Armadas Foundation
- Assets
- $60.7m
- Revenue
- $4.6m
- Investments
- $60.7m
- Employees
- 0
- Location
- Flushing, NY
- Founding
- 11/2002
- Data as of
- 09/2023
- EIN
- 16-1622664
Organization Overview
Armadas Foundation is located in Flushing, NY. The organization was established in 2002. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Armadas Foundation 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 09/2023, Armadas Foundation generated $4.6m in total revenue. All expenses for the organization totaled $2.9m during the year ending 09/2023. While expenses have increased by 105.8% per year over the past 7 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS PAID AND OPERATING COSTS, IF ANY. NO OTHER CHARITABLE ACTIVITES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Kirschner President/director | 0.5 | $0 | |
Rachelle Kirschner Treasurer/director | 0.5 | $0 | |
Stanley Fleishman Secretary/director | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $2,001,500 |
| Interest on Savings | $43,982 |
| Dividends & Interest | $648,505 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,949,883 |
| Capital Gain Net Income | $1,949,883 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $4,643,870 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $43,000 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $114,543 |
| Total operating and administrative expenses | $157,543 |
| Contributions, gifts, grants paid | $2,700,000 |
| Total expenses and disbursements | $2,857,543 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| 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 | $60,749,619 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $60,749,619 |
| 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 | $3,904 |
| Total liabilities | $3,904 |
Grants Awarded
Over the last fiscal year, Armadas Foundation has awarded $15,012 in support to 139 organizations.
| Grant Recipient | Amount |
|---|---|
1000 HELPING HANDS PURPOSE: INDIGENT FAMILIES | $50 |
AF BEER CHAIM YITZCOK PURPOSE: OTHER | $200 |
ACHIEZER CONG PURPOSE: TEMPLE/SYNAGOGUE | $180 |
ASHDOD MERKAZ CHINUCH PURPOSE: RELIGIOUS EDUCATION | $149 |
ASHDOD MERKAZ CHINUCH PURPOSE: RELIGIOUS EDUCATION | $149 |
BAIS MEDRASH TAHAROS PURPOSE: RELIGIOUS EDUCATION | $250 |