Foster-Karney Trust Fund
- Assets
- $3.5m
- Revenue
- $177.7k
- Investments
- $3.3m
- Employees
- 0
- Location
- Ocean City, NJ
- Founding
- 11/1988
- Data as of
- 12/2023
- EIN
- 22-6441627
Organization Overview
Foster-Karney Trust Fund is located in Ocean City, NJ. The organization was established in 1988. 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. Foster-Karney Trust Fund 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, Foster-Karney Trust Fund generated $177.7k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.8%) each year. All expenses for the organization totaled $217.6k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Foster-Karney Trust Fund has awarded 200 individual grants totaling $1,171,278. 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 |
|---|---|---|---|
John Quinn Treasurer | 1 | $0 | |
Edward Price Chairmen | 1 | $0 | |
George Bookos Secretary | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $746 |
| Dividends & Interest | $153,169 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $23,795 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $4,929 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $177,710 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $787 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $5,762 |
| Contributions, gifts, grants paid | $211,808 |
| Total expenses and disbursements | $217,570 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,501 |
| Savings and temporary cash investments | $62,252 |
| 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 | $66,250 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $908,331 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $3,469,891 |
| 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, Foster-Karney Trust Fund has awarded $211,808 in support to 23 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN LEGION AUXILIARY POST 524 PURPOSE: GENERAL PURPOSE | $16,108 |
AMERICAN LEGION POST 524 PURPOSE: GENERAL PURPOSE | $10,000 |
CAPE ATLANTIC CITIZENS ALTERING THE PURPOSE: GRNERAL PRRPOSE | $6,000 |
CASA PURPOSE: GENERAL PURPOSE | $3,000 |
CONTACT CAPE ATLANTIC PURPOSE: GENERAL PURPOSE | $5,000 |
COVENANT HOUSE-ATLANTIC CITY PURPOSE: GENERAL PURPOSE | $3,000 |