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Sumner M. Redstone Charitable Foundation

Profile

Last Updated: 2016-07-07

At A Glance

Sumner M. Redstone Charitable Foundation

846 University Ave.

Norwood, MA United States 02062-2631

Telephone: (781) 461-1600

URL: www.sumnermredstonefoundation.org

Type of Grantmaker

Independent foundation

Additional Descriptor

  • Celebrity: Business; Entertainment

Financial Data

(yr. ended 2014-12-31)

Assets: $2,771,052

Total giving: $31,576,167

EIN

222761621

BRIDGE Number

1655408437

Additional Contact Information

Application address: 200 Elm St., Dedham, MA 02026

Background

Established in 1986 in MA - Founded by Sumner M. Redstone, the Executive Chairman and majority owner of CBS Broadcasting Inc., Viacom Networks, and National Amusements, Inc., which in turn owns Music Television (MTV) Networks, Black Entertainment Television (BET), and Paramount Pictures. In 2007, Sumner M. Redstone announced a commitment of $105 million in charitable grants to fund research and patient care advancements in cancer and burn recovery at three major non-profit healthcare organizations. The cash contributions of $35 million each will be paid out over five years through the charitable foundation.

Purpose and Activities

Giving primarily for health organizations and medical research, particularly for research and patient care advancements in cancer and burn recovery.

Fields of Interest

Subjects
  • Diseases and conditions
  • Education
  • Higher education
  • Hospital care
  • Human services
  • University education
Population Groups
  • Academics
  • Children and youth
  • Economically disadvantaged people
  • Low-income and poor people

Financial Data

Year ended 2014-12-31

Assets: $2,771,052 (market value)

Gifts received: $28,062,214

Expenditures: $31,582,085

Total giving: $31,576,167

Qualifying distributions: $31,576,167

Giving activities include:

$31,576,167 for 13 grants (high: $6,000,000