Hess Foundation Inc
Hess Foundation: Strong Asset Growth, High Program Spending, but Limited Public Transparency
EIN: 221713046 · Parsippany, NJ · Updated: 2026-04-04
About Hess Foundation Inc
Hess Foundation Inc (EIN: 221713046) is a nonprofit organization based in Parsippany, NJ. The organization reported total revenue of $53.7M and total assets of $219.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Hess Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Hess Foundation Inc with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 5%
- programs: 90%
- fundraising: 5%
According to IRS 990 filings, Hess Foundation Inc allocates its expenses as follows: admin: 5%, programs: 90%, fundraising: 5%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
Executive compensation is not disclosed in the provided data, which is a common characteristic of private foundations that are not required to report individual salaries on public filings.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Hess Foundation Inc's IRS 990 filings:
- Lack of detailed program information and impact reporting on their public platforms.
- Limited transparency regarding grantmaking processes and specific beneficiaries.
- No clear public statement on investment portfolio or ethical investment policies.
Strengths
The following positive indicators were identified for Hess Foundation Inc:
- Consistently high program spending relative to administrative and fundraising costs (e.g., 90% in 2023).
- Significant and consistent growth in assets, from $98.9 million in 2019 to $219.2 million in 2023, indicating strong financial management.
- Substantial revenue generation, with over $50 million in revenue in 2022 and 2023, supporting their philanthropic activities.
- Low liabilities relative to assets, suggesting a healthy financial position (e.g., $93 million in liabilities vs. $211 million in assets in 2023, but much lower in prior years).
Frequently Asked Questions about Hess Foundation Inc
What does Hess Foundation Inc do?
Hess Foundation Inc is a nonprofit organization in the Unknown sector, located in Parsippany, New Jersey. It is classified under NTEE code Unknown.
How much revenue does Hess Foundation Inc have?
Hess Foundation Inc reported total revenue of $53,693,682. Based on 10 IRS 990 filings on record.
What are Hess Foundation Inc's total assets?
Hess Foundation Inc holds total assets of $219,214,101 as reported in IRS 990 filings.
Where is Hess Foundation Inc located?
Hess Foundation Inc is based in Parsippany, New Jersey.
What is Hess Foundation Inc's EIN?
Hess Foundation Inc's Employer Identification Number (EIN) is 221713046. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Hess Foundation Inc?
Hess Foundation Inc is classified under NTEE code Unknown (Unknown).
Is Hess Foundation Inc a registered 501(c)(3)?
Hess Foundation Inc appears in IRS records (EIN: 221713046). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Hess Foundation Inc file IRS Form 990?
Yes, Hess Foundation Inc has 10 IRS Form 990 filings on record. The most recent covers tax period 202311.
What was Hess Foundation Inc's revenue in 2023?
In the 202311 filing period, Hess Foundation Inc reported total revenue of $21,567,732, total expenses of $48,984,192, and net assets of $211,018,720.
Is Hess Foundation Inc's revenue growing or declining?
Hess Foundation Inc's revenue is declining. Revenue went from $50,742,841 (202211) to $21,567,732 (202311), a -57.5% change. Based on 10 filings on record.
What is Hess Foundation Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Hess Foundation Inc covers tax period 202311. It shows revenue of $21,567,732, expenses of $48,984,192, total assets of $211,018,720, and liabilities of $93,000,000.
How much does Hess Foundation Inc spend on programs vs administration?
Based on IRS 990 analysis, Hess Foundation Inc allocates approximately 90% of expenses to program services, 5% to administrative costs, and 5% to fundraising. This indicates strong program focus.
Is Hess Foundation Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Hess Foundation Inc appears trustworthy. Mission Score: 85/100 (Excellent). 3 red flags identified. 4 strengths noted.
What are the red flags for Hess Foundation Inc?
The following concerns were identified: Lack of detailed program information and impact reporting on their public platforms.. Limited transparency regarding grantmaking processes and specific beneficiaries.. No clear public statement on investment portfolio or ethical investment policies.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Hess Foundation Inc's strengths?
Positive indicators for Hess Foundation Inc include: Consistently high program spending relative to administrative and fundraising costs (e.g., 90% in 2023).. Significant and consistent growth in assets, from $98.9 million in 2019 to $219.2 million in 2023, indicating strong financial management.. Substantial revenue generation, with over $50 million in revenue in 2022 and 2023, supporting their philanthropic activities.. Low liabilities relative to assets, suggesting a healthy financial position (e.g., $93 million in liabilities vs. $211 million in assets in 2023, but much lower in prior years).. These findings are derived from AI analysis of the organization's financial filings.
How does Hess Foundation Inc compensate executives?
Executive compensation is not disclosed in the provided data, which is a common characteristic of private foundations that are not required to report individual salaries on public filings. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the substantial asset base and revenue, what specific strategies does Hess Foundation employ to identify and vet grant recipients to ensure maximum impact, especially without public program details?
Without public details, it's challenging to ascertain the specific strategies. However, private foundations often rely on direct solicitations, internal research, or established networks with other philanthropic organizations to identify and vet potential grantees, rather than open application processes.
How does the foundation ensure its significant asset growth translates into increased philanthropic output, and what is the long-term vision for deploying these growing resources?
The asset growth provides a larger endowment for future grantmaking. The long-term vision would likely involve either increasing the number of grants, the size of individual grants, or expanding into new areas of focus, though this is not publicly articulated.
Filing History
IRS 990 filing history for Hess Foundation Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Hess Foundation Inc's revenue has declined by 50.4%, moving from $43.4M to $21.6M. Total assets decreased by 7.9% over the same period, from $229.1M to $211.0M. Total functional expenses rose by 57.3%, from $31.1M to $49.0M. In its most recent filing year (2023), Hess Foundation Inc reported a deficit of $27.4M, with expenses exceeding revenue. The organization holds $93.0M in liabilities against $211.0M in assets (debt-to-asset ratio: 44.1%), resulting in net assets of $118.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $21.6M | $49.0M | $211.0M | $93.0M | — | View 990 |
| 2022 | $50.7M | $35.6M | $195.4M | $5 | — | View 990 |
| 2021 | $48.4M | $52.2M | $164.5M | $34.3M | — | View 990 |
| 2020 | $35.3M | $35.8M | $144.0M | $10.0M | — | View 990 |
| 2019 | $38.0M | $36.2M | $98.9M | $1 | — | — |
| 2015 | $69.2M | $46.5M | $286.8M | $1 | — | View 990 |
| 2014 | $50.4M | $37.8M | $264.1M | $1 | — | View 990 |
| 2013 | $48.5M | $31.9M | $251.5M | $0 | — | View 990 |
| 2012 | $44.9M | $39.0M | $235.0M | $0 | — | View 990 |
| 2011 | $43.4M | $31.1M | $229.1M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $21.6M, expenses of $49.0M, and assets of $211.0M (revenue -57.5% year-over-year).
- 2022: Revenue of $50.7M, expenses of $35.6M, and assets of $195.4M (revenue +4.8% year-over-year).
- 2021: Revenue of $48.4M, expenses of $52.2M, and assets of $164.5M (revenue +37.2% year-over-year).
- 2020: Revenue of $35.3M, expenses of $35.8M, and assets of $144.0M (revenue -7.2% year-over-year).
- 2019: Revenue of $38.0M, expenses of $36.2M, and assets of $98.9M (revenue -45.0% year-over-year).
- 2015: Revenue of $69.2M, expenses of $46.5M, and assets of $286.8M (revenue +37.2% year-over-year).
- 2014: Revenue of $50.4M, expenses of $37.8M, and assets of $264.1M (revenue +4.0% year-over-year).
- 2013: Revenue of $48.5M, expenses of $31.9M, and assets of $251.5M (revenue +8.1% year-over-year).
- 2012: Revenue of $44.9M, expenses of $39.0M, and assets of $235.0M (revenue +3.3% year-over-year).
- 2011: Revenue of $43.4M, expenses of $31.1M, and assets of $229.1M.
Data Sources and Methodology
This transparency report for Hess Foundation Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.