Nonprofit · EIN 47-0824753
NOVO FOUNDATION
Tax-exempt · HURLEY, NY 12443
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990-PF | $473,629,747 | $237,536,467 | $236,093,280 | $937,820,671 | $140,052,533 | $797,768,138 |
| December 31, 2023 | 990-PF | $373,899,065 | $174,051,842 | $199,847,223 | $719,322,289 | $159,129,629 | $560,192,660 |
| December 31, 2022 | 990-PF (amended) | $332,640,783 | $273,150,876 | $59,489,907 | $545,384,793 | $193,369,199 | $352,015,594 |
Financial details: 990-PF for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $426,004,630
- Dividends
- $2,804,704
- Interest
- $27,928,937
- Net rental income
- $49,462
- Net gain from sales of assets
- $17,621,439
- Other income
- $40,088
Expenses
- Grants and similar amounts paid
- $190,318,925
- Compensation of officers, directors and key employees
- $1,783,908
- Salaries, compensation and benefits (total)
- $10,457,226
- Disbursements for charitable purposes
- $252,480,574
- Excise tax on investment income
- $6,574,133
Balance sheet and other
- Total assets, start of year
- $719,322,289
- Total assets, end of year
- $937,820,671
- Total liabilities, end of year
- $140,052,533
- Net assets, end of year
- $797,768,138
- Fair market value of assets
- $937,820,671
- Qualifying distributions
- $252,480,574
- Net investment income
- $473,741,717
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990-PF for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| MATTHEW TYE C/O THE NOVO FOUNDATION PO BOX 566, HURLEY, NY 12443 | MANAGING DIRECTOR, NIK, MILL, CROP SHO | 40 | $375,000 | $158,119 |
| SANGEETA BUDHIRAJA C/O THE NOVO FOUNDATION PO BOX 566, HURLEY, NY 12443 | VICE PRESIDENT Highest-paid employee | 40 | $375,000 | $220,126 |
| GARY SCHWARTZ C/O THE NOVO FOUNDATION PO BOX 566, HURLEY, NY 12443 | VICE PRESIDENT Highest-paid employee | 40 | $375,000 | $199,320 |
| KIMBERLY MCLAIN C/O THE NOVO FOUNDATION PO BOX 566, HURLEY, NY 12443 | CHIEF FINANCIAL OFFICER | 40 | $347,551 | $236,277 |
| KERRI KLEVEN C/O THE NOVO FOUNDATION PO BOX 566, HURLEY, NY 12443 | SENIOR DIRECTOR, GRA Highest-paid employee | 40 | $280,000 | $141,461 |
| BROOKE PICKERING-COLE C/O THE NOVO FOUNDATION PO BOX 566, HURLEY, NY 12443 | EXECUTIVE DIRECTOR, HVFH (UNTIL 3/31/2 | 40 | $277,252 | $85,188 |
| KENNETH LAU C/O THE NOVO FOUNDATION PO BOX 566, HURLEY, NY 12443 | SENIOR DIRECTOR, FIN Highest-paid employee | 40 | $252,205 | $101,386 |
| VICTORIA SWEET C/O THE NOVO FOUNDATION PO BOX 566, HURLEY, NY 12443 | DIRECTOR, PROGRAMS Highest-paid employee | 40 | $231,701 | $114,744 |
| JULIANNE SCHRADER ORTEGA AS OF 412 C/O THE NOVO FOUNDATION PO BOX 566, HURLEY, NY 12443 | MANAGING DIRECTOR, HVFH (AS OF 4/1/24) | 40 | $220,875 | $32,005 |
| JENNIFER BUFFETT C/O THE NOVO FOUNDATION PO BOX 566, HURLEY, NY 12443 | CO-PRESIDENT | 20 | $1 | $24,745 |
| PETER BUFFETT C/O THE NOVO FOUNDATION PO BOX 566, HURLEY, NY 12443 | CO-PRESIDENT | 40 | $1 | $26,894 |
| AARON STERN C/O THE NOVO FOUNDATION PO BOX 566, HURLEY, NY 12443 | SECRETARY | 2 | $0 | $0 |
990-PF for the year ended December 31, 2023: 10 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| GARY SCHWARTZ C/O THE NOVO FOUNDATION PO BOX 566, HURLEY, NY 12443 | VICE PRESIDENT Highest-paid employee | 40 | $381,315 | $141,547 |
| SANGEETA BUDHIRAJA C/O THE NOVO FOUNDATION PO BOX 566, HURLEY, NY 12443 | VICE PRESIDENT Highest-paid employee | 40 | $354,793 | $203,261 |
| MATTHEW TYE C/O THE NOVO FOUNDATION PO BOX 566, HURLEY, NY 12443 | VICE PRESIDENT Highest-paid employee | 40 | $354,793 | $162,395 |
| KIMBERLY MCLAIN C/O THE NOVO FOUNDATION PO BOX 566, HURLEY, NY 12443 | CHIEF FINANCIAL OFFICER | 40 | $354,184 | $212,352 |
| BROOKE PICKERING-COLE C/O THE NOVO FOUNDATION PO BOX 566, HURLEY, NY 12443 | EXEC DIR, FARM HUB | 40 | $265,225 | $113,013 |
| MONA WILLIAMS C/O THE NOVO FOUNDATION PO BOX 566, HURLEY, NY 12443 | DIR OF FINANCE & ACC Highest-paid employee | 40 | $232,789 | $93,370 |
| VICTORIA SWEET C/O THE NOVO FOUNDATION PO BOX 566, HURLEY, NY 12443 | PROGRAM OFFICER Highest-paid employee | 40 | $232,789 | $91,065 |
| JENNIFER BUFFETT C/O THE NOVO FOUNDATION PO BOX 566, HURLEY, NY 12443 | CO-PRESIDENT | 30 | $1 | $27,859 |
| PETER BUFFETT C/O THE NOVO FOUNDATION PO BOX 566, HURLEY, NY 12443 | CO-PRESIDENT | 40 | $1 | $34,634 |
| AARON STERN C/O THE NOVO FOUNDATION PO BOX 566, HURLEY, NY 12443 | SECRETARY | 2 | $0 | $0 |
990-PF for the year ended December 31, 2022: 10 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| GARY SCHWARTZ C/O THE NOVO FOUNDATION PO BOX 3971, KINGSTON, NY 12402 | SENIOR DIRECTOR Highest-paid employee | 40 | $371,315 | $128,761 |
| KIMBERLY MCLAIN C/O THE NOVO FOUNDATION PO BOX 3971, KINGSTON, NY 12402 | CHIEF FINANCIAL OFFICER | 40 | $354,184 | $184,882 |
| SANGEETA BUDHIRAJA C/O THE NOVO FOUNDATION PO BOX 3971, KINGSTON, NY 12402 | DIRECTOR OF PROGRAMS Highest-paid employee | 40 | $344,793 | $167,217 |
| MATTHEW TYE C/O THE NOVO FOUNDATION PO BOX 3971, KINGSTON, NY 12402 | DIR OF ORG DEV & LEA Highest-paid employee | 40 | $344,793 | $166,027 |
| BROOKE PICKERING-COLE C/O THE NOVO FOUNDATION PO BOX 3971, KINGSTON, NY 12402 | EXEC DIR, FARM HUB | 40 | $262,106 | $111,918 |
| VICTORIA SWEET C/O THE NOVO FOUNDATION PO BOX 3971, KINGSTON, NY 12402 | PROGRAM OFFICER Highest-paid employee | 40 | $222,789 | $84,315 |
| MONA WILLIAMS C/O THE NOVO FOUNDATION PO BOX 3971, KINGSTON, NY 12402 | DIR OF FINANCE & ACC Highest-paid employee | 40 | $222,789 | $80,438 |
| JENNIFER BUFFETT C/O THE NOVO FOUNDATION PO BOX 3971, KINGSTON, NY 12402 | CO-PRESIDENT | 30 | $1 | $34,196 |
| PETER BUFFETT C/O THE NOVO FOUNDATION PO BOX 3971, KINGSTON, NY 12402 | CO-PRESIDENT | 40 | $1 | $33,131 |
| AARON STERN C/O THE NOVO FOUNDATION PO BOX 3971, KINGSTON, NY 12402 | SECRETARY | 2 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 207 N TREMONT ST, HURLEY, NY 12443-0000
- In care of
- % K MCLAIN CO NOVO FOUNDATION
- Signed the 990-PF
- KIMBERLY MCLAIN, CFO
- Phone
- (212) 808-5400
- Website
- WWW.NOVOFOUNDATION.ORG
- Return prepared by
- BAKER TILLY ADVISORY GROUP LP
What it must file and when
IRS records say it files Form 990-PF. Private foundations file every year. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990-PF on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990-PF on file |
IRS record
- EIN
- 47-0824753
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Private non-operating foundation
- Donations deductible (Pub 78)
- Private foundation, 30% limit
- Exempt since
- 2021
- Accounting year ends
- December
- Files
- Form 990-PF
- Category (NTEE)
- Philanthropy, voluntarism and grantmaking foundations (T99)
- Assets (IRS master file)
- $937,820,671
- Income (IRS master file)
- $900,762,798
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-PF | December 2024 | $473,629,747 | $237,536,467 | $937,820,671 | XML |
| 990-T | December 2024 | – | – | – | IRS |
| 990-PF | December 2023 | $373,899,065 | $174,051,842 | $719,322,289 | XML |
| 990-T | December 2023 | – | – | – | IRS |
| 990-PF | December 2022 | $332,640,783 | $273,150,876 | $545,384,793 | XML |
| 990-T | December 2022 | – | – | – | IRS |
| 990-PF | December 2021 | – | – | – | IRS |
| 990-T | December 2021 | – | – | – | IRS |
| 990-PF | December 2020 | – | – | – | IRS |
| 990-T | December 2020 | – | – | – | IRS |
| 990-PF | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 47-0824753).
Questions about NOVO FOUNDATION
- What is the EIN of NOVO FOUNDATION?
- The employer identification number (EIN) of NOVO FOUNDATION is 47-0824753.
- Is NOVO FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2021.
- Are donations to NOVO FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Private foundation, 30% limit).
- Which annual return does NOVO FOUNDATION file?
- Form 990-PF. Private foundations file every year.
- When is the next return of NOVO FOUNDATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did NOVO FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990-PF for the year ended December 2024.
- Who are the officers and directors of NOVO FOUNDATION?
- The 990-PF for the year ended December 31, 2024 lists 12 people; 11 received compensation from the organization, the highest $375,000 (MATTHEW TYE, MANAGING DIRECTOR, NIK, MILL, CROP SHO).
- How much revenue does NOVO FOUNDATION have?
- On its 990-PF for the year ended December 31, 2024 it reported revenue of $473,629,747, expenses of $237,536,467 and total assets of $937,820,671 at year end.
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