New IRS Statistics: Private Foundations

The IRS Statistics of Income (SOI) office has released private foundation data for tax year 2022. Here are some highlights:

• 109,351 domestic private foundations filed annual returns, of which 99,693 were nonoperating foundations (mostly but not entirely grantmaking foundations) and 9,658 were operating foundations (almost half of which also engaged in grantmaking).
• Private foundations reported over $190 billion in total revenue, which included almost $125 billion in contributions, gifts, and grants received (but more than half of the reporting foundations did not receive any contributions, gifts, or grants), and over $142 billion in total expenses, including almost $128 billion in disbursements for exempt purposes.
• Private foundations also reported over $1.3 trillion in total assets, including over $1.2 trillion in total investment assets (both figures based on fair market value).
• Private foundations paid almost $1 billion in excise taxes on net investment income.
• There were 1,612 private foundations with $100 million or more in assets.