The Bessemer Giving Fund

Analysis

The Bessemer Giving Fund is a registered charity in United States, based in Woodbridge, NJ. It received its IRS tax-exemption ruling in May 1998, 28 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, The Bessemer Giving Fund reported income of $145.4m and spending of $131.0m, spending 90% of its income. Across the 6 years on record, from December 2018 to December 2023, income fell from $242.4m to $145.4m (-40%), an average of -9.7% a year. The sharpest change came in the year to December 2022, when income dropped by 62%. Over the whole period it spent 62% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, The Bessemer Giving Fund sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 100th percentile within NJ. Charities of a similar size with the same main cause include Community Foundation of Northwest Indiana Inc ($144.6m), Signatry Charitable Trust ($145.4m) and The Community Foundation of Louisville Inc ($143.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 91% of the total. Compensation of current officers, directors and key employees was $45k (0.0% of expenses). At year end it held assets of $736.2m against liabilities of $0, net assets of $736.2m.