The Morris I Franco Foundation Inc
- Assets
- $1.3m
- Revenue
- $42.2k
- Investments
- $976.4k
- Employees
- 0
- Location
- Rahway, NJ
- Founding
- 10/1969
- Data as of
- 06/2023
- EIN
- 23-7028051
Organization Overview
The Morris I Franco Foundation Inc is located in Rahway, NJ. The organization was established in 1969. 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. Morris I Franco 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 06/2023, Morris I Franco Foundation Inc generated $42.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.9%) each year. All expenses for the organization totaled $12.3k during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (35.4%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Isaac M Franco V/p, Treasurer | 2 | $0 | |
Carol Franco Secretary | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $7,605 |
| Dividends & Interest | $56,313 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$21,761 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $42,157 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $698 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $282 |
| Total operating and administrative expenses | $980 |
| Contributions, gifts, grants paid | $11,367 |
| Total expenses and disbursements | $12,347 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $86,668 |
| Savings and temporary cash investments | $57,547 |
| 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 | $211,760 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $976,423 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,332,398 |
| 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, The Morris I Franco Foundation Inc has awarded $359,375 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
VARIOUS AVAILABLE UPON REQUEST PURPOSE: CHARITABLE | $9,375 |
JEWISH COMMUNAL FUND PURPOSE: CHARITABLE | $350,000 |