Program areas at Ares Charitable Foundation
Altfinance: investing in black futures. The initiave 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 intiative has three primary components: a mentored fellowship program, a tailored virtual institute, and a scholarship program. During 2023, a total of 117 college students fellows participated for the us-based program.
Wri: the initiative is designed to 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. This is a five-year initiative on track to provide education and training to 1,000 individuals in india by its conclusion.
Jobs for the future: the initiatve 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. During the year, the organization served 15 individuals.
Other grants
Grants made by Ares Charitable Foundation
| Grantee | Grant description | Grant year | Amount |
|---|
| Alt Finance Corporation | Support Programs for Students and Graduates of Historically Black Colleges and Universities | 2023-12 | $4,500,000 |
| Jobs for the Future (JFF) | 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. | 2023-12 | $4,296,585 |
| World Resources Institute (WRI) | 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. | 2023-12 | $1,033,783 |
| ...and 7 more grants made |
Who funds Ares Charitable Foundation
Grants from foundations and other nonprofits
Personnel at Ares Charitable Foundation
| Name | Title | Compensation | Date of data |
|---|
| Michael Weiner | Secretary | $0 | 2023-11-15 |
| Gregory Margolies | Treasurer and Director / Vice President | $0 | 2022-12-31 |
| Michael Arougheti | President and Director | $0 | 2022-12-31 |
Financials for Ares Charitable Foundation
| Revenues | FYE 12/2023 | FYE 12/2022 | % Change |
|---|
| Total grants, contributions, etc. | $10,696,130 | $4,896,009 | 118.5% |
| Program services | $0 | $0 | - |
| Investment income and dividends | $584 | $221 | 164.3% |
| Tax-exempt bond proceeds | $0 | $0 | - |
| Royalty revenue | $0 | $0 | - |
| Net rental income | $0 | $0 | - |
| Net gain from sale of non-inventory assets | $6,879 | $-574 | 1298.4% |
| Net income from fundraising events | $0 | $0 | - |
| Net income from gaming activities | $0 | $0 | - |
| Net income from sales of inventory | $0 | $0 | - |
| Miscellaneous revenues | $0 | $0 | - |
| Total revenues | $10,703,593 | $4,895,656 | 118.6% |
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|---|
| MBA Opens Doors Foundation | 501(c)(3) | Washington, DC | $4,026,920 |
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| NRA Foundation | 501(c)(3) | Fairfax, VA | $34,224,215 |
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Data update history
January 9, 2024
Posted financials
Added Form 990 for fiscal year 2022
June 10, 2023
Posted financials
Added Form 990 for fiscal year 2021
Nonprofit Types
Grantmaking organizationsCorporate foundationsCharities
Issues
No issues found
Characteristics
Provides grantsNational levelTax deductible donationsNo full-time employeesAccepts online donations
General information
- Address
- 1800 Ave of the Stars Suite 140
- Los Angeles, CA 90067
- Metro area
- Los Angeles-Long Beach-Anaheim, CA
- County
- Los Angeles County, CA
- Website URL
- aresfoundation.org/Â
- Phone
- (424) 285-2736
IRS details
- EIN
- 84-3666714
- Fiscal year end
- December
- Taxreturn type
- Form 990
- Year formed
- 2019
- Eligible to receive tax-deductible contributions (Pub 78)
- Yes
Categorization
- NTEE code, primary
- T12: Philanthropy, Voluntarism and Grantmaking Foundations Fund Raising and Fund Distribution
- NAICS code, primary
- 813211: Grantmaking Foundations
- Parent/child status
- Independent
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