Robin Hood

Robin Hood’s mission is to fight poverty in New York City.

 

Description

New York, NY – EIN 133441066 robinhood.org

As an organization focused on creating economic mobility for families in poverty, we see every day how structural racism impedes progress. We must do all in our power to confront and dismantle these systems and create lasting change.

We have launched a new initiative called The Power Fund, which will fund and elevate nonprofit leaders of color who share Robin Hood’s mission of increasing mobility from poverty.

Wiki

Robin Hood Foundation

Robin Hood Foundation
Robin Hood Foundation logo.gif
Founded1988; 32 years ago (1988)[1]
FounderPaul Tudor Jones
Peter Borish
Glenn Dubin
David Saltzman
TypeVenture philanthropy[2][1]
FocusPoverty reduction[1]
Location
Area served
New York City[1]
MethodCombining investment principles and philanthropy to assist programs that target poverty.
Key people
Wes Moore
Revenue (2015)
$184,960,470[4]
Expenses (2015)$157,218,464[4]
Websitewww.robinhood.org

The Robin Hood Foundation is a charitable organization which attempts to alleviate problems caused by poverty in New York City. The organization also administers a relief fund for disasters in the New York City area. In 2010, a key supporter gave every family with children on welfare in New York State $200 to buy school supplies.[5] In 2017, Robin Hood appointed author and US Army veteran Wes Moore as its first CEO.[6]

History

Founded in 1988 and named after the heroic outlaw from English folklore, the Robin Hood Foundation was conceived by hedge fund manager Paul Tudor Jones and co-founded with Peter Borish and Glenn Dubin.[7][8][9][10]

The foundation combines investment principles and philanthropy to assist programs that target poverty in New York City. In 2006, the board of directors included such names as Jeffrey Immelt, Diane Sawyer, Harvey Weinstein, Marie-Josee Kravis, Lloyd Blankfein of Goldman Sachs, Richard S. Fuld, Jr., formerly of Lehman Brothers, Glenn Dubin of Highbridge Capital, Marian Wright Edelman and actress Gwyneth Paltrow.[11]

Funding for the organization's activities comes from donations and fund raising efforts. In 2009, George Soros gave the foundation a US$50 million contribution. The money reportedly helped the organization raise significantly more than that amount.[5] In 2001 The Concert for New York City provided funds for the organization. After Hurricane Sandy, the 12-12-12: The Concert for Sandy Relief concert also provided funds for the foundation's efforts.[12] Artists including The Rolling Stones, Robert Plant & The Strange Sensation, Shakira, John Legend, The Black Eyed Peas, Lady Gaga, The Who and Aerosmith have performed at the group's annual fund raising galas. During the 2019-20 Coronavirus Pandemic, the Rise Up New York! telethon provided funds to those impacted by the pandemic.

As of 2016, the foundation was #79 on the Forbes 100 Largest U.S. Charities list.[13]

In 2017, Robin Hood appointed author and veterans advocate Wes Moore as its CEO.[6] Moore grew up in poverty in the Bronx before becoming a Rhodes scholar at the University of Oxford, a paratrooper and captain in the 82nd Airborne, and investment banker at Citigroup. Moore succeeds David Saltzman who was the Executive Director since co-founding the organization.[14]

Approach

According to the Foundation "Since 1988 Robin Hood has targeted poverty in New York City by supporting and developing organizations that provide direct services to poor New Yorkers as well as improving their earning power and long-term prospects. Robin Hood provides program grants, general operating support, capital grants, and funds to build management capacity."[15]

Fortune magazine said "Robin Hood was a pioneer in what is now called venture philanthropy, or charity that embraces free-market forces. An early practitioner of using metrics to measure the effectiveness of grants, it is a place where strategies to alleviate urban poverty are hotly debated, ineffectual plans are coldly discarded, and its staff of 66 hatches radical new ideas."[2]

More specifically, the foundation states[1] that it applies the following principles:

  • Give 100 percent of every donation directly to programs helping poor New Yorkers
  • Identify and stop poverty at its roots
  • Protect and leverage Robin Hood's investments by using sound business principles to help programs become more effective
  • Use metrics and qualitative data to evaluate programs and measure results to compare the relative poverty-fighting success of similar programs

Programs

The Robin Hood Foundation works with more than 240 nonprofit organizations in New York and surrounding areas.[16] They categorize their programs into "Core fund recipients" and "Relief fund recipients".[16] Core fund recipients consist of four portfolios: early childhood, education, jobs and economic security, and survival.[16]

Hurricane Sandy

The relief fund also benefited victims of Hurricane Sandy.[17] As of March 14, 2013, they were "no longer accepting online grant applications for Hurricane Sandy Relief" (and resuming the organization's regular work).[18]

COVID-19 Pandemic

On May 11th 2020, the Robin Hood Foundation partnered with New York area television stations, and local radio stations owned by iHeart Radio and Entercom to televise the Rise Up New York telethon to support those impacted by the 2019 Coronavirus Pandemic. The event raised $110 million in approximately an hour.

Reception

The Robin Hood Foundation was featured in Fortune's 18 September 2006 issue, where the article states that the foundation is "one of the most innovative and influential philanthropic organizations of our time."[2] On September 16, 2013 the news show 60 Minutes aired a report on Jones and how the Foundation has given away more than 25 million dollars.[19]

Founding Board Members

The founding members of the board were as follows:[20]

References

  1. ^ a b c d e "Approach". Robin Hood Foundation. Archived from the original on 3 January 2011. Retrieved 7 October 2010.
  2. ^ a b c Serwer, Andy (2006-09-08). "The legend of Robin Hood". Fortune. CNN. Retrieved 7 October 2010.
  3. ^ "Contact us". Robin Hood Foundation. Archived from the original on 30 June 2008. Retrieved 7 October 2010.
  4. ^ a b "Robin Hood Foundation" (PDF). Foundation Center. Retrieved 12 December 2017.
  5. ^ a b Strom, Stephanie (September 6, 2010). "George Soros to Donate $100 Million to Human Rights Watch". The New York Times. New York: NYTC. ISSN 0362-4331. Retrieved 11 June 2013.
  6. ^ a b Elizabeth A. Harris (April 25, 2017). "Robin Hood, Favorite Charity on Wall Street, Gets New Leader". The New York Times.
  7. ^ Teltsch, Kathleen (May 9, 1991). "Nowadays, Robin Hood Gets the Rich to Give to the Poor". The New York Times.
  8. ^ "The Emperors of Benevolence". New York magazine. November 5, 2007.
  9. ^ "Board of Directors – Peter Borish" Robin Hood
  10. ^ Tom Brokaw (2012). The Time of Our Lives: A Conversation about America - Who We Are, Where We've Been, and Where We Need to Go Now, to Recapture the American Dream. Random House LLC. p. 159. Retrieved April 22, 2014. Peter Borish.
  11. ^ editor-at-large, By Andy Serwer, Fortune senior. "The legend of Robin Hood - September 18, 2006". archive.fortune.com. Retrieved 2017-07-11.CS1 maint: extra text: authors list (link)
  12. ^ Joshua Dawsey. "A Preview of the '12-12-12′ Concert and Where to Watch". Wall Street Journal.
  13. ^ "#79 Robin Hood Foundation". Forbes. 14 December 2016. Retrieved 9 October 2019.
  14. ^ Amanda L Gordon. "Robin Hood Turns to Ex-Paratrooper, Citigroup Veteran as CEO". Bloomberg.
  15. ^ "ROBIN HOOD FOUNDATION". GuideStar Nonprofit Directory. GuideStar USA. 2010. Retrieved 7 October 2010.
  16. ^ a b c "Programs". Robin Hood Foundation. Archived from the original on 30 June 2008. Retrieved 8 October 2010.
  17. ^ "Robin Hood Responds".
  18. ^ "Hurricane Sandy Grant Distribution".
  19. ^ "Modern-day Robin Hood". Retrieved 2017-07-11.
  20. ^ Serwer, Andy (September 8, 2006). "The legend of Robin Hood - How the leaders of the hedge fund world have banded together to fight poverty - taking gobs of money from the rich, applying strict financial metrics in giving it away, and making philanthropy cool among the business elite". CNN Money.

External links

Videos

IRS data by ProPublica Nonprofit Explorer


ROBIN HOOD FOUNDATION

TUDOR CHARITABLE TR

NEW YORK, NY 10003-4826 | Tax-exempt since April 1989
  • EIN: 13-3441066
  • Classification (NTEE)
    Fund Raising Organizations That Cross Categories (Philanthropy, Voluntarism and Grantmaking Foundations)
  • Nonprofit Tax Code Designation: 501(c)(3)
    Defined as: Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn’t provide athletic facilities or equipment), or the prevention of cruelty to children or animals.
  • Donations to this organization are tax deductible.
Fiscal year ending

Dec. 2018

Fiscal year ending Dec.

2018

PDF

990
990-T

Full Text

990 (filed on Jan. 3, 2020)

Full Filing

Raw XML

990

Form 990 documents available

Extracted filing data is not available for this tax period, but Form 990 documents are available for download.

Fiscal year ending

Dec. 2017

Fiscal year ending Dec.

2017

PDF

990
990-T

Full Text

990 (filed on Feb. 1, 2019)

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Total Revenue

$120,901,422

Total Functional Expenses $142,028,716
Net income -$21,127,294
Notable sources of revenue Percent of total revenue
Contributions $129,301,900 Over 100%
Program services $0
Investment income $863,192 0.7%
Bond proceeds $0
Royalties $0
Rental property income $29,025 0.0%
Net fundraising -$12,235,688
Sales of assets $2,899,834 2.4%
Net inventory sales $0
Other revenue $43,159 0.0%
Notable expenses Percent of total expenses
Executive compensation $4,893,662 3.4%
Professional fundraising fees $75,000 0.1%
Other salaries and wages $9,092,054 6.4%
Other
Total Assets $410,831,803
Total Liabilities $76,426,105
Net Assets $334,405,698
Fiscal year ending

Dec. 2016

Fiscal year ending Dec.

2016

PDF

990
990-T

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990 (filed on Jan. 3, 2018)

Full Filing

Raw XML

990

Total Revenue

$171,693,929

Total Functional Expenses $209,989,218
Net income -$38,295,289
Notable sources of revenue Percent of total revenue
Contributions $169,003,002 98.4%
Program services $0
Investment income $799,406 0.5%
Bond proceeds $0
Royalties $0
Rental property income $25,098 0.0%
Net fundraising -$13,332,310
Sales of assets $7,981,034 4.6%
Net inventory sales $0
Other revenue $7,217,699 4.2%
Notable expenses Percent of total expenses
Executive compensation $3,808,343 1.8%
Professional fundraising fees $160,000 0.1%
Other salaries and wages $12,153,262 5.8%
Other
Total Assets $431,285,963
Total Liabilities $84,340,049
Net Assets $346,945,914
Fiscal year ending

Dec. 2015

Fiscal year ending Dec.

2015

PDF

990

Full Text

990 (filed on March 2, 2017)

Full Filing

Raw XML

990

Total Revenue

$184,960,470

Total Functional Expenses $157,218,464
Net income $27,742,006
Notable sources of revenue Percent of total revenue
Contributions $195,718,658 Over 100%
Program services $0
Investment income $1,267,465 0.7%
Bond proceeds $0
Royalties $0
Rental property income $7,200 0.0%
Net fundraising -$13,550,515
Sales of assets $1,391,372 0.8%
Net inventory sales $0
Other revenue $126,290 0.1%
Notable expenses Percent of total expenses
Executive compensation $2,726,271 1.7%
Professional fundraising fees $140,000 0.1%
Other salaries and wages $9,818,712 6.2%
Other
Total Assets $462,935,695
Total Liabilities $71,817,155
Net Assets $391,118,540
Fiscal year ending

Dec. 2014

Fiscal year ending Dec.

2014

PDF

990
990-T

Full Text

990 (filed on Feb. 8, 2016)

Full Filing

Raw XML

990

Total Revenue

$142,420,271

Total Functional Expenses $158,549,860
Net income -$16,129,589
Notable sources of revenue Percent of total revenue
Contributions $150,751,968 Over 100%
Program services $0
Investment income $1,259,953 0.9%
Bond proceeds $0
Royalties $0
Rental property income $0
Net fundraising -$10,554,402
Sales of assets $942,036 0.7%
Net inventory sales $0
Other revenue $20,716 0.0%
Notable expenses Percent of total expenses
Executive compensation $3,547,594 2.2%
Professional fundraising fees $130,000 0.1%
Other salaries and wages $9,222,410 5.8%
Other
Total Assets $446,826,179
Total Liabilities $84,945,965
Net Assets $361,880,214
Fiscal year ending

Dec. 2013

Fiscal year ending Dec.

2013

PDF

990
990-T

Full Text

990 (filed on Dec. 29, 2014)

Full Filing

Raw XML

990

Total Revenue

$171,875,574

Total Functional Expenses $209,672,931
Net income -$37,797,357
Notable sources of revenue Percent of total revenue
Contributions $176,957,636 Over 100%
Program services $0
Investment income $1,421,863 0.8%
Bond proceeds $0
Royalties $0
Rental property income $0
Net fundraising -$13,408,478
Sales of assets $6,892,451 4.0%
Net inventory sales $0
Other revenue $12,102 0.0%
Notable expenses Percent of total expenses
Executive compensation $3,169,178 1.5%
Professional fundraising fees $115,000 0.1%
Other salaries and wages $9,734,905 4.6%
Other
Total Assets $447,689,231
Total Liabilities $78,106,067
Net Assets $369,583,164
Fiscal year ending

Dec. 2012

Fiscal year ending Dec.

2012

PDF

990
990-T

Raw XML

990

Total Revenue

$217,071,705

Total Functional Expenses $157,088,014
Net income $59,983,691
Notable sources of revenue Percent of total revenue
Contributions $228,080,396 Over 100%
Program services $0
Investment income $1,679,738 0.8%
Bond proceeds $0
Royalties $0
Rental property income $0
Net fundraising -$16,144,068
Sales of assets $2,385,159 1.1%
Net inventory sales $0
Other revenue $1,070,480 0.5%
Notable expenses Percent of total expenses
Executive compensation $3,206,434 2.0%
Professional fundraising fees $145,000 0.1%
Other salaries and wages $9,106,151 5.8%
Other
Total Assets $482,065,583
Total Liabilities $84,429,368
Net Assets $397,636,215
Fiscal year ending

Dec. 2011

Fiscal year ending Dec.

2011

PDF

990
990-T
990-T

Raw XML

990

Total Revenue

$143,091,095

Total Functional Expenses $136,609,009
Net income $6,482,086
Notable sources of revenue Percent of total revenue
Contributions $164,898,420 Over 100%
Program services $0
Investment income $1,297,176 0.9%
Bond proceeds $0
Royalties $0
Rental property income $0
Net fundraising -$23,616,447
Sales of assets $506,700 0.4%
Net inventory sales $0
Other revenue $5,246 0.0%
Notable expenses Percent of total expenses
Executive compensation $3,009,536 2.2%
Professional fundraising fees $147,500 0.1%
Other salaries and wages $7,248,646 5.3%
Other
Total Assets $397,861,862
Total Liabilities $71,864,274
Net Assets $325,997,588
Fiscal year ending

Dec. 2010

Fiscal year ending Dec.

2010

PDF

990
990-T

Raw XML

990

Form 990 documents available

Extracted filing data is not available for this tax period, but Form 990 documents are available for download.

Fiscal year ending

Dec. 2009

Fiscal year ending Dec.

2009

PDF

990
990-T

Form 990 documents available

Extracted filing data is not available for this tax period, but Form 990 documents are available for download.

Fiscal year ending

Dec. 2008

Fiscal year ending Dec.

2008

PDF

990
990-T

Form 990 documents available

Extracted filing data is not available for this tax period, but Form 990 documents are available for download.

Fiscal year ending

Dec. 2007

Fiscal year ending Dec.

2007

PDF

990

Form 990 documents available

Extracted filing data is not available for this tax period, but Form 990 documents are available for download.

Fiscal year ending

Dec. 2006

Fiscal year ending Dec.

2006

PDF

990

Form 990 documents available

Extracted filing data is not available for this tax period, but Form 990 documents are available for download.

Fiscal year ending

Dec. 2005

Fiscal year ending Dec.

2005

PDF

990
990

Form 990 documents available

Extracted filing data is not available for this tax period, but Form 990 documents are available for download.

Fiscal year ending

Dec. 2004

Fiscal year ending Dec.

2004

PDF

990

Form 990 documents available

Extracted filing data is not available for this tax period, but Form 990 documents are available for download.

Fiscal year ending

Dec. 2003

Fiscal year ending Dec.

2003

PDF

990
990

Form 990 documents available

Extracted filing data is not available for this tax period, but Form 990 documents are available for download.

Fiscal year ending

Dec. 2002

Fiscal year ending Dec.

2002

PDF

990
990

Form 990 documents available

Extracted filing data is not available for this tax period, but Form 990 documents are available for download.

Fiscal year ending

Dec. 2001

Fiscal year ending Dec.

2001

PDF

990

Form 990 documents available

Extracted filing data is not available for this tax period, but Form 990 documents are available for download.


Last Updated: 2020-11-23 08:21