Gertrude Butts Memorial Fund Inc
- Assets
- $2.9m
- Revenue
- $188.6k
- Investments
- $2.8m
- Employees
- 0
- Location
- Newark, NJ
- Founding
- 04/1930
- Data as of
- 12/2021
- EIN
- 22-6043630
Organization Overview
Gertrude Butts Memorial Fund Inc is located in Newark, NJ. The organization was established in 1930. 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. Gertrude Butts Memorial Fund 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, Gertrude Butts Memorial Fund Inc generated $188.6k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.7% each year. All expenses for the organization totaled $200.6k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Gertrude Butts Memorial Fund Inc has awarded 172 individual grants totaling $1,111,240. 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 |
|---|---|---|---|
Allison Garde ESQ President | 1 | $0 | |
Juli Towell Scholarship Chair | 1 | $0 | |
The Reverend Thomas Murphy Trustee | 1 | $0 | |
The Reverend Miguel Hernandez Trustee | 1 | $0 | |
Rosie Grant Treasurer | 1 | $0 | |
Mary Ann Risley Secretary | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $46,758 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $141,880 |
| Capital Gain Net Income | $141,880 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $188,638 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $3,350 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,210 |
| Total operating and administrative expenses | $25,592 |
| Contributions, gifts, grants paid | $175,000 |
| Total expenses and disbursements | $200,592 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $47,427 |
| Savings and temporary cash investments | $0 |
| 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 | $2,838,373 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $2,885,800 |
| Accounts payable and accrued expenses | $4,000 |
| 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 | $10,497 |
| Total liabilities | $14,497 |
Grants Awarded
Over the last fiscal year, Gertrude Butts Memorial Fund Inc has awarded $175,000 in support to 30 organizations.
| Grant Recipient | Amount |
|---|---|
AVERY PHILL PURPOSE: SCHOLARSHIP | $7,000 |
DEMILLE TOWNES PURPOSE: SCHOLARSHIP | $7,000 |
CHUKWUEBIZIE ANUAMADI PURPOSE: SCHOLARSHIP | $7,000 |
RAMIRO REYNAGA PURPOSE: SCHOLARSHIP | $7,000 |
KY'ZIRAH TOWNES PURPOSE: SCHOLARSHIP | $7,000 |
DONALD DAVIS JR PURPOSE: SCHOLARSHIP | $7,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Druckenmiller Foundation New York, NY | $1,579,806,367 | $402,828,458 |
Rockefeller Brothers Fund Inc New York, NY | $1,654,004,790 | $94,665,303 |
Anna Maria And Stephen Kellen Foundation Inc New York, NY | $1,287,407,560 | $57,361,611 |
The Wallace Foundation New York, NY | $1,815,949,042 | $114,535,478 |
Oberkotter Foundation Philadelphia, PA | $83,021,123 | $23,009,013 |
Stephen A Schwarzman Foundation New York, NY | $124,156,635 | $61,557,254 |
Pepsico Foundation Inc Purchase, NY | $25,033,678 | $1,734,936 |
Pnc Foundation Pittsburgh, PA | $218,373,148 | $3,451,991 |
Foundation Mireille And James Levy Usa New York, NY | $36,878,233 | $277,701 |
The Bat Hanadiv Foundation No 3 New York, NY | $1,717,297,999 | $245,079,951 |
Big East Conference Inc New York, NY | $25,429,264 | $59,716,596 |
Bristol-Myers Squibb Foundation Inc New York, NY | $146,629,708 | $46,784 |