Charles Edison Fund
- Assets
- $13.0m
- Revenue
- $1.8m
- Investments
- $11.1m
- Employees
- 0
- Location
- Newark, NJ
- Founding
- 06/1952
- Data as of
- 12/2022
- EIN
- 22-1514861
Organization Overview
Charles Edison Fund is located in Newark, NJ. The organization was established in 1952. 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. Charles Edison Fund 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 12/2022, Charles Edison Fund generated $1.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (9.6%) each year. All expenses for the organization totaled $2.5m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (0.7%) per year over the past 7 years. 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
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
TEACHING KITS PROGRAM - SINCE INCEPTION - 70,000 KITS DISTRIBUTED, 30 MILLION STUDENTS, 82 EXPERIMENTS, GRADES 2 THROUGH 9
ARTIFACTS AND MUSEUMS - 57 MUSEUMS, OVER 8,300 ARTIFACTS
FOR A MORE DETAILED DESCRIPTION FOR ALL THE DIRECT CHARITABLE ACTIVITIES SEE ATTACHED SUMMARY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
J Keegan Pres. Trea. Trt | 35 | $223,300 | |
L Lalicata Curator | 35 | $113,750 | |
Wade Knowles Trustee/comm | 2 | $14,050 | |
J Schullinger Trtee Co Chair | 13 | $52,624 | |
Jennifer Gonring Alpin Trustee/comm | 2 | $14,050 | |
Jack Howley Trustee | 2 | $14,050 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mccarter & English | 12/30/22 | $44,833 |
Christiansen Jube & Keegen | 12/30/22 | $79,250 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $3,773 |
| Dividends & Interest | $195,258 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $839,113 |
| Capital Gain Net Income | $839,113 |
| Net ST Capital Gain | $839,113 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $780,620 |
| Total Revenue | $1,818,764 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $564,234 |
| Other employee salaries and wages | $227,771 |
| Pension plans, employee benefits | $261,021 |
| Interest | $0 |
| Taxes | -$11,256 |
| Depreciation | $653 |
| Occupancy | $94,724 |
| Travel, conferences, and meetings | $60,790 |
| Printing and publications | $2,139 |
| Other expenses | $141,023 |
| Total operating and administrative expenses | $1,659,486 |
| Contributions, gifts, grants paid | $793,126 |
| Total expenses and disbursements | $2,452,612 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $26,450 |
| Savings and temporary cash investments | $1,150,264 |
| 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 | $54,294 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $421 |
| Other assets | $615,407 |
| Total assets | $12,991,462 |
| Accounts payable and accrued expenses | $102,026 |
| Grants payable | $114,515 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $371,974 |
| Total liabilities | $588,515 |