Report
AWMF audited financial statements 2023
Financials
Information about the Foundation’s endowment, social bond framework and financial reports
The Andrew W. Mellon Foundation was created in 1969 with $273 million in assets following the consolidation of the Avalon Foundation and the Old Dominion Foundation. The assets of the new organization were augmented with additional funds from the estate of Ailsa Mellon Bruce, and, by 1970, Mellon had assets of $700 million. By 1980, the last year Mellon received a payout from Ailsa Mellon Bruce’s estate, our assets had grown to $880 million.
Mellon’s endowment totaled approximately $7.9 billion at the end of 2023.
Social Bond Framework
The Mellon Foundation issued $300 million in social bonds in July 2020 under the Mellon Foundation Social Bond Framework. We intend to use the net proceeds of the social bond offering to fund grantmaking and to refinance previous borrowing used to pay grants in 2020.
In response to the COVID-19 global pandemic and its adverse effects on nonprofits, we have undertaken rapid and increased emergency grantmaking. We announced in June 2020 that it would issue an additional $200 million in grants in 2020—on top of the $300 million originally planned for the year—to help shore up arts, humanities, and educational nonprofits devastated by the ongoing public health crisis.
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