Oceanfirst Foundation
- Assets
- $11.3m
- Revenue
- $2.2m
- Investments
- $11.2m
- Employees
- 0
- Location
- Toms River, NJ
- Founding
- 04/1997
- Data as of
- 12/2021
- EIN
- 22-3465454
Organization Overview
Oceanfirst Foundation is located in Toms River, NJ. The organization was established in 1997. 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. Oceanfirst 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 12/2021, Oceanfirst Foundation generated $2.2m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 19.0% each year . All expenses for the organization totaled $2.3m during the year ending 12/2021. While expenses have increased by 16.1% 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, Oceanfirst Foundation has awarded 869 individual grants totaling $4,631,594. 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 |
|---|---|---|---|
Katherine B Durante Secretary / Exec. Dir. | 40 | $249,215 | |
Lisa Petrozzello Office Manager | 40 | $61,393 | |
Stephanie Toal Marketing & Comm. Co | 40 | $56,882 | |
Christopher D Maher President / Chairman | 1.75 | $0 | |
Michael J Fitzpatrick Treasurer | 1.75 | $0 | |
Angelo J Catania Director | 1.75 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $191 |
| Dividends & Interest | $688,269 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,528,008 |
| Capital Gain Net Income | $1,528,008 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $8,248 |
| Total Revenue | $2,224,716 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $249,215 |
| Other employee salaries and wages | $118,275 |
| Pension plans, employee benefits | $93,528 |
| Interest | $14,277 |
| Taxes | $36,823 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $1,741 |
| Other expenses | $74,408 |
| Total operating and administrative expenses | $607,267 |
| Contributions, gifts, grants paid | $1,716,843 |
| Total expenses and disbursements | $2,324,110 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $249 |
| Savings and temporary cash investments | $50,080 |
| 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 | $11,280,604 |
| 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 | $100,000 |
| Total liabilities | $100,000 |
Grants Awarded
Over the last fiscal year, Oceanfirst Foundation has awarded $1,768,843 in support to 309 organizations.
| Grant Recipient | Amount |
|---|---|
DEBORAH HOSPITAL FOUNDATION PURPOSE: COMMUNITY PARTNER SPONSOR | $50,000 |
Tuckerton, NJ PURPOSE: THE FLOATING CLASSROOM | $50,000 |
MONMOUTH UNIVERSITY INC PURPOSE: SCHOLARSHIPS | $50,000 |
MONMOUTH UNIVERSITY INC PURPOSE: 2021 SCHOLARSHIP PROGRAM | $50,000 |
Neptune, NJ PURPOSE: COVID-19 SUPPORT/COMMUNITY VACCINATION | $50,000 |
Mays Landing, NJ PURPOSE: 2021 SCHOLARSHIP PROGRAM | $40,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Oceanfirst Foundation has recieved totaling $6,560.
| Awarding Organization | Amount |
|---|---|
Wintrode Family Foundation Inc Manahawkin, NJ PURPOSE: UNRESTRICTED CHARITABLE DONATION | $6,560 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
John R Oishei Foundation Buffalo, NY | $294,151,477 | $18,357,929 |
Lor Foundation Inc West Chester, PA | $352,392,197 | $12,888,892 |
Grable Foundation Pittsburgh, PA | $386,701,292 | $35,946,563 |
Connelly Foundation West Conshohocken, PA | $387,913,026 | $27,891,431 |
American Express Foundation New York, NY | $66,234,265 | $62,922,703 |
Essel Foundation Inc Purchase, NY | $100,106,056 | $12,292,478 |
Beth And Ravenel Curry Foundation New York, NY | $0 | $44,744,046 |
Kz Family Foundation New York, NY | $10,936,301 | $30,139,672 |
The Freeman Foundation P-01644-00-7 New York, NY | $343,405,683 | $35,941,951 |
Hearst Foundation Inc New York, NY | $439,249,947 | $42,040,987 |
Bay And Paul Foundations Inc Wilmington, DE | $33,659,644 | $890,121 |
Tansy Charitable Foundation New York, NY | $325,076,608 | $77,631,295 |