNDATION INC (INDIANAPOLIS, IN) — $619.8M for to further the organization's exempt purpose; FIDELITY INVESTMENTS CHARITABLE GIFT FUND (CINCINNATI, OH) — $16.8M for to further the organization's exempt purpose; VANGUARD CHARITABLE ENDOWMENT PROGRAM (WARWICK, RI) — $5.0M for to further the organization's exempt purpose.
Organization Grants
| Recipient | Location | Amount | Purpose |
|---|---|---|---|
| RENAISSANCE CHARITABLE FOUNDATION INC352129262 | INDIANAPOLIS, IN | $619.8M | TO FURTHER THE ORGANIZATION'S EXEMPT PURPOSE |
| FIDELITY INVESTMENTS CHARITABLE GIFT FUND110303001 | CINCINNATI, OH | $16.8M | TO FURTHER THE ORGANIZATION'S EXEMPT PURPOSE |
| VANGUARD CHARITABLE ENDOWMENT PROGRAM232888152 | WARWICK, RI | $5.0M | TO FURTHER THE ORGANIZATION'S EXEMPT PURPOSE |
| THE CHURCH OF JESUS CHRIST OF LATTER-DAY SAINTS870234341 | SALT LAKE CITY, UT | $2.3M | TO FURTHER THE ORGANIZATION'S EXEMPT PURPOSE |
| SCHWAB CHARITABLE FUND311640316 | ORLANDO, FL | $1.6M | TO FURTHER THE ORGANIZATION'S EXEMPT PURPOSE |
| TABOR ACADEMY042103632 | MARION, MA | $1.5M | TO FURTHER THE ORGANIZATION'S EXEMPT PURPOSE |
| NATIONAL PHILANTHROPIC TRUST237825575 | JENKINTOWN, PA | $1.4M | TO FURTHER THE ORGANIZATION'S EXEMPT PURPOSE |
| EKADENCE LEARNING FOUNDATION874604722 | IRVINE, CA | $1.3M | TO FURTHER THE ORGANIZATION'S EXEMPT PURPOSE |
| HABITAT FOR HUMANITY911914868 | AMERICUS, GA | $1.0M | TO FURTHER THE ORGANIZATION'S EXEMPT PURPOSE |
| CHRONICLE SEASON OF SHARING FUND943019992 | SAN FRANCISCO, CA | $1.0M | TO FURTHER THE ORGANIZATION'S EXEMPT PURPOSE |
| MOUNT VERNON LADIES' ASSOCIATION OF THE UNION540564701 | MOUNT VERNON, VA | $1.0M | TO FURTHER THE ORGANIZATION'S EXEMPT PURPOSE |
| THE KURZIUS FAMILY FUND275537523 | DALLAS, TX | $1.0M | TO FURTHER THE ORGANIZATION'S EXEMPT PURPOSE |
| GOLDEN GATE NATIONAL PARKS CONSERVANCY942781708 | SAN FRANCISCO, CA | $1.0M | TO FURTHER THE ORGANIZATION'S EXEMPT PURPOSE |
| AMERICAN ENDOWMENT FOUNDATION341747398 | HUDSON, OH | $922K | TO FURTHER THE ORGANIZATION'S EXEMPT PURPOSE |
| AMERICAN NATIONAL RED CROSS530196605 | BOONE, IA | $881K | TO FURTHER THE ORGANIZATION'S EXEMPT PURPOSE |
| ABILENE CHRISTIAN UNIVERSITY750851900 | ABILENE, TX | $835K | TO FURTHER THE ORGANIZATION'S EXEMPT PURPOSE |
| RESEARCH & ROBOTICS INC873768241 | NEW BEDFORD, MA | $750K | TO FURTHER THE ORGANIZATION'S EXEMPT PURPOSE |
| LAKELAND REGIONAL HEALTH FOUNDATION592650464 | LAKELAND, FL | $750K | TO FURTHER THE ORGANIZATION'S EXEMPT PURPOSE |
| APPALACHIAN STATE UNIVERSITY FOUNDATION INC237099379 | BOONE, NC | $685K | TO FURTHER THE ORGANIZATION'S EXEMPT PURPOSE |
| MERCER UNIVERSITY580566167 | MACON, GA | $675K | TO FURTHER THE ORGANIZATION'S EXEMPT PURPOSE |
Showing 20 of 1503 grants.
Foreign Activities(Tax Year 2024)
Activities span EUROPE (INCLUDING ICELAND & GREENLAND), EAST ASIA AND THE PACIFIC, NORTH AMERICA, MIDDLE EAST AND NORTH AFRICA.
Regions & Countries
| Region / Country | Activity | Expenditure |
|---|---|---|
| EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM | — | — |
| EAST ASIA AND THE PACIFIC | — | — |
| NORTH AMERICA | — | — |
| MIDDLE EAST AND NORTH AFRICA | — | — |
Supplemental Financial Data(Tax Year 2024)
Bny Mellon Charitable Gift Fund operates a donor-advised fund (DAF) program with 1 accounts.
Filing History(Tax Years 2013–2024)
6 records
Showing the 6 Form 990 filings currently in our system.
| Tax Year | Form | Period | Revenue | Expenses | Net Assets |
|---|---|---|---|---|---|
| 2024 | 990 | 2024-01-01 – 2024-12-31 | $284.9M | $729.3M | $2.0M |
| 2023 | 990 | 2023-01-01 – 2023-12-31 | $171.3M | $117.3M | $496.6M |
| 2022 | 990 | 2022-01-01 – 2022-12-31 | $368.6M | $91.0M | $482.3M |
| 2021 | 990 | 2021-01-01 – 2021-12-31 | $208.3M | $45.5M | $342.6M |
| 2020 | 990 | 2020-01-01 – 2020-12-31 | $127.1M | $74.1M | $235.7M |
| 2019 | 990 | 2019-01-01 – 2019-12-31 | $114.5M | $39.9M | $219.2M |
| 2013–2018 | No filings acquired yet | ||||
Frequently Asked Questions
What does Bny Mellon Charitable Gift Fund do?
BNY MELLON CHARITABLE GIFT FUND PROMOTES PHILANTHROPY BY MAKING GIFTS TO QUALIFIED CHARITIES.
How much revenue does Bny Mellon Charitable Gift Fund have?
Bny Mellon Charitable Gift Fund reported $284,885,079 in total revenue for tax year 2024, up 66.3% from the prior year.
Who is the highest-paid executive at Bny Mellon Charitable Gift Fund?
GEORGE RIO, SECRETARY & DIRECTOR, received $0 in total compensation as of tax year 2024.
Is Bny Mellon Charitable Gift Fund a 501(c)(3)?
Yes, Bny Mellon Charitable Gift Fund is classified as a 501(c)(3) tax-exempt organization.
Where is Bny Mellon Charitable Gift Fund located?
Bny Mellon Charitable Gift Fund is headquartered in BOSTON, MA 2108.
What type of nonprofit is Bny Mellon Charitable Gift Fund?
Bny Mellon Charitable Gift Fund is classified under NTEE code T30 (Public Foundations), within the Philanthropy, Voluntarism & Grantmaking category. It is a 501(c)(3) tax-exempt organization.
Is Bny Mellon Charitable Gift Fund audited?
Yes, Bny Mellon Charitable Gift Fund's financial statements are audited, and the organization has an audit committee.
Does Bny Mellon Charitable Gift Fund give grants?
Yes, Bny Mellon Charitable Gift Fund distributed $725,628,666 in grants to other organizations and individuals in tax year 2024. Top recipients include RENAISSANCE CHARITABLE FOUNDATION INC, FIDELITY INVESTMENTS CHARITABLE GIFT FUND, VANGUARD CHARITABLE ENDOWMENT PROGRAM.
Does Bny Mellon Charitable Gift Fund operate internationally?
Yes, Bny Mellon Charitable Gift Fund conducts activities outside the United States. Activities span EUROPE (INCLUDING ICELAND & GREENLAND), EAST ASIA AND THE PACIFIC, NORTH AMERICA, MIDDLE EAST AND NORTH AFRICA.
Data Source
Prepared by: COHNREZNICK ADVISORY LLC, HARTFORD, CT
IRS Form 990 electronic filings via the IRS Exempt Organizations Business Master File. All financial figures are as reported in USD.
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