Nelco Foundation Inc
- Assets
- $8.5m
- Revenue
- $1.4m
- Investments
- $8.6m
- Employees
- 0
- Location
- New York, NY
- Founding
- 05/1957
- Data as of
- 05/2024
- EIN
- 13-6089850
Organization Overview
Nelco Foundation Inc is located in New York, NY. The organization was established in 1957. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nelco Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 05/2024, Nelco Foundation Inc generated $1.4m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 20.5% each year . All expenses for the organization totaled $595.0k during the year ending 05/2024. While expenses have increased by 4.3% per year over the past 4 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Nelco Foundation Inc has awarded 267 individual grants totaling $1,625,482. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Blumenthal Vice President | 5 | $0 | |
Barbara Blumenthal President & Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $887,399 |
| Interest on Savings | $125,723 |
| Dividends & Interest | $313,700 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $77,573 |
| Capital Gain Net Income | $77,573 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $42,562 |
| Total Revenue | $1,446,957 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $8,482 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $56,816 |
| Total operating and administrative expenses | $111,798 |
| Contributions, gifts, grants paid | $483,222 |
| Total expenses and disbursements | $595,020 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | -$106,504 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $2,485,117 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $8,473,142 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $300 |
| Total liabilities | $300 |
Grants Awarded
Over the last fiscal year, Nelco Foundation Inc has awarded $483,222 in support to 81 organizations.
| Grant Recipient | Amount |
|---|---|
ALGEMEINER INC PURPOSE: TO FUND JEWISH CHARITABLE ORGANIZATIONS AND OTHER NOT FOR PROFIT ORGANIZATIONS | $1,500 |
AMERICAN COMMITTEE FOR THE WEIZMAN INSTITUTE PURPOSE: TO FUND JEWISH CHARITABLE ORGANIZATIONS AND OTHER NOT FOR PROFIT ORGANIZATIONS | $1,800 |
AMERICAN FOUNDATION FOR SUICIDE PREVENTION PURPOSE: TO FUND JEWISH CHARITABLE ORGANIZATIONS AND OTHER NOT FOR PROFIT ORGANIZATIONS | $1,000 |
AMERICAN FREINDS OF MAGEN DAVID ADOM PURPOSE: TO FUND JEWISH CHARITABLE ORGANIZATIONS AND OTHER NOT FOR PROFIT ORGANIZATIONS | $6,000 |
AMERICAN FRIENDS OF SHENKAR PURPOSE: TO FUND JEWISH CHARITABLE ORGANIZATIONS AND OTHER NOT FOR PROFIT ORGANIZATIONS | $35,000 |
ADL PURPOSE: TO FUND JEWISH CHARITABLE ORGANIZATIONS AND OTHER NOT FOR PROFIT ORGANIZATIONS | $1,000 |