Tina And Richard V Carolan Foundation Inc
- Assets
- $18.6m
- Revenue
- $11.5m
- Investments
- $15.8m
- Employees
- 0
- Location
- Mendham, NJ
- Founding
- 03/1992
- Data as of
- 11/2023
- EIN
- 22-3085237
Organization Overview
Tina And Richard V Carolan Foundation Inc is located in Mendham, NJ. The organization was established in 1992. 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. Tina And Richard V Carolan 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 11/2023, Tina And Richard V Carolan Foundation Inc generated $11.5m in total revenue. All expenses for the organization totaled $1.2m during the year ending 11/2023. While expenses have increased by 8.0% per year over the past 4 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.
Since 2020, Tina And Richard V Carolan Foundation Inc has awarded 72 individual grants totaling $3,613,800. 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 |
|---|---|---|---|
Tina Carolan President | 0.25 | $0 | |
Richard C Carolan Vice-President And Treasurer | 0.5 | $50,000 | |
Kimberly Carolan-Faga Vice President And Secretary | 0.25 | $0 | |
Alana Carolan Director Of Donor Relations | 0.5 | $15,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,000,000 |
| Interest on Savings | $45,685 |
| Dividends & Interest | $354,341 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $10,126,519 |
| Capital Gain Net Income | $10,126,519 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $11,526,545 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $65,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $173,687 |
| Contributions, gifts, grants paid | $1,023,500 |
| Total expenses and disbursements | $1,197,187 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,272,244 |
| Savings and temporary cash investments | $1,540,942 |
| 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 | $18,582,549 |
| 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, Tina And Richard V Carolan Foundation Inc has awarded $1,023,500 in support to 17 organizations.
| Grant Recipient | Amount |
|---|---|
ARMENIAN APOSTOLIC CHURCH OF AMERICA EASTERN PRELACY PURPOSE: HUMANITARIAN RELIEF EFFORTS | $100,000 |
ARMENIAN APOSTOLIC CHURCH OF AMERICA EASTERN PRELACY PURPOSE: EARTHQUAKE RELIEF EFFORT | $100,000 |
BEST BUDDIES PURPOSE: SUPPORT BEST BUDDIES LIVING | $100,000 |
BIG BROTHERS BIG SISTERS OF BROWARD PURPOSE: YOUTH OUTREACH THROUGH SUITES AT THE MIAMI MARLINS GAMES | $20,000 |
FOUNDATION CYCLING FOUNDATION INC PURPOSE: CONTRIBUTE TO THE AMERICAN CYCLING ELITE TEAM | $10,000 |
FOUNDATION CYCLING NEW YORK INC PURPOSE: SUPPORT FOUNDATION'S NEW RIDER DEVELOPMENT PROGRAM | $10,000 |