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← ARES CHARITABLE FOUNDATION

Form 990 for tax year 2024

Filed by ARES CHARITABLE FOUNDATION.

Totals

Total revenue
$13,896,261
Total expenses
$13,286,086
Contributions and grants received
$13,896,517
Grants paid
$11,230,511
Program service revenue
$0
Investment income
-$256
Other revenue
$0
Total assets, end of year
$1,420,029
Total liabilities, end of year
$2,980,485
Net assets or fund balances, end of year
-$1,560,456
Program services expenses (Part IX)
$12,386,051
Management and general expenses
$900,035
Fundraising expenses
$0
Program service expenses (Part III)
$12,386,051

Program services were 93.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $13,896,517

  • 1g · Noncash contributions included above

    $125,787

  • 3 · Investment income

    total $130 · excluded $130

  • 7a · Gross sales of assets other than inventory

    securities $125,438

  • 7b · Less cost or other basis and sales expenses

    securities $125,787 · other assets $37

  • 7c · Gain or loss

    securities -$349 · other assets -$37

  • 7d · Net gain or loss

    total -$386 · excluded -$386

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $10,334,408 · program services $10,334,408

  • 3 · Grants to foreign organizations and individuals

    total $896,103 · program services $896,103

  • 11b · Fees: legal

    total $2,531 · management and general $2,531

  • 11c · Fees: accounting

    total $29,529 · management and general $29,529

  • 11g · Fees: other

    total $1,155,540 · program services $1,155,540

  • 12 · Advertising and promotion

    total $409,470 · management and general $409,470

  • 13 · Office expenses

    total $25 · management and general $25

  • 14 · Information technology

    total $28,845 · management and general $28,845

  • 17 · Travel

    total $291,645 · management and general $291,645

  • 19 · Conferences, conventions and meetings

    total $57,590 · management and general $57,590

  • 24a · Other expenses: INST. MEMBERSHIPS

    total $80,000 · management and general $80,000

  • 24b · Other expenses: LICENSES & REGISTRATION

    total $400 · management and general $400

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,209,746 · end of year $1,294,839

  • 2 · Savings and temporary cash investments

    beginning of year $38,000 · end of year $77,500

  • 3 · Pledges and grants receivable

    beginning of year $51,814 · end of year $39,725

  • 4 · Accounts receivable

    end of year $7,965

  • 9 · Prepaid expenses and deferred charges

    beginning of year $16,667

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,242,132 · end of year $330,623

  • 18 · Grants payable

    beginning of year $4,069,941 · end of year $2,649,862

  • 25 · Other liabilities

    beginning of year $174,785 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year -$2,170,631 · end of year -$1,560,456

Mission and programs · 2024

Mission

THE GENERAL PURPOSES FOR WHICH THE CORPORATION IS FORMED ARE: (A) TO ENGAGE IN CHARITABLE ACTIVITIES CONSISTENT WITH THE PHILANTHROPIC OBJECTIVES OF ARES MANAGEMENT AND ITS FOUNDERS AND EMPLOYEES, WITH A FOCUS ON EDUCATION, HEALTH CARE, ENVIRONMENTAL AND SOCIAL CONCERNS; (B) TO SOLICIT, RECEIVE, AND ACCEPT DONATIONS, GIFTS, BEQUESTS, GRANTS, INCOME AND OTHER THINGS OF VALUE; (C) TO ENGAGE IN GRANT-MAKING TO UNRELATED ORGANIZATIONS AND INSTITUTIONS FOR CHARITABLE PURPOSES WITH A FOCUS ON EDUCATION, HEALTH CARE, ENVIRONMENTAL AND SOCIAL CONCERNS; AND (D) TO ENGAGE, WHETHER ALONE OR IN CONJUNCTION WITH OTHERS, DIRECTLY OR INDIRECTLY, IN ANY OTHER LAWFUL ACT OR ACTIVITY FOR WHICH CORPORATIONS MAY BE ORGANIZED UNDER THE DGCL, AND BY VIRTUE OF SUCH STATEMENT ALL LAWFUL ACTS AND ACTIVITIES SHALL BE WITHIN THE PURPOSES OF THE CORPORATION, EXCEPT FOR EXPRESS LIMITATIONS, IF ANY.

Activities or mission (Part I)

ARES FOUNDATION'S MISSION IS TO HELP ACCELERATE ECONOMIC EQUITY AND EQUALITY BY SUPPORTING NONPROFITS AND INITIATIVES THAT PROVIDE CAREER PREPARATION AND RESKILLING, ENCOURAGE ENTREPRENEURSHIP AND DEEPEN INDIVIDUALS' UNDERSTANDING OF PERSONAL FINANCE.

  • WE ENVISION A WORLD IN WHICH EQUITABLE ACCESS TO KNOWLEDGE, RESOURCES, AND OPPORTUNITIES ENABLES PEOPLE TO ACHIEVE THEIR FULL POTENTIAL. THE ARES CHARITABLE FOUNDATION STRIVES TO ACCELERATE EQUALITY OF ECONOMIC OPPORTUNITY THROUGH GRANTS THAT PROVIDE CAREER PREPARATION AND RESKILLING, ENCOURAGE ENTREPRENEURSHIP, AND SUPPORT CLIMATE-RESILIENT JOBS. OUR STRATEGIC GRANTMAKING HELPS ADDRESS CRITICAL SOCIETAL ISSUES TO MAKE A MEASURABLE, MEANINGFUL, AND SUSTAINED DIFFERENCE. OUR PARTNERSHIPS WITH SOME OF THE WORLD'S LEADING NONPROFITS STRIVE TO HELP CLOSE THE WIDENING WEALTH GAP A DISPARITY THAT OFTEN THREATENS BASIC HUMAN DIGNITY AND SURVIVAL. OUR 2024 GRANT-MAKING PROGRAMS INCLUDED THE FOLLOWING GRANTS AND INITIATIVES: ALT FINANCE CORPORATION. INVESTING IN BLACK FUTURES. THIS INITIATIVE IS DESIGNED TO DIVERSIFY THE ALTERNATIVE INVESTMENT INDUSTRY BY ATTRACTING, TRAINING, AND PROVIDING CAREER OPPORTUNITIES FOR COLLEGE STUDENTS ATTENDING HISTORICALLY BLACK COLLEGES AND UNIVERSITIES. THE INITIATIVE HAS THREE PRIMARY COMPONENTS: (1) A MENTORED FOLLOWSHIP PROGRAM; (2) A TAILORED VIRTUAL INSTITUTE, AND (3) A SCHOLARSHIP PROGRAM. DURING 2024, A TOTAL OF 133 COLLEGE STUDENTS PARTICIPATED IN THIS U.S. BASED PROGRAM

    Expenses $3,308,679 · Grants $3,000,000

  • .JOBS FOR THE FUTURE (JFF). THIS INITIATIVE IS DESIGNED TO HELP INDIVIDUALS PREPARE FOR CLIMATE-RESILIENT JOBS IN THE UNITED STATES AS WELL AS IDENTIFY LEADING TRAINING PROVIDERS, ORGANIZATIONS, AND BEST PRACTICES TO DESIGN PATHWAYS TO THOSE CAREER OPPORTUNITIES. THIS INITIATIVE IS ON TRACK TO FACILITATE EDUCATION AND TRAINING FOR 25,000 INDIVIDUALS.

    Expenses $4,832,014 · Grants $4,381,218

  • WORLD RESOURCES INSTITUTE (WRI): THIS INITIATIVE IS DESIGNED TO HELP BUILD THE RESILIENCE OF INDIA'S MICRO, SMALL, AND MEDIUM ENTERPRISES IN TWO STATES TO FUTURE-PROOF THEIR BUSINESS MODELS WITHIN A CHANGING CLIMATE. THIS IS A FIVE-YEAR INITIATIVE ON TRACK TO PROVIDE EDUCATION AND TRAINING TO 1,000 INDIVIDUALS IN INDIA.

    Expenses $1,323,573 · Grants $1,200,092

  • OTHER GRANTS

    Expenses $2,921,785 · Grants $2,649,202

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Michael Arougheti

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Gregory Margolies

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Michael D Weiner

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Caroline Blakely

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Michelle Armstrong

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

  • JOBS FOR THE FUTURE

    $4,381,217

    HELP INDIVIDUALS PREPARE FOR CLIMATE-RESILIENT JOBS IN THE U.S. AS WELL AS IDENTIFY LEADING TRAINING PROVIDERS, ORGANIZATIONS AND BEST PRACTICES TO DESIGN PATHWAYS TO THOSE CAREER OPPORTUNITIES.

  • ALT FINANCE CORPORATION

    $3,000,000

    SUPPORT PROGRAMS FOR STUDENTS AND GRADUATES OF HISTORICALLY BLACK COLLEGES AND UNIVERSITIES.

  • WORLD RESOURCES INSTITUTE

    $1,200,091

    HELP BUILD THE RESILIENCE OF INDIA'S MICRO, SMALL AND MEDIUM ENTERPRISES ("MSMES") IN TWO STATES TO FUTURE-PROOF THEIR BUSINESS MODELS WITHIN A CHANGING CLIMATE.

  • CHARLES EDWARD FOUNDATION DBA WORKINGNATION

    $500,000

    HELP DESIGN AND FACILITATE A TOWN HALL IN ATLANTA, GEORGIA, WITH THOUGHT LEADERS, EXPERTS AND OPINION MAKERS TO DISCUSS HOW BEST TO ENSURE MORE EQUITABLE WORKFORCE OPPORTUNITIES FOR PEOPLE WITH DISABILITIES.

  • URBAN INSTITUTE

    $249,985

    THE GRANTEE WILL UNDERTAKE RESEARCH THAT INFORMS THE CREATION OF A DYNAMIC, NO-COST TOOLKIT FOR U.S. EMPLOYERS THAT INCLUDES OPTIONS, PATHWAYS AND STRATEGIES TO SUPPORT THEIR IMPLEMENTATION OF EQUITABLE WORKPLACE WEALTH-BUILDING STRATEGIES THAT CUT ACROSS DIMENSIONS SUCH AS RACE, PLACE AND GENDER FOR LOW- AND MODERATE-WAGE EMPLOYEES.

  • COUNCIL FOR ECONOMIC EDUCATION

    $248,782

    THE GRANTEE WILL UNDERTAKE A PILOT PROJECT IN SELECT STATES IN THE NORTHEASTERN U.S. TO BETTER ENSURE ITS PROVISION OF ROBUST PERSONAL FINANCE AND ECONOMIC EDUCATION PROGRAMS IN LOW-TO-MODERATE INCOME COMMUNITIES THROUGH A REVAMPED DELIVERY MODEL. IN ADDITION, THE PILOT IS INTENDED TO BRING THE GRANTEE'S YOUTH FINANCIAL EDUCATION PROGRAMS, TEACHER PROFESSIONAL DEVELOPMENT ACTIVITIES AND ADVOCACY EFFORTS TO SCALE IN THE REGION.

  • ADARA DEVELOPMENT (USA)

    $225,000

    THE GRANTEE WILL EXPAND ACCESS TO QUALITY EDUCATION FOR LESS ADVANTAGED NEPALESE YOUTH IN REMOTE COMMUNITIES TO PREPARE THEM FOR POST-SECONDARY CAREERS AS WELL AS TO CREATE KNOWLEDGE PRODUCTS AND RESOURCES THAT HELP SCALE PROGRAMMING TO REACH GLOBAL AUDIENCES.

  • OWNERSHIP WORKS

    $200,000

    EDUCATE INDIVIDUALS, EMPLOYEES AND COMPANIES ABOUT THE ECONOMIC AND OTHER BENEFITS OF ROAD-BASED EMPLOYEE OWNERSHIP OF BUSINESSES AND METHODS OF ADOPTING EMPLOYEE OWNERSHIP PROGRAMS BY RESEARCHING, DEVELOPING AND CONDUCTING EDUCATIONAL ACTIVITIES.

  • THE BROOKINGS INSTITUTION

    $133,333

    THE GRANTEE WILL UNDERTAKE RESEARCH AND DEVELOP A SERIES OF PUBLICATIONS AND DATA PRODUCTS ON LATINO-OWNED BUSINESSES AND ENTREPRENEURSHIP. THE INITIATIVE WILL BUILD ON THE GRANTEE'S VALUING BLACK ASSETS INITIATIVE A FOUNDATIONAL RESOURCE FOR THE STATE OF BLACKOWNED BUSINESSES TO EXAMINE THE STATE OF LATINO-OWNED BUSINESSES.

  • GROVE COLLECTIVE FOUNDATION

    $102,800

    THE GRANTEE WILL UNDERTAKE RESEARCH ON THE SUCCESS DRIVERS OF TOP REVENUE-GENERATING BLACK- AND HISPANIC-OWNED REAL ESTATE DEVELOPMENT FIRMS IN THE U.S. AS WELL AS CONDUCT A LANDSCAPING OF WOMEN REAL ESTATE DEVELOPERS TO COUNTER THEIR UNDERREPRESENTATION IN THE FIELD SO THAT THESE HISTORICALLY MARGINALIZED ENTREPRENEURS CAN BETTER SCALE THEIR BUSINESSES AND OVERCOME EQUITY GAPS.

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2024
Filed
5 November 2025
IRS schema version
2024v5.2
Source object
202513109349303226

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.