Nicholas Martini Foundation
- Assets
- $12.3m
- Revenue
- $144.7k
- Investments
- $8.9m
- Employees
- 0
- Location
- Newark, NJ
- Founding
- 08/1986
- Data as of
- 12/2022
- EIN
- 22-2756049
Organization Overview
Nicholas Martini Foundation is located in Newark, NJ. The organization was established in 1986. 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. Nicholas Martini 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 12/2022, Nicholas Martini Foundation generated $144.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (39.3%) each year. All expenses for the organization totaled $692.0k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Nicholas Martini Foundation has awarded 181 individual grants totaling $3,442,362. 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 |
|---|---|---|---|
William J Martini Trustee/president | 6 | $22,000 | |
Gail A Hansen Trustee | 0.5 | $10,000 | |
William J Martini Jr Trustee | 0.5 | $3,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $105,887 |
| Dividends & Interest | $71,889 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$47,168 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $14,073 |
| Total Revenue | $144,681 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $35,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $182 |
| Taxes | $23,148 |
| Depreciation | $28,624 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $13,180 |
| Printing and publications | $0 |
| Other expenses | $80,865 |
| Total operating and administrative expenses | $233,189 |
| Contributions, gifts, grants paid | $458,771 |
| Total expenses and disbursements | $691,960 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $738,039 |
| Savings and temporary cash investments | $696,228 |
| 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 | $5,691,418 |
| Net Land, buildings, and equipment | $692,844 |
| Other assets | $1,252,576 |
| Total assets | $12,290,000 |
| 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 | $1,364 |
| Total liabilities | $1,364 |
Grants Awarded
Over the last fiscal year, Nicholas Martini Foundation has awarded $458,771 in support to 67 organizations.
| Grant Recipient | Amount |
|---|---|
ACE PURPOSE: GENERAL SUPPORT | $3,000 |
ADVOCATES FOR CHILDREN OF NYC PURPOSE: GENERAL SUPPORT | $2,000 |
AHS PURPOSE: GENERAL SUPPORT | $250 |
ALLEY CAT RESCUE PURPOSE: GENERAL SUPPORT | $250 |
ALSAC PURPOSE: GENERAL SUPPORT | $2,000 |
ALZHEIMERS ASSOCIATION PURPOSE: GENERAL SUPPORT | $15,000 |