Monmouth Park Charity Fund Inc
- Assets
- $411.6k
- Revenue
- $331.4k
- Investments
- $350.0k
- Employees
- 0
- Location
- Oceanport, NJ
- Founding
- 12/1956
- Data as of
- 12/2023
- EIN
- 22-6063135
Organization Overview
Monmouth Park Charity Fund Inc is located in Oceanport, NJ. The organization was established in 1956. 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 the central organization for a national or regional group of organizations. Monmouth Park Charity 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 12/2023, Monmouth Park Charity Fund Inc generated $331.4k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.6% each year. All expenses for the organization totaled $354.4k during the year ending 12/2023. While expenses have increased by 6.3% per year over the past 9 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
RAISING OF FUNDS FOR DISTRIBUTION TO MONMOUTH COUNTY NJ CHARITIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
CASH GRANTS TO 50+ MONMOUTH COUNTY NEW JERSEY CHARITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Maureen Lloyd Co-President | OfficerTrustee | 1 | $0 |
Maria Tanzola Co-President | OfficerTrustee | 1 | $0 |
Barry Shapiro Vice-President | OfficerTrustee | 1 | $0 |
Linda Sirico Secretary | OfficerTrustee | 1 | $0 |
Denise Anderson Trustee | Trustee | 1 | $0 |
John Klein Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $145,652 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $29,111 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $174,763 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $92,141 |
| Net Income from Gaming Activities | $64,497 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $331,401 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $253,250 |
| 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. | $70,200 |
| Compensation of current officers, directors, key employees. | $17,550 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $3,414 |
| Payroll taxes | $8,042 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,632 |
| Office expenses | $1,852 |
| Information technology | $2,848 |
| 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 | $757 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,527 |
| All other expenses | $0 |
| Total functional expenses | $354,429 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $61,586 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $350,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $411,586 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $411,586 |
| Net assets with donor restrictions | $0 |
| 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 | $411,586 |
Grants Awarded
Over the last fiscal year, Monmouth Park Charity Fund Inc has awarded $51,750 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
NEW JERSEY BLIND CITIZENS ASSOCIATION PURPOSE: ACCOMPLISH MORE TOGETHER GRANT | $10,000 |
GIRL SCOUTS OF THE JERSEY SHORE PURPOSE: ACCOMPLISH MORE TOGETHER GRANT | $10,000 |
SOCIAL JUSTICE AT TRINITY PURPOSE: ACCOMPLISH MORE TOGETHER GRANT | $10,000 |
ASBURY PARK MUSIC FOUNDATION PURPOSE: WINNER CIRCLE GRANT | $21,750 |