Horizon Charitable Foundation Inc
- Assets
- $77.3m
- Revenue
- $11.2m
- Investments
- $65.9m
- Employees
- 0
- Location
- Newark, NJ
- Founding
- 04/2005
- Data as of
- 12/2023
- EIN
- 20-0252405
Organization Overview
Horizon Charitable Foundation Inc is located in Newark, NJ. The organization was established in 2005. 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. Horizon Charitable 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 12/2023, Horizon Charitable Foundation Inc generated $11.2m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 21.6% each year . All expenses for the organization totaled $3.7m during the year ending 12/2023. 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
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Chair/president | 0.5 | $0 | |
Name Not Listed Director | 0.5 | $20,000 | |
Name Not Listed Director | 0.5 | $20,000 | |
Name Not Listed Director | 0.5 | $0 | |
Name Not Listed Director | 0.5 | $20,000 | |
Name Not Listed Director | 0.5 | $20,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $10,000,000 |
| Interest on Savings | $582,334 |
| Dividends & Interest | $1,292,486 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$664,647 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $11,210,173 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $100,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $150,672 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $10,346 |
| Printing and publications | $0 |
| Other expenses | $206,528 |
| Total operating and administrative expenses | $1,303,144 |
| Contributions, gifts, grants paid | $2,371,998 |
| Total expenses and disbursements | $3,675,142 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,199,458 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $10,000,000 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $156,124 |
| Total assets | $77,272,715 |
| Accounts payable and accrued expenses | $59,000 |
| Grants payable | $1,838,000 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $922,167 |
| Total liabilities | $2,819,167 |