Prospect Hill Foundation Inc

NEW YORK, NY EIN: 13-6075567 Website

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.

Research compiled by Grantable AI from public sources. Last updated April 2026.

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.

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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

District of Columbia $900K (41%)

New York $892K (41%)

Massachusetts $170K (8%)

New Jersey $112K (5%)

California $64K (3%)

Illinois $10K (0%)

New Hampshire $6K (0%)

Utah $6K (0%)

+27 more states

Cities

AlamedaAlbanyAlbuquerqueAlpharettaAltoonaAndoverArlingtonArmonkAtlantaAustinBabylonBaltimoreBasking RidgeBaton RougeBaysideBeaconBecketBedfordBerkeleyBethesda

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

Revenue

Expenses

Qualifying Distributions

Net Investment Income

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.