The Herbert Allen Foundation is a private, non-operating corporate foundation established in 1994 and based in New York City. The foundation was founded by Herbert Anthony Allen III, president and CEO of Allen & Co., LLC, a boutique investment banking firm. As a 501(c)(3) organization, the foundation makes grants to charitable organizations across multiple sectors.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$8.4M
-4.9% YoY
Annual Giving
$515K
+2.0% YoY
Grant Count
17
+13.3% YoY
Avg Grant Size
$30K
-10.0% YoY
Mission & Focus Areas
The foundation's grantmaking priorities include:
- Education: Particular emphasis on K-12 education, charter schools, and youth development
- Human Services: Support for various human services organizations
- Healthcare: Funding for hospital and health-related organizations
- Emerging Interests: Conservation and animal welfare
The foundation maintains a low public profile and does not maintain a website, which limits publicly available information on its specific grantmaking priorities and activities.
Grantmaking
The foundation tends to support the same grantees year after year. Charter school organizations have historically received the lion's share of funding. Prep for Prep, a charter school network in New York City where Allen serves on the board, has received over $750,000 in grant funding since 2004.
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Geographic Focus
Where this funder awards grants
The foundation primarily funds organizations in the New York City area and the greater New York region.
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
As of 2023:
- Total Assets: $8.88 million
- Total Revenue: $527,000
- Total Expenses: $511,000
- Total Liabilities: $0
Revenue Composition (2023):
- Investment income and dividends: $294,264
- Net gain from sale of non-inventory assets: $232,575
Historical Assets (2013):
- Asset range: $5,000,000 to $9,999,999
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $8,442,254 | $8,880,605 | $8,865,243 |
| Revenue | $83,639 | $526,839 | $131,924 |
| Expenses | $521,990 | $511,477 | $490,193 |
| Qualifying Distributions | $517,147 | $507,668 | $490,193 |
| Net Investment Income | $325,472 | $526,839 | $131,924 |
| Distributable Amount | $750,787 | $644,812 | $644,373 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
90 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
- Herbert A. Allen III: Founder, President, and CEO of Allen & Co., LLC; Yale University graduate (B.A., 1989); serves on the board of Prep for Prep
- Bradley A. Roberts: Trustee
- Howard Felson: Trustee
- Robert Werbel: Listed as in care of name on foundation records
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| HERBERT A ALLEN III | PRESIDENT; DIRECTOR | 1 | — |
| BRADLEY A ROBERTS | TREAS-SECRETARY; DIRECTOR | 1 | — |
| ISAAC KESCHNER | VICE PRESIDENT; ASST. SECRETARY | 1 | — |
Recent News & Activity
Recent developments and announcements
The foundation's recent grantmaking reflects an emerging interest in environmental and animal welfare causes, in addition to its traditional focus on education and human services. However, the foundation maintains a low public profile with limited public announcements of grant awards.
Dudamel Foundation Receives $1 Million Grant from the Herb Alpert Foundation\Subject Areas
Focus areas based on grantmaking activity
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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