Civic Intelligence

The Blackstone Charitable Foundation

990 • Fiscal year 2014 • EIN 26-0462996

Jul 01, 2013 to Jun 30, 2014 • Filed on May 15, 2015

345 Park AvenueSuite10154

(212) 583-5465

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

21st percentile

0.09x

Higher debt load relative to assets than 21% of similar nonprofits.

2014 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2014

Liabilities / Revenue

34th percentile

0.32x

Higher debt load relative to revenue than 34% of similar nonprofits.

2014 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2014

Net Margin

91st percentile

46%

Higher net margin than 91% of similar nonprofits.

2014 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2014

Top Officer Pay

49th percentile

$452,216

Higher top officer pay than 49% of similar nonprofits.

Top officer pay equals 1.4% of source-year revenue.

2014 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2014

Asset Growth

93rd percentile

31%

Faster asset growth than 93% of similar nonprofits.

2014 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2013 to 2014

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2014

Assets

Up

$117,809,073

Up $27,542,448 (+31%) from 2013

Net Assets

Up

$107,635,274

Up $20,801,970 (+24%) from 2013

Liabilities

Up

$10,173,799

Up $6,740,478 (+196%) from 2013

Revenue

$31,880,550

No earlier filing loaded for comparison.

Expenses

Up

$17,068,788

Up $3,624,695 (+27%) from 2013

Net Income

$14,811,762

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$150M$100M$50M$0Assets 2010: $55,672,783Liabilities 2010: $3,037,507Net Assets 2010: $52,635,2762010Assets 2012: $68,882,325Liabilities 2012: $3,220,627Net Assets 2012: $65,661,6982012Assets 2013: $90,266,625Liabilities 2013: $3,433,321Net Assets 2013: $86,833,3042013Assets 2014: $117,809,073Liabilities 2014: $10,173,799Net Assets 2014: $107,635,2742014Assets 2015: $103,845,750Liabilities 2015: $3,807,548Net Assets 2015: $100,038,2022015Assets 2016: $85,305,228Liabilities 2016: $6,271,998Net Assets 2016: $79,033,2302016Assets 2017: $96,927,644Liabilities 2017: $3,727,223Net Assets 2017: $93,200,4212017Assets 2020: $102,245,133Liabilities 2020: $21,756,788Net Assets 2020: $80,488,3452020Assets 2021: $141,651,293Liabilities 2021: $21,103,673Net Assets 2021: $120,547,6202021Assets 2022: $132,078,578Liabilities 2022: $11,030,164Net Assets 2022: $121,048,4142022Assets 2024: $142,024,876Liabilities 2024: $10,559,089Net Assets 2024: $131,465,7872024

Highlighted filing

2014

Assets$117,809,073
Liabilities$10,173,799
Net Assets$107,635,274

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$40M$20M$0-$20MExpenses 2010: $6,443,1022010Expenses 2012: $8,944,0032012Expenses 2013: $13,444,0932013Revenue 2014: $31,880,550Expenses 2014: $17,068,788Net Income 2014: $14,811,7622014Revenue 2015: $16,288,475Expenses 2015: $17,868,447Net Income 2015: -$1,579,9722015Revenue 2016: $2,786,716Expenses 2016: $14,683,023Net Income 2016: -$11,896,3072016Revenue 2017: $17,823,083Expenses 2017: $9,976,088Net Income 2017: $7,846,9952017Revenue 2020: $4,248,129Expenses 2020: $23,722,884Net Income 2020: -$19,474,7552020Revenue 2021: $22,568,243Expenses 2021: $25,688,485Net Income 2021: -$3,120,2422021Revenue 2022: $22,396,641Expenses 2022: $16,669,834Net Income 2022: $5,726,8072022Revenue 2024: $18,104,838Expenses 2024: $20,524,677Net Income 2024: -$2,419,8392024

Highlighted filing

2014

Revenue$31,880,550
Expenses$17,068,788
Net Income$14,811,762
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
May 15, 2015
Return Version
2013v4.0
Gross Receipts
$97,237,571
Mission and Program Overview

Mission

Support of a wide range of projects that demonstrate innovation and forward thinking in their approach to problem solving and improving economic and social conditions.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$60,211,552$81,998,383▲ $21,786,831
Investments in Publicly Traded Securities$27,892,639$32,759,853▲ $4,867,214
Savings and Temporary Cash Investments$2,162,434$3,050,837▲ $888,403
Cash and Non-Interest-Bearing Accounts$0$0→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0$0→ $0
Land, Buildings, and Equipment, Net$0--
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$90,266,625$117,809,073▲ $27,542,448
Other Assets Total$0$0→ $0
Liabilities
Other Liabilities$3,253,852$9,895,797▲ $6,641,945
Accounts Payable and Accrued Expenses$81,469$203,002▲ $121,533
Grants Payable$98,000$75,000▼ $23,000
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$3,433,321$10,173,799▲ $6,740,478
Net Assets / Fund Balance
Unrestricted Net Assets$86,833,304$107,635,274▲ $20,801,970
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$86,833,304$107,635,274▲ $20,801,970
Total Liabilities and Net Assets / Fund Balance$90,266,625$117,809,073▲ $27,542,448

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$39,262,163--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Amy StursbergExecutive DirectorFT$258,529$193,687$452,216
Antonio TolentinoProgram DirectorFT$131,000$8,077$139,077
Lindsey CohenFoundation AdministratorFT$95,503$8,820$104,323

Board Members and Trustees

NameTitle
Joan SolotarChair
Sean KlimczakPresident
Bill SteinDirector
Bob FriedmanDirector
Christine AndersonDirector
Dwight ScottDirector
Erik LisherDirector
John StudzinskiDirector
Matt SkurbeDirector
John MccormickSecretary
Brian GavinTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$5,618,138
Program Service Revenue
$0
Investment Income
$26,262,412
Other Revenue
$0
All Other Contributions
$5,618,138
Change in Net Assets
$14,811,762

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported Amount
Secur Prtnrshp Trust Intrsts8$5,508,734
Total Noncash Contributions8$5,508,734

Audited Revenue Reconciliation

Revenue per Audited Statements
$31,880,550
Revenue Not Reported on Form 990
$6,055,718
Total Revenue per Audited Statements
$37,936,268
Total Revenue per Form 990
$31,880,550
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$14,508,396
Other Expenses$1,678,408
Salaries, Compensation, and Employee Benefits$881,984
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$14,474,795--$14,474,795
Current Officers, Directors, Trustees, and Key Employees$316,476$117,053$0$433,529
Fees for Services Other$411,666$14,000-$425,666
Other Salaries and Wages$258,684$97,834-$356,518
Travel$284,803$8,909-$293,712
Fees for Services Accounting-$102,156-$102,156
All Other Expenses$52,512$13,136-$65,648
Office Expenses$11,956$48,368-$60,324
Payroll Taxes$31,641$11,821-$43,462
Other Employee Benefits$29,642$11,074-$40,716
Foreign Grants$33,601--$33,601
Pension Plan Contributions$5,649$2,110-$7,759
Other Expenses$4,984$1,582-$1,582
Total Functional Expenses$15,916,409$1,152,379$0$17,068,788

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$17,134,298
Expenses per Audited Statements$17,068,788
Total Expenses per Form 990$17,068,788
Expenses Not Reported on Form 990$65,510
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
36-1408475-501(c)(3)Donation$1,750,000
56-6001393-501(c)(3)Donation$1,177,000
59-0624458-501(c)(3)Donation$1,082,082
84-6049811-501(c)(3)Donation$1,000,000
59-0624458-501(c)(3)Donation$730,000
11-0303001-501(c)(3)Donation$597,746
59-0624458-501(c)(3)Donation$493,000
01-0529871-501(c)(3)Donation$418,663
56-6001393-501(c)(3)Donation$362,000
13-1740451-501(c)(3)Donation$300,000
59-0624458-501(c)(3)Donation$300,000
95-1642394-501(c)(3)Donation$263,520
04-2103580-501(c)(3)Donation$250,000
95-6006143-501(c)(3)Donation$222,785
34-6598971-501(c)(3)Donation$222,660
34-6598971-501(c)(3)Donation$217,474
13-3465803-501(c)(3)Donation$200,000
13-1837409-501(c)(3)Donation$150,000
03-6016791-501(c)(3)Donation$100,000
14-1782466-501(c)(3)Donation$100,000
56-0532129-501(c)(3)Donation$100,000
13-5644916-501(c)(3)Donation$100,000
23-1352688-501(c)(3)Donation$100,000
46-0809190-501(c)(3)Donation$84,000
13-1624241-501(c)(3)Donation$80,000
95-3643339-501(c)(3)Donation$79,250
52-2018791-501(c)(3)Donation$75,000
65-0206641-501(c)(3)Donation$75,000
27-2987904-501(c)(3)Donation$75,000
84-0399006-501(c)(3)Donation$62,500
45-3980649-501(c)(3)Donation$62,500
77-0485877-501(c)(3)Donation$60,000
45-0470675-501(c)(3)Donation$56,500
59-0624458-501(c)(3)Donation$55,000
95-2226406-501(c)(3)Donation$54,191
13-1889074-501(c)(3)Donation$50,000
52-0742294-501(c)(3)Donation$50,000
45-2137574-501(c)(3)Donation$50,000
53-0196577-501(c)(3)Donation$50,000
94-3386695-501(c)(3)Donation$50,000
23-7439789-501(c)(3)Donation$50,000
13-1740451-501(c)(3)Donation$50,000
13-4186070-501(c)(3)Donation$50,000
13-6159699-501(c)(3)Donation$50,000
13-2566973-501(c)(3)Donation$50,000
13-5562314-501(c)(3)Donation$50,000
45-4308444-501(c)(3)Donation$50,000
84-1530768-501(c)(3)Donation$50,000
62-1765738-501(c)(3)Donation$50,000
62-1765738-501(c)(3)Donation$50,000
51-0198509-501(c)(3)Donation$50,000
23-7135898-501(c)(3)Donation$50,000
13-2617681-501(c)(3)Donation$50,000
27-0456475-501(c)(3)Donation$50,000
27-2987904-501(c)(3)Donation$50,000
06-0646973-501(c)(3)Donation$50,000
04-3534407-501(c)(3)Donation$50,000
37-1702739-501(c)(3)Donation$40,000
13-4025290-501(c)(3)Donation$35,000
45-0470675-501(c)(3)Donation$35,000
13-1924236-501(c)(3)Donation$33,333
37-1702739-501(c)(3)Donation$32,500
13-3801336-501(c)(3)Donation$30,000
13-1641069-501(c)(3)Donation$30,000
51-0453629-501(c)(3)Donation$30,000
13-1255270-501(c)(3)Donation$30,000
06-1517218-501(c)(3)Donation$30,000
13-1641077-501(c)(3)Donation$25,875
13-1788491-501(c)(3)Donation$25,000
25-1306992-501(c)(3)Donation$25,000
65-0427215-501(c)(3)Donation$25,000
13-5562184-501(c)(3)Donation$25,000
33-0739596-501(c)(3)Donation$25,000
13-3170676-501(c)(3)Donation$25,000
15-0532082-501(c)(3)Donation$25,000
11-6107128-501(c)(3)Donation$25,000
31-1734086-501(c)(3)Donation$25,000
27-4374555-501(c)(3)Donation$25,000
13-3688519-501(c)(3)Donation$25,000
26-0413943-501(c)(3)Donation$25,000
26-0413943-501(c)(3)Donation$25,000
20-1664531-501(c)(3)Donation$25,000
13-3691252-501(c)(3)Donation$25,000
13-1924236-501(c)(3)Donation$25,000
13-1924236-501(c)(3)Donation$25,000
27-1052771-501(c)(3)Donation$25,000
23-7059679-501(c)(3)Donation$25,000
13-2566973-501(c)(3)Donation$25,000
53-0242652-501(c)(3)Donation$25,000
13-3444193-501(c)(3)Donation$25,000
13-3160356-501(c)(3)Donation$25,000
13-1887440-501(c)(3)Donation$25,000
13-3340675-501(c)(3)Donation$25,000
26-4434478-501(c)(3)Donation$25,000
57-1174548-501(c)(3)Donation$25,000
13-3840396-501(c)(3)Donation$25,000
22-3607512-501(c)(3)Donation$25,000
74-1109620-501(c)(3)Donation$25,000
23-7098123-501(c)(3)Donation$25,000
51-0178429-501(c)(3)Donation$25,000
13-2617681-501(c)(3)Donation$25,000
23-1352685-501(c)(3)Donation$25,000
23-1352685-501(c)(3)Donation$25,000
13-3465803-501(c)(3)Donation$25,000
15-0532082-501(c)(3)Donation$25,000
59-0637867-501(c)(3)-$25,000
13-2925233-501(c)(3)Donation$24,000
13-3277408-501(c)(3)Donation$22,500
13-5562185-501(c)(3)Donation$20,500
13-1623915-501(c)(3)Donation$20,000
20-3971209-501(c)(3)Donation$20,000
04-2103594-501(c)(3)Donation$20,000
23-1352685-501(c)(3)Donation$20,000
13-1624086-501(c)(3)Donation$17,500
13-5660870-501(c)(3)Donation$16,000
13-5563393-501(c)(3)Donation$15,000
13-3212867-501(c)(3)Donation$15,000
23-7363555-501(c)(3)Donation$15,000
26-2573681-501(c)(3)Donation$15,000
11-2517055-501(c)(3)Donation$15,000
22-3785561-501(c)(3)Donation$15,000
13-2711338-501(c)(3)Donation$15,000
26-1572599-501(c)(3)Donation$15,000
46-1069453-501(c)(3)Donation$15,000
22-3607512-501(c)(3)Donation$15,000
51-0178429-501(c)(3)Donation$15,000
24-0795495-501(c)(3)Donation$15,000
52-1936144-501(c)(3)Donation$15,000
23-1352685-501(c)(3)Donation$13,216
25-1306992-501(c)(3)Donation$12,500
13-5591750-501(c)(3)Donation$12,500
11-3048002-501(c)(3)Donation$12,500
13-5562185-501(c)(3)Donation$12,500
03-6016791-501(c)(3)Donation$10,500
13-6162659-501(c)(3)Donation$10,000
13-3630066-501(c)(3)Donation$10,000
13-3234632-501(c)(3)Donation$10,000
13-1837409-501(c)(3)Donation$10,000
26-0506911-501(c)(3)Donation$10,000
52-2050972-501(c)(3)Donation$10,000
06-0647007-501(c)(3)Donation$10,000
23-7439789-501(c)(3)Donation$10,000
13-1641069-501(c)(3)Donation$10,000
13-1692606-501(c)(3)Donation$10,000
13-3449416-501(c)(3)Donation$10,000
13-3688519-501(c)(3)Donation$10,000
13-3062419-501(c)(3)Donation$10,000
13-1675082-501(c)(3)Donation 501(c)(3)$10,000
13-3926439-501(c)(3)Donation$10,000
13-2658549-501(c)(3)Donation$10,000
13-1924236-501(c)(3)Donation$10,000
13-4200404-501(c)(3)Donation$10,000
52-1433877-501(c)(3)Donation$10,000
13-6013760-501(c)(3)Donation$10,000
13-3149298-501(c)(3)Donation$10,000
04-3519203-501(c)(3)Donation$10,000
45-3539495-501(c)(3)Donation$10,000
13-5660278-501(c)(3)Donation$10,000
06-1264823-501(c)(3)Donation$10,000
13-1740483-501(c)(3)Donation$10,000
13-3565420-501(c)(3)Donation$10,000
13-3021180-501(c)(3)Donation$10,000
20-5061316-501(c)(3)Donation$10,000
13-3255679-501(c)(3)Donation$10,000
13-3686664-501(c)(3)Donation$10,000
13-5563003-501(c)(3)Donation$10,000
13-5598093-501(c)(3)Donation$10,000
13-2617681-501(c)(3)Donation$10,000
13-1635294-501(c)(3)Donation$10,000
23-1352685-501(c)(3)Donation$10,000
23-1352685-501(c)(3)Donation$10,000
13-3884881-501(c)(3)Donation$7,500
54-2143612-501(c)(3)Donation$7,500
32-0033325-501(c)(3)Donation$7,500
52-1495060-501(c)(3)Donation$6,500
52-1814447-501(c)(3)Donation$6,000
13-5562221-501(c)(3)Donation$5,500

International Summary

Spending
$36,275,643

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
Yes
Transfers to foreign corporations
Yes

International Activities

RegionActivityServicesOfficesEmployeesSpending
Central America and the CaribbeanInvestments---$36,242,042
Europe (Including Iceland and Greenland)Grantmaking---$33,601
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Broker$6,750,000
Services Partnership LLC$3,067,846
Business Income Taxes Payable$77,951
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part 1, Line 4 and Part VI, Section A, Line 2

Relationships: the foundation's board of directors is comprised of employees of the blackstone group, lp. Blackstone group management llc, which serves as the general partner of the blackstone group lp, is the sole member of the foundation. As the foundation's board of directors are compensated as employees of a related organization, they are not deemed to be independent voting members of the foundation's governing board. The blackstone group, lp through its wholly owned entity blackstone adminstrative services partnership llc ("services"), provides the foundation with office space and grant and investment management services without charge. In addition, services provides an on-going interest-free loan to the foundation, in order to fund a portion of its charitable activities, payroll and benefits for the foundation staff (services acts as common paymaster), and other related administrative costs. The foundation currently reimburses services on a monthly basis for all advances from the previous month. The maturity date of the outstanding balance is december 31, 2015.

Form 990, Part VI, Section B, Line 11B

Review of form 990: management and outside counsel for the foundation review the draft form 990. Upon completion of the reviews, the full board of directors receive the approved draft prior to its electronic filing with the internal revenue service.

Form 990, Part VI, Section B, Line 12C

Conflict of interest policy: each member of the board of directors is required to complete and sign an annual acknowledgement of compliance with the foundation's conflict of interest policy and report any potential conflicts.

Form 990, Part VI, Section B, Line 15B

Determination of compensation of the executive director: the compensation of the foundation's executive director has been ratified by the full board of directors using data for comparable positions from public sources, including surveys compiled from the forms 990 of like sized organizations.

Form 990, Part VI, Section C, Line 19

Availability of governing documents: copies of the foundation's form 990 and annual audited financial statements are available for public inspection upon request.

Filing and Contact Details

Filer

EIN
26-0462996
In Care Of
% AMY STURSBERG
Phone
2125835465

Signing Officer

Name
Amy Stursberg
Title
Executive Director
Phone
2125835465
Signed
2015-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Amy Stursberg
Formed
2007
Legal Domicile
De
Voting Board Members
11
Independent Board Members
0
Employees
5
Volunteers
0

Preparer

Preparer
Julie Floch
Phone
2125835465
Supplemental Narrative

Additional Explanations

Form 8868

Extension of time to file for an exempt organization: applications for extensions of time to file an exempt organization return were electronically filed.

Financial Statement Notes

Form 990, Schedule D, Part X, Question 2

The foundation follows the provisions of the financial accounting standards board's (the "fasb") accounting standards codification ("asc") topic 740, "income taxes" relating to accounting and reporting for income taxes, including uncertainties. Since the foundation has always recorded the potential tax liability for excise tax, and due to its general tax-exempt status, asc topic 740 has not had, and is not expected to have, a material effect on its financial statements. There were no income tax-related interest or penalties recorded for fiscal years 2014 and 2013. The foundation is no longer subject to examination by federal or state tax authorities for fiscal-years prior to 2011.

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IRS990/Desc0In 2010, the Foundation launched "The Blackstone Entrepreneurship Initiative" (the "Initiative"), to create connected networks, or "ecosystems," of master coaches in regions across the nation and around the world. Through these connecting ecosystems, the Foundation's goal is to build an elite global network of master coaches and entrepreneurial support for aspiring entrepreneurs, and in turn, the high-growth businesses and industries that are most known to spark economic growth. Accordingly, the Foundation has directed its support, within the Initiative, toward the following programs: Blackstone LaunchPad is a national model for fostering entrepreneurship through higher education. Based on a successful program at the University of Miami, it encourages entrepreneurial thinking and activity among undergraduate and graduate students, as well as among faculty and alumni, for the purpose of incubating a new generation of entrepreneurs who will contribute to the economic revitalization of distressed regions. The Foundation has awarded $12,000,000 in conditional funding for Blackstone LaunchPad, of which $6,856,000 had been paid through June 30, 2014. Blackstone Entrepreneurs Network is an initiative to strengthen existing entrepreneurial ecosystems in struggling areas by building a network of master entrepreneurs and connecting them with a pipeline of potential high-growth ventures. The Foundation has awarded $7,640,500 in conditional funding for Blackstone Entrepreneurs Network, of which $4,992,000 had been paid through June 30, 2014. Blackstone Accelerates Growth spurs economic growth and is designed to help historically resource-based economies transition to innovation economies. Rural economies in the United States must overcome unique challenges, including geographically dispersed population centers and lower levels of innovation and R&D investments. Blackstone Accelerates Growth promotes entrepreneurship by coordinating a critical network of entrepreneurial services to high-potential companies in newly created innovation hubs. The Foundation has awarded $3,000,000 in conditional funding for Blackstone Accelerates Growth, of which $1,266,000 had been paid through June 30, 2014. The Blackstone Innovation Grants program makes targeted grants to entrepreneurial organizations that spread the ideals of entrepreneurship and benefit local communities. In coordination with its regional efforts to spur entrepreneurship around the country and the world, the Foundation is creating a national and global network in which the participating organizations can share best practices, methodologies, and contacts, and are connected with Blackstone's intellectual capital and resources. The Foundation has awarded $2,600,000 in conditional funding for Innovation Grants, of which $1,825,000 had been paid through June 30, 2014.
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IRS990/MissionDesc0THE BLACKSTONE CHARITABLE FOUNDATION (THE "FOUNDATION") SERVES AS THE PRIMARY VEHICLE FOR FUTURE CHARITABLE GIVING ON BEHALF OF THE SENIOR MANAGING DIRECTORS AND EMPLOYEES OF THE BLACKSTONE GROUP L.P. ("BLACKSTONE"). THE FOUNDATION'S PHILANTHROPY EXTENDS TO SUPPORTING COMMUNITIES IN NEED, IN GEOGRAPHIC AREAS WHERE BLACKSTONE WORKS AND LIVES, WHICH CAN BENEFIT FROM BLACKSTONE'S INTELLECTURAL AND FINANCIAL CAPITAL. THE FOUNDATION DIRECTS SUPPORT TO A RANGE OF PROJECTS AND ORGANIZATIONS THAT DEMONSTRATE INNOVATION AND FORWARD THINKING IN THEIR APPROACH TO PROBLEM SOLVING AND IMPROVING ECONOMIC AND SOCIAL CONDITIONS. On April 30, 2010, the Foundation launched "The Blackstone Entrepreneurship Initiative" (the "Initiative"), a five-year, $50,000,000 conditional initiative to create connected networks, or "ecosystems", of master coaches in regions across the nation and around the world. Through these connecting ecosystems, the Foundation's goal is to build an elite global network of master co
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt04072678
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt03497332
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt02112658
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt02381820
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0704824
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt012769312
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.25909
IRS990ScheduleA/PublicSupportPY170Pct00.39020
IRS990ScheduleA/PublicSupportTotal170Amt09890091
IRS990ScheduleA/SubstantialContributorsTotAmt015513600

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