Hess Foundation Inc
Hess Foundation Inc is a private foundation based in Parsippany, New Jersey. It reported 141 grants totaling $63,385,033 in 2024. Its grants included support for educational, health, arts and cultural, and other charitable organizations.
Hess Foundation Inc at a glance
In short: Hess Foundation Inc gave $63.4M across 141 grants in 2024 (avg $450K), mostly in Pennsylvania. 26% of 2024 grantees were new. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $63,385,033
- +54.7% vs 2023
- Grants made (2024)
- 141
- +4.4% vs 2023
- Average grant
- $449,539
- +48.1% vs 2023
- Median grant
- $50,000
- Total assets
- $219,214,101
- +3.9% vs 2023
- New grantees (estimate)
- 26% first-time grantees (37 of 141, 2024)
- Primary geography
- Pennsylvania (65% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990-PF, 2024 View filing
Data from IRS Form 990-PF, 2024; updated October 2026. New grantees are estimated by matching recipient names across years (methodology).
How to apply to Hess Foundation Inc
- Accepts unsolicited proposals
- No
- How to Apply
-
The foundation makes contributions only to preselected charitable organizations and does not accept unsolicited requests for funds.
- Contact
Mailing address: 14 Sylvan Way 3Rd Fl, Parsippany, NJ 07054
Phone: (973) 403-7997
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who Hess Foundation Inc funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
The largest 2024 recipient was Icahn School of Medicine ($20.1M). Together the top 10 received $50.2M.
Grant Size Distribution
703 grants across all recorded years
The most common grant size was under $50K: 368 grants of 703 (52%).
Geographic Focus
Where this funder awards grants
In 2024, grant dollars were distributed by recipient state as follows: Pennsylvania, 65%; Massachusetts, 18%; New York, 7%; District of Columbia, 5%; and California, 3%.
Grant Distribution by State
Share of 2024 grant dollars across all 141 itemized grants.
States
Cities
Is Hess Foundation Inc open to new grantees?
26%
first-time grantees, 2024
In 2024, 37 of 141 grantees (26%) were first-time recipients. First grants averaged $243K; repeat grants $523K. How we count
Medians: $25K first-time, $53K repeat.
- 68% of 2024 grantees were also funded in 2023. Method
- Giving grew 26% from 2021 to 2024. Method
- In 2024 it paid out 116% of its IRS minimum distribution (the 5% rule). Method
Estimate from itemized grant lists in IRS Form 990-PF filings (2020–2024). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2024, annual grant giving ranged from $32.9M (2022) to $63.4M (2024). In 2024 it made 141 grants totaling $63.4M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Icahn School of Medicine New York, PA | The raquel and jaime gilinski department of obstetrics, gynecology and reproductive science and unrestricted purposes | $20,150,000 |
| Steppingstone Foundation Boston, MA | Endowment for Staff Salaries and Unrestricted Purposes | $5,333,333 |
| Harvard Business School Cambridge, MA | John b. Hess fund for innovation and leadership, the hbs dean's honorary endowment for business and society and unrestricted purposes | $5,150,000 |
| College of Physicians of Philadelphia Philadelphia, PA | An unrestricted grant to further the donee's exempt purpose. | $5,000,000 |
| Lincoln Ctr for the Performing Arts New York, PA | For the design, reconstruction and endowment of david geffen hall and unrestricted purposes | $4,350,000 |
| Philadelphia Orchestra Philadelphia, PA | An unrestricted grant to further the donee's exempt purpose. | $4,000,000 |
| Center for Strategic & International Studies Washington, DC | An unrestricted grant to further the donee's exempt purpose. | $2,000,000 |
| Franklin Institute Philadelphia, PA | Earth Systems Exhibit and Unrestricted Purposes | $1,600,000 |
| CP 2023 Philadelphia, PA | An unrestricted grant to further the donee's exempt purpose. | $1,500,000 |
| Park Avenue Synagogue New York, NY | An unrestricted grant to further the donee's exempt purpose. | $1,150,000 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2024 | $219,214,101 | $43,181,035 | $74,400,800 | $63,385,033 | 141 | $64,170,732 | $13,329,407 | $55,140,692 |
| 2023 | $211,018,720 | $21,567,732 | $48,984,192 | $40,981,500 | 135 | $41,574,029 | $9,970,999 | $52,956,332 |
| 2022 | $195,435,180 | $50,742,841 | $35,551,503 | $32,866,500 | 128 | $33,293,046 | $28,242,796 | $41,631,737 |
| 2021 | $164,543,842 | $48,427,189 | $52,151,221 | $50,369,500 | 136 | — | $26,093,069 | $29,830,844 |
| 2020 | $143,967,874 | $35,298,919 | $35,831,727 | $34,446,500 | 163 | — | $12,515,775 | $21,701,044 |
Under IRS private-foundation payout rules, Hess Foundation Inc reported a distributable amount of $55.1M for 2024 — the minimum it must pay out in qualifying distributions.
Research compiled by Grantable AI from public sources. Last updated September 2026.
Mission & Focus Areas
No mission statement for the foundation is provided. Its 2024 grants show support for a range of organizations and purposes, including medical research and education, college access, the arts, and public policy. For example, Steppingstone Foundation says it prepares students to access, navigate, and graduate from college; the USTA Foundation says it brings tennis and education together, with particular emphasis on under-resourced youth; and Kode With Klossy says it creates learning experiences for young women and gender-expansive youth in a tech-driven world.
Other 2024 recipients describe their work as presenting and supporting American art (Whitney Museum of American Art), connecting innovative leaders through fellowships (Eisenhower Fellowships), helping families cope with the emotional impact of illness (Ryan’s Case for Smiles), and creating parks and protecting land for people (The Trust for Public Land).
Grantmaking
In 2024, the foundation made 141 grants totaling $63,385,033. Grant amounts ranged from $1,000 to $20,150,000, with a median of $50,000. Among the largest grants were $20,150,000 to Icahn School of Medicine, $5,333,333 to Steppingstone Foundation, $5,150,000 to Harvard Business School, $5,000,000 to the College of Physicians of Philadelphia, and $4,350,000 to Lincoln Center for the Performing Arts.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2024 filing lists Constance Williams as director and vice president; Eugene W. Goodwillie Jr. as outgoing director and treasurer; John B. Hess as director and president; and Thomas H. Kean as director and secretary.
Hess Foundation Inc's 2024 filing lists 4 officers; none of the 4 officers listed in 2024 report compensation.
Officers on the 2024 filing
John B Hess CO Hess Foundation
Director & President
On filings since 2020
5 hrs/week
No compensation reported
Constance Williamsco Hess Foundatn
Director & Vice President
On filings since 2020
1 hr/week
No compensation reported
Eugene Wgoodwillie Jr Co Hess Fnd
Outgoing Director & Treasurer
Director & Treasurer → Outgoing Director & Treasurer, 2024
On filings since 2020
2 hrs/week
No compensation reported
Thomas H Kean CO Hess Foundation
Director & Secretary
On filings since 2020
1 hr/week
No compensation reported
Data from IRS Form 990 filings, 2020–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Frequently asked questions about Hess Foundation Inc
How much does Hess Foundation Inc give each year?
Hess Foundation Inc gave $63.4M across 141 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $41.0M across 135 grants.
What is Hess Foundation Inc's typical grant size?
Hess Foundation Inc's median grant in 2024 was $50,000, and its average grant was $449,539, across 141 grants on its 2024 IRS Form 990-PF. Organizations receiving their first grant from Hess Foundation Inc that year got $243K on average.
Where does Hess Foundation Inc give grants?
Hess Foundation Inc gives mostly in Pennsylvania: 65% of the grant dollars itemized on its 2024 IRS Form 990-PF went to recipients there. The next largest states were Massachusetts (18%) and New York (7%). The most frequent recipient cities were Philadelphia, PA (53 grants), New York, NY (13 grants), Washington, DC (11 grants) and Ardmore, PA (6 grants).
Does Hess Foundation Inc give general operating support?
Yes: 96% of Hess Foundation Inc's 2024 grants with a stated purpose (135 of 141) were for general or operating support, per its 2024 IRS Form 990-PF.
Who are Hess Foundation Inc's largest grantees?
Hess Foundation Inc's largest 2024 grantees include Icahn School of Medicine ($20,150,000), Steppingstone Foundation ($5,333,333) and Harvard Business School ($5,150,000), according to its 2024 IRS Form 990-PF. Together they received 48% of its itemized 2024 grant dollars.
How large is Hess Foundation Inc?
Hess Foundation Inc reported $219.2M in total assets on its 2024 IRS Form 990-PF. It paid out $64.2M in qualifying distributions that year, against a required minimum of $55.1M (roughly 5% of its investment assets).
What does Hess Foundation Inc fund?
No mission statement for the foundation is provided. Its 2024 grants show support for a range of organizations and purposes, including medical research and education, college access, the arts, and public policy. See mission & focus areas ↑
How do I apply for a grant from Hess Foundation Inc?
The foundation makes contributions only to preselected charitable organizations and does not accept unsolicited requests for funds. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is Hess Foundation Inc's EIN?
Hess Foundation Inc's EIN (Employer Identification Number) is 22-1713046. IRS Form 990 filing data is available on this page for 2020–2024.
Does Hess Foundation Inc accept unsolicited proposals?
No, according to Grantable's research on the foundation's published guidelines. See how to apply ↑
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated September 2026.
Data update history
(1)
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
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Cite this profile
Grantable. (2026). Hess Foundation Inc funder profile. GrantGraph. Retrieved October 14, 2026, from https://grantable.co/funders/hess-foundation-inc-morg_c826dacd298a4eb1b7267ee795215323
BibTeX
@misc{grantable_221713046_2026,
author = {{Grantable}},
title = {{Hess Foundation Inc funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/hess-foundation-inc-morg_c826dacd298a4eb1b7267ee795215323},
note = {Accessed 2026-10-14. Data licensed CC BY 4.0}
}The figures on this page are open data under CC BY 4.0: reuse them with credit to Grantable and a link. Download the data.
Figures come from Hess Foundation Inc's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
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