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
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
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
No grants recorded for .
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 | — |
Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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