Prospect Hill Foundation Inc
The Prospect Hill Foundation is a private family foundation established in New York in 1959 by William S. Beinecke, then President and Chairman of the Sperry and Hutchinson Company, and his wife, Elizabeth G. Beinecke. In 1983, the foundation merged with the Frederick W. Beinecke Fund, which had been established by the will of William S. Beinecke's father and was later augmented by the will of Carrie Sperry Beinecke, his mother. The foundation is a 501(c)(3) organization and grantmaking entity.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$76.2M
+2.8% YoY
Annual Giving
$2.6M
-17.3% YoY
Grant Count
295
-14.7% YoY
Avg Grant Size
$9K
-3.0% YoY
Under IRS private-foundation payout rules, Prospect Hill Foundation Inc reported a distributable amount of $3.7M for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
Mission: To advance the human experience while ensuring the well-being of the earth.
Current Program Areas:
The foundation operates a three-fold grantmaking framework consisting of:
Program Grants in two areas:
- Nuclear Disarmament & Nonproliferation
- Youth
Sponsored Grants that support the philanthropic interests and activities of Beinecke family members, initiated by directors
Matching Gifts Program offering a 2:1 benefit for the Beinecke family office and for staff and directors of the foundation
Following a Year of Reflection in 2017-2018, the foundation phased out of three former program areas: Environment/Oceans & Coastal Waters, Reproductive Health & Justice, and Youth Justice. The foundation maintained its Nuclear Disarmament & Nonproliferation Program and developed a new program area focused on young people.
Grantmaking
The foundation has distributed nearly 1,200 grants since 2010 totaling more than $36 million across its program areas. The foundation maintains a grants database that is publicly accessible.
Ready to take the next step with Prospect Hill Foundation Inc?
Geographic Focus
Where this funder awards grants
The foundation's grants support activities mainly in the northeastern United States, with a smaller presence in the San Francisco/Bay Area, reflecting the geographic location of the Beinecke family.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
Fiscal Year Ending June 2024:
- Revenue: $2,128,010
- Expenses: $4,312,261
- Net Income: -$2,184,251
- Total Assets: $76,184,498
- Total Liabilities: $0
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $76,184,498 | $74,142,105 | $74,858,548 |
| Revenue | $2,128,010 | $2,504,507 | $7,708,637 |
| Expenses | $4,312,261 | $4,918,224 | $4,738,899 |
| Qualifying Distributions | $3,619,157 | $4,064,903 | $3,973,410 |
| Net Investment Income | $1,384,836 | $1,426,331 | $5,966,524 |
| Distributable Amount | $3,659,086 | $3,581,447 | $4,198,326 |
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
250 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Arms Control Association ($75,000), Center for Arms Control and Non-proliferation ($55,000), Centurion Ministries Inc ($30,000).
| Recipient | Purpose | Amount |
|---|---|---|
| ACADEMY MUSIC ART THEATRE SRL SOCIAL ENTERPRISE | FEMFESTIVAL | $5,319 |
| ADIRONDACK EXPLORER SARANAC LAKE, NY | IN HONOR OF 25 YEARS | $430 |
| ADIRONDACK EXPLORER SARANAC LAKE, NY | GENERAL SUPPORT | $2,000 |
| ADIRONDACK FOUNDATION LAKE PLACID, NY | PROJECT SUPPORT | $12,500 |
| ADIRONDACK FOUNDATION LAKE PLACID, NY | GENERAL SUPPORT | $500 |
| ADIRONDACK FOUNDATION LAKE PLACID, NY | SUN FUND FOR LONG LAKE | $25,000 |
| ADIRONDACK LAND TRUST INC KEENE VALLEY, NY | GENERAL SUPPORT | $500 |
| ADKACTION KEESEVILLE, NY | GENERAL SUPPORT | $7,500 |
| ADKACTION KEESEVILLE, NY | GENERAL SUPPORT | $1,000 |
| ADKACTION KEESEVILLE, NY | GENERAL SUPPORT | $4,164 |
Leadership & Key People
Leadership team and compensation from IRS filings
The foundation is governed by a ten-member board of directors, all descendants of William S. and Elizabeth G. Beinecke. Each of the two program areas is governed by a committee of directors and includes a non-director expert.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| CARRIE S ELSTON | PRESIDENT & DIRECTOR | 5 | — |
| FREDERICK W BEINECKE | VICE PRESIDENT & DIRECTOR | 2 | — |
| ELIZABETH BEINECKE ELSTON | SECRETARY & DIRECTOR | 2 | — |
| BENJAMIN B BEINECKE | DIRECTOR | 2 | — |
| FRANCES G BEINECKE | DIRECTOR | 2 | — |
| JACOB S BEINECKE | DIRECTOR | 2 | — |
| JESSE W SMITH | DIRECTOR | 2 | — |
| JOHN B BEINECKE | DIRECTOR | 2 | — |
| SARAH BEINECKE RICHARDSON | DIRECTOR | 2 | — |
| MAUREEN HOWLEY | TREASURER | 10 | — |
Frequently Asked Questions
What does Prospect Hill Foundation Inc fund?
**Mission:** To advance the human experience while ensuring the well-being of the earth. **Current Program Areas:** The foundation operates a three-fold grantmaking framework consisting of: 1. **Program Grants** in two areas: • Nuclear Disarmament & Nonproliferation • Youth 2. **Sponsored Grants** that support the philanthropic interests and activities of Beinecke family members, initiated by directors 3. **Matching Gifts Program** offering a 2:1 benefit for the Beinecke family office and for s…
How do I apply for a grant from Prospect Hill Foundation Inc?
The foundation has distributed nearly 1,200 grants since 2010 totaling more than $36 million across its program areas. The foundation maintains a grants database that is publicly accessible.
Where does Prospect Hill Foundation Inc make grants?
The foundation's grants support activities mainly in the northeastern United States, with a smaller presence in the San Francisco/Bay Area, reflecting the geographic location of the Beinecke family.
What size grants does Prospect Hill Foundation Inc award?
In 2024, Prospect Hill Foundation Inc awarded 295 grants totaling $2.6M — an average of about $9K per grant, based on its IRS Form 990 filings.
How much is Prospect Hill Foundation Inc required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Prospect Hill Foundation Inc reported a distributable amount of $3.7M on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Prospect Hill Foundation Inc's EIN?
Prospect Hill Foundation Inc's EIN (Employer Identification Number) is 13-6075567. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in Prospect Hill Foundation Inc's focus areas in our free grants database
Related Funders
Similar funders by location and focus area
The Reich Family Charitable Trust
BROOKLYN, NY
Assets
$689K
Grants
1
Total Given
$453K
Launa Beuhler Foundation for
BROOKLYN, NY
Assets
$2K
Grants
4
Total Given
$20K
The Hilary Grace Foundation Inc
EAST AMHERST, NY
Assets
$126K
Grants
2
Total Given
$36K
Uw E J Madden Mem Open Hearts Club 10-214880
NEW YORK, NY
Assets
$1.3M
Grants
1
Total Given
$307K
Hindy's Foundation
BROOKLYN, NY
Assets
$142K
Grants
8
Total Given
$225K
Jeanne & Thomas Hardy Family Foundation
NEW YORK, NY
Assets
$3K
Grants
3
Total Given
$3K
Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
What could you do with Prospect Hill Foundation Inc on Grantable?
- Assess strategic fit with your organization
- Draft a tailored letter of inquiry
- Find open RFPs from this funder
- Monitor for new funding opportunities
Go from researching Prospect Hill Foundation Inc to a real strategy.