Total Spending
The 2009 increase in total spending was largely driven by the costs associated with the Fund’s relocation from midtown to Morningside Heights. These onetime green buildout and move-related expenses of approximately $8 million increased spending levels in 2009. Total spending for 2011 was $41,068,949, down slightly from $41,102,483 in 2010. When excluding core operating costs of The Pocantico Center from the RBF’s spending figures, grants represented 75.9 percent of the RBF’s spending in 2011, which is consistent with previous years. In addition to the $28.3 million in grant payments, the Fund spent a combined total of $1.5 million to further support grantees and other nonprofit organizations through program-related expenditures, conferences at The Pocantico Center, and direct charitable activities. Spending on grantmaking and administration at the Fund’s headquarters, and operations in southern China and the Western Balkans accounted for 91 percent of total spending, and The Pocantico Center for 9 percent.
The Rockefeller Brothers Fund’s combined administrative and capital expenses, net of estimated investment-related expenses of $370,000, were $8,420,041. This does not include Pocantico operations, but does include direct charitable activities. Personnel costs (direct and indirect compensation) accounted for 71 percent of total administrative expenses, consistent with 70 percent in 2010. Cost-saving measures implemented across the organization during 2009 have been maintained in order to keep administrative expenditures as lean as possible.
Key Terminology
Spending: Expenditures that count toward satisfying the minimum I.R.S. distribution requirement. Under I.R.S. regulations, a private foundation generally must distribute at least 5 percent of the market value of its investments to support its mission. This amount for the Fund includes grants, program-related expenses, administration costs, and core operating and maintenance costs of The Pocantico Center.
Program-Related Expenditures: Non-grant expenses for activities that support the RBF’s grantmaking. This includes expenses such as onsultancies, convenings, and direct charitable activities that support the Fund’s grantmaking.
Direct Charitable Activities: Activities that are classified as administrative expenses, although they represent charitable activities (e.g. technical assistance and board service) carried out directly by the RBF staff.
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