The Hess Philanthropic Fund is a private corporate foundation based in New York, NY, established in 2016. It is a 501(c)(3) organization designated for philanthropic and grantmaking purposes. The foundation is affiliated with Hess Corporation and operates as a named trust/foundation.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$239.2M
+2.2% YoY
Annual Giving
$21.3M
+46.9% YoY
Grant Count
69
+11.3% YoY
Avg Grant Size
$309K
+32.0% YoY
Mission & Focus Areas
The organization has not publicly provided a formal mission statement. However, based on grantmaking patterns, the foundation supports initiatives in:
- Philanthropy and grantmaking
- Education
- Human services
- Arts and culture
Grantmaking
The foundation does not operate formal grant programs with defined amounts or application cycles. All grants are made at the discretion of the foundation's directors to preselected organizations. The foundation does not accept unsolicited applications.
Grant Range
Varies significantly
Average Grant
Varies significantly
How to Apply
**
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Geographic Focus
Where this funder awards grants
The foundation primarily supports organizations in:
- New York (primary focus)
- Massachusetts
- California
- District of Columbia
Grantmaking reaches organizations across multiple states, with emphasis on major urban centers in the United States and Canada.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | Amount | Year |
|---|---|---|
| Total Assets | $239,238,118 | 2024 |
| Total Revenue | $32,857,825 | 2024 |
| Total Expenses | $28,196,148 | 2024 |
| Total Grants Distributed | $21,330,591 | 2024 |
| Investment Income | $4,693,984 | 2024 |
| Grants & Contributions Received | $14,512,145 | 2024 |
Year-over-Year Changes (2023 to 2024):
- Grants and contributions increased 34.7%
- Investment income increased 6.2%
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $239,238,118 | $234,142,935 | $231,447,732 |
| Revenue | $32,857,825 | $24,091,549 | $32,591,174 |
| Expenses | $28,196,148 | $20,335,458 | $20,882,334 |
| Qualifying Distributions | $21,330,591 | $14,516,092 | $15,780,993 |
| Net Investment Income | $13,265,769 | $9,309,612 | $18,405,349 |
| Distributable Amount | $15,861,402 | $14,472,605 | $14,409,359 |
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
200 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
The foundation is directed by family members who serve without compensation:
- Marlene Hess — Principal officer and director; prominent philanthropic consultant and former Managing Director of Global Philanthropic Services at JP Morgan Private Bank. Serves as Vice Chair of the Museum of Modern Art and on boards including the American Museum of Natural History, The Metropolitan Opera, New York-Presbyterian Hospital, and Lincoln Center Theater. Honored as a Living Landmark by the New York Landmarks Conservancy in 2022.
- Peter Hess Friedland — Director
- Margaret Hess Chi — Director
The foundation is governed by 3 officers and trustees.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| MARLENE HESS | DIRECTOR | — | — |
| PETER HESS FRIEDLAND | DIRECTOR | — | — |
| MARGARET HESS CHI | DIRECTOR | — | — |
Recent News & Activity
Recent developments and announcements
The Hess Family Foundation has provided funding for mentorship programs, including support for Wheeling University's mentorship program. The foundation has also made scholarship donations and grants for 2025.
HESS Family Foundation Provides Funding for Wheeling University MentorshipSubject 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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