Bny Mellon Charitable Gift Fund

Analysis

Bny Mellon Charitable Gift Fund is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in June 2013, 13 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, Bny Mellon Charitable Gift Fund reported income of $171.3m and spending of $117.3m, leaving 32% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $114.5m to $171.3m (+50%), an average of +11% a year. The sharpest change came in the year to December 2022, when income rose by 77%. Over the whole period it spent 37% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Bny Mellon Charitable Gift 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 100th percentile, and in the 99th percentile within MA. Charities of a similar size with the same main cause include The Community Foundation for Greater Atlanta Inc ($170.6m), Van Andel Institute ($171.8m) and The Community FDN of Middle TN Inc ($169.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 69% of the total. At year end it held assets of $496.6m against liabilities of $0, net assets of $496.6m.