Park Avenue Foundation Inc
- Assets
- $15.1m
- Revenue
- $468.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Florham Park, NJ
- Founding
- 12/1993
- Data as of
- 12/2021
- EIN
- 22-3141480
Organization Overview
Park Avenue Foundation Inc is located in Florham Park, NJ. The organization was established in 1993. According to its NTEE Classification (T70) the organization is classified as: Federated Giving Programs, 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. Park Avenue 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 12/2021, Park Avenue Foundation Inc generated $468.4k 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 (3.4%) each year. All expenses for the organization totaled $768.8k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Park Avenue Foundation Inc has awarded 28 individual grants totaling $748,100. 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO RAISE FUNDS EXCLUSIVELY FOR THE BENEFIT OF AND SUPPORT OF THE MEMBER NON-PROFITS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO RAISE FUNDS TO BE DISTRIBUTED TO VARIOUS CHARITABLE ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patricia Sly President | OfficerTrustee | 5 | $0 |
Joseph Pawelczyk Vice President & Treasurer | OfficerTrustee | 10 | $0 |
Nelson Schaenen Jr Secretary | OfficerTrustee | 1 | $0 |
Charles Rubin Trustee | Trustee | 1 | $0 |
Barbara Keller Trustee | Trustee | 1 | $0 |
Carlos Rodriguez Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $147,213 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,150 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $151,363 |
| Total Program Service Revenue | $0 |
| Investment income | $72,559 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $246,540 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$4,720 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $468,390 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $50,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $17,231 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $1,234 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $239,089 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $440,968 |
| Insurance | $1,546 |
| All other expenses | $0 |
| Total functional expenses | $768,767 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,220,806 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,148,396 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $9,701,526 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,036,004 |
| Total assets | $15,106,732 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $5,112,076 |
| Other liabilities | $0 |
| Total liabilities | $5,112,076 |
| Net assets without donor restrictions | $9,853,156 |
| Net assets with donor restrictions | $141,500 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $15,106,732 |
Grants Awarded
Over the last fiscal year, Park Avenue Foundation Inc has awarded $34,050 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Newark, NJ PURPOSE: GENERAL SUPPORT | $14,330 |
Cedar Knolls, NJ PURPOSE: GENERAL SUPPORT | $8,450 |
Hillside, NJ PURPOSE: GENERAL SUPPORT | $5,635 |
Cedar Knolls, NJ PURPOSE: GENERAL SUPPORT | $5,635 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Park Avenue Foundation Inc has recieved totaling $16,700.
| Awarding Organization | Amount |
|---|---|
The Mcj Amelior Foundation Morristown, NJ PURPOSE: FOR GENERAL OPERATING SUPPORT | $11,700 |
Cornpauw Foundation Ltd New York, NY PURPOSE: GENERAL | $5,000 |
Endowment Analysis
| Beg. Balance | $141,500 |
| Ending Balance | $141,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
American Gift Fund Wilmington, DE | $439,949,657 | $191,491,973 |
United Way Of New York City New York, NY | $40,512,646 | $61,047,819 |
Childrens Rescue Fund Bronx, NY | $24,029,170 | $53,044,030 |
Jewish Federation Of Greater Philadelphia Philadelphia, PA | $424,827,168 | $56,076,653 |
Masonic Charity Foundation Of New Jersey Burlington, NJ | $172,221,934 | $43,314,018 |
United Way Of Greater Rochester And The Finger Lakes Inc Rochester, NY | $189,540,443 | $45,112,374 |
The United Way Of Southwestern Pennsylvania Pittsburgh, PA | $71,821,513 | $41,142,392 |
Jewish Federation Of Greater Pittsburgh Pittsburgh, PA | $277,158,927 | $43,372,124 |
Foundation For Jewish Philanthropies Getzville, NY | $249,898,212 | $25,804,353 |
United Way Of Greater Philadelphia And Southern New Jersey Philadelphia, PA | $111,398,154 | $23,240,167 |
Colcom Foundation Pittsburgh, PA | $406,634,028 | $48,313,267 |
Jewish Federation Of Greater Metrowest Nj Whippany, NJ | $148,757,737 | $46,864,442 |