Novo Foundation
NoVo Foundation is listed as a private foundation based in Hurley, New York. Its website describes support for people and organizations that can serve as “lifeboats” in turbulent times, with an emphasis on women and children. It says its grants aim to provide resources that support joy, wonder, and curiosity in children, as well as health, well-being, and agency in adults.
Novo Foundation at a glance
In short: Novo Foundation gave $214.1M across 508 grants in 2024 (avg $422K), mostly in New York. 17% of 2024 grantees were new. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $214,143,310
- +26.4% vs 2023
- Grants made (2024)
- 508
- +1.4% vs 2023
- Average grant
- $421,542
- +24.7% vs 2023
- Median grant
- $150,000
- Total assets
- $937,820,671
- +30.4% vs 2023
- New grantees (estimate)
- 17% first-time grantees (56 of 332, 2024)
- Primary geography
- New York (70% 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 Novo Foundation
- Accepts unsolicited proposals
- No
- How to Apply
-
The foundation states that it does not accept unsolicited requests for funds and makes contributions only to preselected charitable organizations.
- Contact
Mailing address: PO Box 566, Hurley, NY 12443
Phone: (212) 808-5400
Website: https://www.novofoundation.org
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who Novo Foundation funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
The largest 2024 recipient was Tides Foundation ($42.7M across 79 grants). Together the top 10 received $133.6M.
Organizations only. It also paid 2 grants to individuals ($75,000), which are not listed by name.
Grant Size Distribution
3,043 grants across all recorded years
The most common grant size was in the $100–250K range: 1,169 grants of 3,043 (38%).
Geographic Focus
Where this funder awards grants
In 2024, 70% of grant dollars went to recipients in New York and 11% to recipients in California. Massachusetts received 2%, while Washington, D.C., and New Mexico each received 1%. The foundation’s direct charitable activities described in its filing are based in the an individual recipient
Grant Distribution by State
Share of 2024 grant dollars across all 508 itemized grants.
States
Cities
Is Novo Foundation open to new grantees?
17%
first-time grantees, 2024
In 2024, 56 of 332 grantees (17%) were first-time recipients. First grants averaged $533K; repeat grants $668K. How we count
Medians: $122K first-time, $200K repeat.
- 80% of 2024 grantees were also funded in 2023. Method
- Giving held roughly steady from 2021 to 2024 (−8%). Method
- In 2024 it paid out 863% 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 $169.4M (2023) to $233.6M (2021). In 2024 it made 508 grants totaling $214.1M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Women Building up Inc Brooklyn, NY | Women Building up | $20,000,000 |
| Tides Foundation New York, NY | Advancing Girls Fund | $19,337,450 |
| Rockefeller Philanthropy Advisors New York, NY | Donor Advised Fund | $14,000,000 |
| Tides Center San Francisco, CA | One Generation | $10,000,000 |
| Community Foundations of the Hudson Valley Poughkeepsie, NY | Radio Kingston | $8,261,670 |
| Rupco Inc Kingston, NY | Housing Support | $5,000,000 |
| Rockefeller Philanthropy Advisors New York, NY | Spirit Aligned Leadership Program | $4,500,000 |
| Rockefeller Philanthropy Advisors New York, NY | Donor Advised Fund | $3,350,000 |
| Tides Foundation New York, NY | V-DAY | $3,000,000 |
| Rockefeller Philanthropy Advisors New York, NY | Donor Advised Fund | $2,750,000 |
Ready to take the next step with Novo Foundation?
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 | $937,820,671 | $473,629,747 | $237,536,467 | $214,143,310 | 508 | $252,480,574 | $472,959,189 | $29,245,484 |
| 2023 | $719,322,289 | $373,899,065 | $174,051,842 | $169,364,905 | 501 | $199,397,422 | $371,856,940 | $21,889,557 |
| 2022 | $545,384,793 | $332,640,783 | $273,150,876 | $195,124,661 | 608 | $222,358,590 | $333,291,102 | $15,764,495 |
| 2021 | $446,815,550 | $225,794,389 | $230,582,511 | $233,553,342 | 652 | $252,998,011 | $224,384,928 | $17,321,092 |
| 2020 | $453,240,395 | $236,125,352 | $128,097,259 | $208,363,812 | 774 | — | $264,273,287 | $19,948,848 |
Under IRS private-foundation payout rules, Novo Foundation reported a distributable amount of $29.2M for 2024 — the minimum it must pay out in qualifying distributions.
Research compiled by Grantable AI from public sources. Last updated October 2026.
Mission & Focus Areas
NoVo’s website expresses a belief in love for children, the land, and community, and describes grants with specific orientations. Its stated aims include supporting children’s joy, wonder, and curiosity and adults’ health, well-being, and agency. Its direct charitable activities in the an individual recipient include farmer training, agricultural research and education, and food processing projects intended to support an equitable, ecologically resilient local food system.
The 2024 grants include support for organizations working in different areas. Women Building Up Inc. describes its mission as advancing gender, racial, and social justice for women, girls, and gender-expansive people directly impacted by carceral systems. Tides Center says it provides fiscal sponsorship, grantmaking, and capacity-building support to community-led organizations. The Community Foundations of the an individual recipient describes its work as making grants and providing leadership to address community needs. RUPCO says it creates homes, supports people, and improves communities. The Institute for Family Health provides medical, dental, and psychosocial services through family health centers and operates residency programs.
Grantmaking
In 2024, NoVo reported 508 grants totaling $214,143,310. Grants ranged from $5,000 to $20 million, with a median of $150,000.
Among the largest reported grants were $20 million to Women Building Up Inc. for “Women Building Up,” $19,337,450 to Tides Foundation for “Advancing Girls Fund,” $14 million to Rockefeller Philanthropy Advisors for a donor-advised fund, and $10 million to Tides Center for “One Generation.” Other large grants included $8,261,670 to Community Foundations of the an individual recipient for “Radio Kingston,” $5 million to RUPCO for housing support, and $2,651,074 to The Institute for Family Health for Pine Street Family Health Center clinic construction.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2024 filing lists Jennifer Buffett and Peter Buffett as co-presidents, Aaron Stern as secretary, and Kimberly McLain as chief financial officer. It also lists Matthew Tye as a managing director, Julianne Schrader Ortega as managing director for HVFH as of April 1, 2024, and Brooke Pickering-Cole as executive director for HVFH until March 31, 2024.
Novo Foundation is led by Jennifer Buffett, Co-President since 2022 (on filings since 2020); 6 of 7 officers listed in 2024 are compensated.
Officers on the 2024 filing
Jennifer Buffett
Co-President
Co-President, Treasurer & Director → Co-President & Co-Chair, 2021
Co-President & Co-Chair → Co-President, 2022
On filings since 2020
20 hrs/week
$1 (2020) → $1 (2024)
Peter Buffett
Co-President
Co-President & Director → Co-President & Co-Chair, 2021
Co-President & Co-Chair → Co-President, 2022
On filings since 2020
40 hrs/week
$1 (2020) → $1 (2024)
Brooke Pickering-Cole
Executive Director & Hvfh
Executive Director & Farm Hub → Executive Director & Hvfh, 2024
On filings since 2022
40 hrs/week
$262K (2022) → $277K (2024)
Julianne Schrader Ortega
Managing Director & Hvfh
New on the 2024 filing
40 hrs/week
$221K (2024)
Matthew Tye
Managing Director, Nik, Mill & Crop Sho
New on the 2024 filing
40 hrs/week
$375K (2024)
Kimberly McLain
Chief Financial Officer
Chief Financial Officer & Int. COO → Chief Financial Officer, 2021
On filings since 2020
40 hrs/week
$332K (2020) → $348K (2024)
Aaron Stern
Secretary
Secretary & Director → Secretary & Treasurer, 2021
Secretary & Treasurer → Secretary, 2022
On filings since 2020
2 hrs/week
No compensation reported
Former officers (1)
- Former: Kelly Merryman (2020) — Chief Operating Officer
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.
Compensation Overview
From 2024 IRS filing
The highest reported compensation on the 2024 filing was $375K, to Matthew Tye (Managing Director, NIK, Mill, Crop Sho). 6 officers or directors reported compensation on that filing.
Frequently asked questions about Novo Foundation
How much does Novo Foundation give each year?
Novo Foundation gave $214.1M across 508 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $169.4M across 501 grants.
What is Novo Foundation's typical grant size?
Novo Foundation's median grant in 2024 was $150,000, and its average grant was $421,542, across 508 grants on its 2024 IRS Form 990-PF. Organizations receiving their first grant from Novo Foundation that year got $533K on average.
Where does Novo Foundation give grants?
Novo Foundation gives mostly in New York: 70% of the grant dollars itemized on its 2024 IRS Form 990-PF went to recipients there. The next largest state was California (11%). The most frequent recipient cities were New York, NY (112 grants), Kingston, NY (55 grants), Poughkeepsie, NY (27 grants) and San Francisco, CA (16 grants).
Does Novo Foundation give general operating support?
Yes: 47% of Novo Foundation's 2024 grants with a stated purpose (239 of 508) were for general or operating support, per its 2024 IRS Form 990-PF. Recurring purposes include "Donor Advised Fund" (18 grants), "Capital Support" (4 grants) and "Therapy Support" (4 grants).
Who are Novo Foundation's largest grantees?
Novo Foundation's largest 2024 grantees include Tides Foundation ($42,700,275 across 79 grants), Rockefeller Philanthropy Advisors ($26,111,750 across 6 grants) and Women Building up Inc ($20,000,000), according to its 2024 IRS Form 990-PF. It also paid 2 grants to individuals ($75,000), which are not listed by name. Together they received 41% of its itemized 2024 grant dollars.
How large is Novo Foundation?
Novo Foundation reported $937.8M in total assets on its 2024 IRS Form 990-PF. It paid out $252.5M in qualifying distributions that year, against a required minimum of $29.2M (roughly 5% of its investment assets).
What does Novo Foundation fund?
NoVo’s website expresses a belief in love for children, the land, and community, and describes grants with specific orientations. Its stated aims include supporting children’s joy, wonder, and curiosity and adults’ health, well-being, and agency. See mission & focus areas ↑
How do I apply for a grant from Novo Foundation?
The foundation states that it does not accept unsolicited requests for funds and makes contributions only to preselected charitable organizations. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is Novo Foundation's EIN?
Novo Foundation's EIN (Employer Identification Number) is 47-0824753. IRS Form 990 filing data is available on this page for 2020–2024.
Does Novo Foundation 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 October 2026.
Data update history
(6)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2020 (received by the IRS November 15, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS November 15, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS September 5, 2024)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS October 23, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS October 27, 2025)
- IRS filings on file for fiscal years 2020–2024
Explore Open Grants
Browse active grant opportunities in Novo Foundation's focus areas in our free grants database
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Cite this profile
Grantable. (2026). Novo Foundation funder profile. GrantGraph. Retrieved October 11, 2026, from https://grantable.co/funders/novo-foundation-morg_367fc652c0d149caa5123aec017449d2
BibTeX
@misc{grantable_470824753_2026,
author = {{Grantable}},
title = {{Novo Foundation funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/novo-foundation-morg_367fc652c0d149caa5123aec017449d2},
note = {Accessed 2026-10-11. 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 Novo Foundation'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.
Novo Foundation down — hundreds of funders to go?