NATIONAL PHILANTHROPIC TRUST

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1996

Legal Domicile

Principal Officer

CHRISTINA HACK

Phone

2152773010

Tax Period

2024-07-01 to 2025-06-30

NATIONAL PHILANTHROPIC TRUST, founded in 1996, is a large national nonprofit in the Philanthropy & Grantmaking sector that reported $17.8B in total revenue in fiscal year 2024. Revenue grew 12% year-over-year, indicating healthy expansion. The organization ran a surplus of $11.2B, a strong 63% operating margin.

Mission

NATIONAL PHILANTHROPIC TRUST ("NPT") IS A PUBLIC CHARITY DEDICATED TO INCREASING PHILANTHROPY IN SOCIETY BY PROVIDING PHILANTHROPIC EXPERTISE TO DONORS, FOUNDATIONS AND FINANCIAL INSTITUTIONS, ENABLING THEM TO REALIZE THEIR PHILANTHROPIC ASPIRATIONS (SEE SCHEDULE O).

Program Service Accomplishments

Program 1

Expenses: $6,529,244,252 Revenue: $2,855,048

NPT GRANTED $6.42 BILLION TO QUALIFIED CHARITABLE ORGANIZATIONS IN THE U.S. AND 67 OTHER COUNTRIES ON BEHALF OF ITS DONORS IN THE TAX YEAR ENDING JUNE 30, 2025. NPT DONORS RECOMMENDED MORE THAN...

NPT GRANTED $6.42 BILLION TO QUALIFIED CHARITABLE ORGANIZATIONS IN THE U.S. AND 67 OTHER COUNTRIES ON BEHALF OF ITS DONORS IN THE TAX YEAR ENDING JUNE 30, 2025. NPT DONORS RECOMMENDED MORE THAN 161,000 GRANTS FROM THEIR DAFS TO OVER 48,000 CHARITABLE ORGANIZATIONS DURING THE TAX YEAR. ADDITIONALLY, NPT CONTINUED ENHANCING DONOR ONLINE EXPERIENCES, PHILANTHROPIC SERVICE OFFERINGS, INVESTMENT OPTIONS, AND GRANTMAKING CAPABILITIES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $15,153,667,777

Program Service Revenue $0

Investment Income $2,638,272,235

Other Revenue $2,999,550

TOTAL REVENUE $17,794,939,562

Expense Breakdown

Grants Paid $6,415,072,479

Salaries & Benefits $38,722,797

Fundraising Expenses $12,874,033

Program Expenses $6,529,244,252

Other Expenses $121,935,205

TOTAL EXPENSES $6,575,730,481

Year-over-Year Comparison

	2024	2023	Change
Revenue	$17,794,939,562	$15,875,636,840	+0.1%
Expenses	$6,575,730,481	$5,698,880,841	+0.2%
Net Income	$11,219,209,081	$10,176,755,999	+0.1%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✓ Lobbying ✗ Political Activity ✓ Foreign Activities ✓ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

310

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

⚠ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✓ Engaged in Lobbying

✓ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$2,856,242

Total Directors

$801,307

Key Employees

$2,957,805

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
HOLLY WELCH STUBBING	PRESIDENT & CEO (AS OF 2/26/25)	40.00	Officer Director	$781,583	$19,724	$801,307
JEFFREY ARMBRISTER	TRUSTEE	2.00	Director	$0	$0	$0
PETE CARLSON	TRUSTEE (AS OF 6/16/25)	2.00	Director	$0	$0	$0
CONNIE COLLINGSWORTH	TRUSTEE	2.00	Director	$0	$0	$0
ANN DUGAN	TRUSTEE	2.00	Director	$0	$0	$0
JULIUS GREEN	TRUSTEE	2.00	Director	$0	$0	$0
STEPHEN HOPKINS	TRUSTEE	2.00	Director	$0	$0	$0
DIRK JUNGE	TRUSTEE (THRU 10/31/24)	2.00	Director	$0	$0	$0
LINDY MORENO	TRUSTEE	2.00	Director	$0	$0	$0
LISA PATTIS	TRUSTEE	2.00	Director	$0	$0	$0
ERIC REEVES	TRUSTEE	2.00	Director	$0	$0	$0
DIANA SANDS	TRUSTEE	2.00	Director	$0	$0	$0
PAUL SCHREIBER	TRUSTEE (THRU 10/31/24)	2.00	Director	$0	$0	$0
MANISH SHAH	TRUSTEE	2.00	Director	$0	$0	$0
WARREN THALER	TRUSTEE (AS OF 10/31/24)	2.00	Director	$0	$0	$0
TAMARA WATTS	TRUSTEE (AS OF 10/31/24)	2.00	Director	$0	$0	$0
DAVID WEZDENKO	TRUSTEE	2.00	Director	$0	$0	$0
SUZANNE YOON	TRUSTEE	2.00	Director	$0	$0	$0
LINDA MYERS	TRUSTEE, CHAIR	4.00	Officer Director	$0	$0	$0
JORAM BORENSTEIN	TRUSTEE, VICE CHAIR	2.00	Officer Director	$0	$0	$0
CHRISTINA HACK	CHIEF FINANCIAL OFFICER, TREASURER	40.00	Officer	$411,959	$39,803	$451,762
ANDREA C RUSH - SVP	PHILANTHROPIC SERVICES, ASST SEC.	40.00	Officer	$320,479	$51,571	$372,050
CHRIS BLUME - CHIEF OPERATING	OFFICER, ASST TREAS. (AS OF 2/26/25)	40.00	Officer	$320,142	$43,468	$363,610
JEREMY SCHWARTZ	VP FINANCE, ASST TREASURER	40.00	Officer	$303,644	$40,676	$344,320
DEBRA FALK	DEPUTY GENERAL COUNSEL, SECRETARY	40.00	Officer	$262,430	$43,822	$306,252
QUINN ROWAN	PARALEGAL, ASST SECRETARY	40.00	Officer	$101,518	$34,645	$136,163
KISHOR DAGA - VP FIN REPORTING	ASST TREASURER (AS OF 2/26/25)	40.00	Officer	$80,778	$0	$80,778
JOHN CANADY	CEO - NPT UK AND NPT TRANSATLANTIC	40.00	Key Emp	$547,400	$42,325	$589,725
GIL A NUSBAUM	CHIEF ADMINISTRATIVE & LEGAL OFFICER	40.00	Key Emp	$516,967	$53,140	$570,107
JENNIFER MULHALL-BRERETON	CHIEF PHILANTHROPY OFFICER	40.00	Key Emp	$515,764	$20,700	$536,464
ANDREW W HASTINGS - EXECUTIVE	FAMILY OFFICE & PRIVATE CLIENT DEV.	40.00	Key Emp	$436,536	$37,185	$473,721
JAIDIP CHANDA THRU 101824	CHIEF DEVELOPMENT OFFICER	40.00	Key Emp	$431,400	$14,436	$445,836
MATT ROVI	CHIEF GROWTH OFFICER (AS OF 1/16/25)	40.00	Key Emp	$298,654	$43,298	$341,952
CHRISTOPHER P ADAMS	CHIEF INFORMATION OFFICER	40.00	Highest	$612,147	$21,503	$633,650
ELIZABETH MONAHAN	CHIEF HUMAN RESOURCES OFFICER	40.00	Highest	$433,233	$47,774	$481,007
JOSEPH C GAJEWSKI - EXECUTIVE	FAMILY OFFICE & PRIVATE CLIENT REL.	40.00	Highest	$422,374	$42,099	$464,473
JEFFREY C GEROLD	VP ADVISOR ENGAGEMENT DEVELOPMENT	40.00	Highest	$328,572	$41,676	$370,248
LISA BARR	SENIOR DIR., REGIONAL DEVELOPMENT	40.00	Highest	$291,127	$24,710	$315,837
EILEEN R HEISMAN	FORMER PRESIDENT & CEO	0.00		$1,035,821	$27,936	$1,063,757

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$17,794,939,562	$6,575,730,481	$56,096,033,883	$11,219,209,081
2024	$15,875,636,840	$5,698,880,841	$42,227,968,504	$10,176,755,999
2023	$10,049,957,919	$4,551,288,607	$28,241,290,750	$5,498,669,312
2022	$14,381,775,406	$5,636,152,371	$21,633,283,286	$8,745,623,035
2021	$9,451,775,219	$6,452,766,122	$15,989,076,969	$2,999,009,097
2020	$5,359,931,234	$2,338,371,955	$10,895,730,712	$3,021,559,279
2019	$2,858,611,746	$1,392,264,229	$7,903,084,730	$1,466,347,517
2018	$2,946,578,916	$1,019,825,493	$6,088,409,005	$1,926,753,423