Kean Foundation Inc
- Assets
- $2.9m
- Revenue
- $1.0m
- Investments
- $2.4m
- Employees
- 0
- Location
- Parsippany, NJ
- Founding
- 02/2001
- Data as of
- 12/2022
- EIN
- 22-3697400
Organization Overview
Kean Foundation Inc is located in Parsippany, NJ. The organization was established in 2001. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Kean 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 12/2022, Kean Foundation Inc generated $1.0m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 31.9% each year . All expenses for the organization totaled $324.1k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Kean Foundation Inc has awarded 307 individual grants totaling $871,762. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas H Kean President/trustee | 1 | $0 | |
Thomas H Kean Jr Vp/trustee | 0.25 | $0 | |
Reed Kean Vp/trustee | 0.25 | $0 | |
Alexandra Kean-Strong Sec'y/treas/trustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $198,285 |
| Interest on Savings | $0 |
| Dividends & Interest | $104,394 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $718,344 |
| Capital Gain Net Income | $718,344 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,021,023 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $227 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $6,590 |
| Total operating and administrative expenses | $38,387 |
| Contributions, gifts, grants paid | $285,717 |
| Total expenses and disbursements | $324,104 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $24,290 |
| Savings and temporary cash investments | $487,877 |
| 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 | $2,899,540 |
| 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, Kean Foundation Inc has awarded $285,717 in support to 97 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN ACADEMY OF ARTS & SCIENCES PURPOSE: UNRESTRICTED | $1,000 |
AMERICAN MUSEUM OF NATURAL HISTORY PURPOSE: UNRESTRICTED | $1,000 |
ART PRIDE NJ PURPOSE: UNRESTRICTED | $1,000 |
AUSABLE CLUB PRESERVATION FOUNDATION PURPOSE: UNRESTRICTED | $1,000 |
BIG BROTHER BIG SISTER OF ESSEX PURPOSE: UNRESTRICTED | $1,000 |
BOYS & GIRLS CLUBS OF DORCHESTER PURPOSE: UNRESTRICTED | $3,000 |