Hess Foundation is an independent non-profit private foundation based in Roseland, New Jersey. Established in 1954, by Leon Hess, the Founder of Hess Group, an integrated oil company based in New York City. The foundation provides grants primarily for higher education, arts, hospitals, synagogues, and human services. The assets of the foundation are managed by the executive management team.Hess Foundation's investment portfolio is valued at over $430.49 million, with investments in domestic and international equity, private equity, and cash.