Panasonic Foundation Inc
- Assets
- $8.8m
- Revenue
- $2.1m
- Investments
- $8.7m
- Employees
- 0
- Location
- Newark, NJ
- Founding
- 04/1985
- Data as of
- 12/2023
- EIN
- 22-2548639
Organization Overview
Panasonic Foundation Inc is located in Newark, NJ. The organization was established in 1985. 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. Panasonic 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, Panasonic Foundation Inc generated $2.1m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 14.3% each year . All expenses for the organization totaled $1.7m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Panasonic Foundation Inc has awarded 49 individual grants totaling $3,794,218. 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.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jessica Hodkinson Director, Board Chair, Secretary | 1 | $0 | |
Kenji Shimonishi Treasurer | 1 | $0 | |
Gordon Kyvik Assistant Treasurer | 1 | $17,820 | |
Afiya M Jordan Assistant Secretary | 1 | $0 | |
Linda Woodruff Director, Board Chair- Term End 3/2023 | 1 | $0 | |
Scott R Kirchner Director | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Panasonic Corporation Of North America | 12/30/20 | $289,181 |
Deloitte | 12/30/20 | $137,887 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $536,760 |
| Interest on Savings | $0 |
| Dividends & Interest | $1,414,135 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $161,701 |
| Capital Gain Net Income | $161,701 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $2,112,596 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $17,820 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $16,000 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $13,883 |
| Printing and publications | $0 |
| Other expenses | $24,228 |
| Total operating and administrative expenses | $534,464 |
| Contributions, gifts, grants paid | $1,124,350 |
| Total expenses and disbursements | $1,658,814 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,545 |
| Savings and temporary cash investments | $106,883 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $8,831,155 |
| 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 | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Panasonic Foundation Inc has awarded $1,124,350 in support to 17 organizations.
| Grant Recipient | Amount |
|---|---|
FIRST IN TEXAS PURPOSE: SUPPORT TEAMS - FIRST LEGO LEAGUE AND FIRST TECH CHALLENGE | $55,000 |
GIRLS INCORPORATED PURPOSE: GIRL INC OF GREATER ATLANTA PROGRAMMING OF SUMMER UNIVERSITY FOR THE SUMMER OF 2024 EXPANDING STEM. | $50,000 |
TEACH FOR AMERICA PURPOSE: STEM EDUCATION FUNDING SUPPORT | $25,000 |
FIRST NEVADA PURPOSE: FIRST LEGO LEAGUE CHALLENGE, FIRST TECH CHALLENGE TEAM, PERSONNEL SUPPORT: TRAINING/WORKSHOPS | $55,000 |
THE NEWARK MUSEUM OF ART PURPOSE: SUPPORT THE EXPLORES PROGRAM AND PROVIDE ACCESS TO STEM EDUCATION | $50,000 |
FIRST ROBOTICS PURPOSE: IN SUPPORT OF THE NEWARK ROBOTICS PROGRAM FOR THE 2024-2025 ACADEMIC YEAR. | $55,000 |