FANNIE AND JOHN HERTZ FOUNDATION

EIN: 362411723 501(c)(3)

PLEASANTON, CA

Total Revenue
$12,220,559
Total Expenses
$7,500,495
Total Assets
$48,593,851
Net Assets
$45,716,010
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1945
Legal Domicile
IL
Principal Officer
WENDY CONNORS
Phone
9253731642
Tax Period
2024-07-01 to 2025-06-30

FANNIE AND JOHN HERTZ FOUNDATION, founded in 1945, is a mid-sized nonprofit that reported $12.2M in total revenue in fiscal year 2024. Revenue surged 46% from the prior year, signaling strong growth momentum. The organization ran a surplus of $4.7M, a strong 39% operating margin.

Mission

THE HERTZ FOUNDATION IS COMMITTED TO ADVANCING AMERICAN SCIENTIFIC AND TECHNOLOGICAL LEADERSHIP. FOR NEARLY 70 YEARS, THE HERTZ FOUNDATION IDENTIFIED AND EMPOWERED THE NATION'S MOST EXCEPTIONAL INNOVATORS IN SCIENCE AND TECHNOLOGY, FUELING A LIFELONG COMMUNITY DEDICATED TO SOLVING OUR MOST PRESSING PROBLEMS.

Program Service Accomplishments

Program 1
Expenses: $2,208,110

THE HERTZ FELLOWSHIP IS THE NATION'S MOST COMPETITIVE DOCTORAL FELLOWSHIP IN THE APPLIED SCIENCES, ENGINEERING AND MATHEMATICS. THE LARGEST EXPENSE CATEGORY IS THE FELLOWSHIP AWARD WHICH INCLUDES...

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THE HERTZ FELLOWSHIP IS THE NATION'S MOST COMPETITIVE DOCTORAL FELLOWSHIP IN THE APPLIED SCIENCES, ENGINEERING AND MATHEMATICS. THE LARGEST EXPENSE CATEGORY IS THE FELLOWSHIP AWARD WHICH INCLUDES TUITION AND STIPEND FOR EACH STUDENT IN SCHOOL. IN FY '25, THIS SUPPORTED 71 STUDENTS AND REPRESENTED 43% OF THE TOTAL EXPENSE BUDGET. THE AMOUNT NEEDED FOR TUITION AND STIPEND WAS LOWER THAN ANTICIPATED FOR A VERY POSITIVE REASON: MANY STUDENTS ALSO WON OTHER PRIZES/AWARDS WHICH PARTIALLY REPLACED THE NEED FOR SUPPORT FROM THE HERTZ FOUNDATION. THE RECENT INVESTMENT IN FUNDRAISING HAS BEEN QUICK TO SHOW SUCCESS AND IS GROWING ANNUALLY, SUPPORTING THE FOUNDATION'S OPERATIONS AND ADDING TO THE ENDOWMENT FOR THE FIRST TIME IN 20 YEARS. THE FOUNDATION DOES NOT YET HAVE THE ENDOWMENT LEVEL TO SUPPORT 25 NEW FELLOWSHIPS EACH YEAR, BUT IS STEADILY INCREASING AND EXPANDING ITS DONOR BASE TO ACHIEVE THIS GOAL.

Program 2
Expenses: $1,707,157

SELECTION AND MENTORING OF IN-SCHOOL FELLOWS: THE FOUNDATION'S PROCESS FOR SELECTING FELLOWSHIP RECIPIENTS IS THE MOST RIGOROUS IN THE US. MORE THAN 1,000 APPLICATIONS WERE RECEIVED AND REVIEWED BY...

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SELECTION AND MENTORING OF IN-SCHOOL FELLOWS: THE FOUNDATION'S PROCESS FOR SELECTING FELLOWSHIP RECIPIENTS IS THE MOST RIGOROUS IN THE US. MORE THAN 1,000 APPLICATIONS WERE RECEIVED AND REVIEWED BY THE SELECTION COMMITTEE, COMPRISED OF LEADING SCIENTISTS, ENGINEERS, AND MATHEMATICIANS, MANY OF THEM ALUMNI FELLOWS. FOLLOWING TWO ROUNDS OF IN-PERSON INTERVIEWS, THE FOUNDATION AWARDS FELLOWSHIPS TO A GROUP OF 15 OR MORE CANDIDATES. THE PROGRESS OF IN-SCHOOL FELLOWS IS MONITORED IN A VARIETY OF WAYS, INCLUDING DISCUSSIONS WITH FELLOWS AND REPORTS.

Program 3
Expenses: $1,490,367

THE FOUNDATION SUPPORTS A LIFELONG, INTERDISCIPLINARY NETWORK OF MORE THAN 1,300 HERTZ FELLOWS WORLDWIDE, COLLECTIVELY RESPONSIBLE FOR SOME OF THE MOST SIGNIFICANT SCIENTIFIC AND TECHNOLOGICAL...

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THE FOUNDATION SUPPORTS A LIFELONG, INTERDISCIPLINARY NETWORK OF MORE THAN 1,300 HERTZ FELLOWS WORLDWIDE, COLLECTIVELY RESPONSIBLE FOR SOME OF THE MOST SIGNIFICANT SCIENTIFIC AND TECHNOLOGICAL PROGRESS OF THE PAST CENTURY. THE ANNUAL SUMMER WORKSHOP, TOPICAL FORUMS AND PARTNERSHIPS WITH INFLUENTIAL ORGANIZATIONS HAVE LED TO SIGNIFICANT BREAKTHROUGHS AND DELIVERED INNOVATIONS THAT IMPACT MILLIONS OF LIVES ACROSS THE NATION AND THE WORLD. THE FOUNDATION ALSO FACILITATES MENTORING RELATIONSHIPS AMONG FELLOWS TO SUPPORT THEIR PROFESSIONAL GROWTH AND WORKS WITH FELLOWS TO BUILD TAILORED INTERNSHIP EXPERIENCES. A LARGE PORTION OF THESE EXPENSES ARE OFFSET BY RESTRICTED DONOR GIFTS. THE FOUNDATION HAS ESTABLISHED SEVERAL AWARDS TO HIGHLIGHT EARLY-CAREER FELLOWS WHO ARE MAKING AN ACCELERATED IMPACT WITH THEIR WORK: THE HERTZ THESIS PRIZE, THE NEWMAN GALAS ENTREPRENEURIAL PRIZE, AND THE ROBBEE BAKER KOSAK LEADERSHIP PRIZE.

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Trantor Score

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $10,590,102
Program Service Revenue $0
Investment Income $1,628,959
Other Revenue $1,498
TOTAL REVENUE $12,220,559

Expense Breakdown

Grants Paid $2,233,110
Salaries & Benefits $2,478,158
Fundraising Expenses $1,298,410
Program Expenses $5,405,634
Other Expenses $2,789,227
TOTAL EXPENSES $7,500,495

Year-over-Year Comparison

2024 2023 Change
Revenue $12,220,559 $8,364,011 +0.5%
Expenses $7,500,495 $6,947,930 +0.1%
Net Income $4,720,064 $1,416,081 +2.3%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
21
Independent Members
21
Employees
13
Volunteers
201

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
8
$1,095,648
Total Directors
21
$0
Key Employees
2
$395,275
Highest Compensated
2
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
STEPHEN FANTONE CHAIRMAN 2.00
Officer Director
$0 $0 $0
CARLA NEWMAN SECRETARY 0.50
Officer Director
$0 $0 $0
PAUL M YOUNG TREASURER 0.50
Officer Director
$0 $0 $0
PHILIP WELKHOFF SENIOR FELLOWSHIP INTERVIE 10.00
Officer Director
$0 $0 $0
LEE SWANGER VICE CHAIR 0.50
Officer Director
$0 $0 $0
ELISE CAWLEY DIRECTOR 0.50
Director
$0 $0 $0
SAMUEL FULLER DIRECTOR 0.50
Director
$0 $0 $0
KIMBERLY BUDIL DIRECTOR 0.50
Director
$0 $0 $0
ROSEMARIE HAVRANEK DIRECTOR 0.50
Director
$0 $0 $0
RICHARD B MILES DIRECTOR 0.50
Director
$0 $0 $0
AMIR NASHAT DIRECTOR 0.50
Director
$0 $0 $0
RICHARD MILES DIRECTOR 0.50
Director
$0 $0 $0
CARL BURNS DIRECTOR 0.50
Director
$0 $0 $0
CHERI ACKERMAN DIRECTOR 0.50
Director
$0 $0 $0
RAY SIDNEY DIRECTOR 0.50
Director
$0 $0 $0
WILLIAM EVANS DIRECTOR 0.50
Director
$0 $0 $0
MAX MANKIN DIRECTOR 0.50
Director
$0 $0 $0
STEVEN LIPNER DIRECTOR 0.50
Director
$0 $0 $0
MICHAEL SCHNALL-LEVIN DIRECTOR 0.50
Director
$0 $0 $0
ALFRED SPECTOR DIRECTOR 0.50
Director
$0 $0 $0
CHRIS LOOSE DIRECTOR 0.50
Director
$0 $0 $0
WENDY CONNORS PRESIDENT 35.00
Officer
$296,095 $44,414 $340,509
ROBBEE KOSAK PRESIDENT (FORMER) 35.00
Officer
$507,714 $109,487 $617,201
THOMAS ROISUM CONTROLLER 35.00
Officer
$119,965 $17,973 $137,938
JOHN OHAB SENIOR DIRECTOR STRATEGIST 35.00
Key Emp
$188,817 $28,323 $217,140
KARLA RODEBUSH SENIOR MAJOR GIFTS OFFICER 35.00
Key Emp
$154,900 $23,235 $178,135
DEREK HASELTINE FELLOWSHIP DIRECTOR 35.00
Highest
$144,942 $21,741 $166,683
ANNE KORNAHRENS DIRECTOR OF COMMUNITY 35.00
Highest
$104,930 $15,740 $120,670
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 $12,220,559 $7,500,495 $48,593,851 $4,720,064
2024 $8,364,011 $6,947,930 $41,147,276 $1,416,081
2023 $6,676,798 $5,632,037 $35,725,069 $1,044,761
2022 $16,499,886 $4,268,923 $31,929,987 $12,230,963
2021 $5,373,923 $4,480,000 $29,213,810 $893,923
2020 $4,632,095 $4,823,075 $24,883,206 $-190,980
2019 $6,110,538 $4,279,526 $24,466,943 $1,831,012
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