Milton Schamach Foundation Inc
- Assets
- $727.6k
- Revenue
- $52.8k
- Investments
- $656.9k
- Employees
- 0
- Location
- Saddle Brook, NJ
- Founding
- 02/1970
- Data as of
- 08/2022
- EIN
- 23-7051147
Organization Overview
Milton Schamach Foundation Inc is located in Saddle Brook, NJ. The organization was established in 1970. 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. Milton Schamach 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 08/2022, Milton Schamach Foundation Inc generated $52.8k 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 (13.9%) each year. All expenses for the organization totaled $50.6k during the year ending 08/2022. As we would expect to see with falling revenues, expenses have declined by (13.2%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Milton Schamach Foundation Inc has awarded 121 individual grants totaling $561,703. 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 |
|---|---|---|---|
Gene Schamach Senior Vice President/trus | 0.1 | $2,250 | |
Rhoda Schamach Asst Treasurer/asst Secy/t | 0.1 | $2,250 | |
Nancy Freedman Second Vice President/trus | 0.1 | $2,250 | |
Howard Schamach President/treasurer/truste | 0.1 | $2,250 | |
Michael Schamach Third Vice President/trust | 0.1 | $2,250 | |
Justin Schamach Secretary/trustee | 0.1 | $2,250 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $1,722 |
| Dividends & Interest | $12,322 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $38,722 |
| Capital Gain Net Income | $38,722 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $52,766 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $13,500 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,595 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $264 |
| Total operating and administrative expenses | $37,117 |
| Contributions, gifts, grants paid | $13,500 |
| Total expenses and disbursements | $50,617 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $352 |
| Savings and temporary cash investments | $69,113 |
| 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 | $1,200 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $727,575 |
| 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, Milton Schamach Foundation Inc has awarded $13,500 in support to 15 organizations.
| Grant Recipient | Amount |
|---|---|
WILMER OPHTHALMOLOGICAL INSTITUTE PURPOSE: FOR RESEARCH BEING DONE BY DR CAMPOCHIARO MD AT WILMER EYE INSTITUTE | $1,000 |
HACKENSACK JOSEPH M SANZARI CHILDRENS HOSPITAL PURPOSE: GENERAL GRANT FOR PURCHASE OF MEDICAL EQUIPMENT | $1,000 |
TUNNEL TO TOWERS FOUNDATION PURPOSE: GENERAL GRANT TOWARDS SUPPORTING OUR HEROES | $1,000 |
CHILTON MEDICAL CENTER FOUNDATION PURPOSE: GENERAL GRANT FOR PURCHASE OF MEDICAL EQUIPMENT | $1,000 |
MEMORIAL SLOAN KETTERING CANCER CENTER PURPOSE: GENERAL GRANT FOR PURCHASE OF MEDICAL EQUIPMENT | $1,000 |
Somers Point, NJ PURPOSE: GENERAL GRANT FOR PURCHASE OF MEDICAL EQUIPMENT | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Selz Foundation New York, NY | $142,395,054 | $24,456,334 |
Rita Allen Foundation Princeton, NJ | $219,012,203 | $23,878,841 |
The Derfner Foundation New York, NY | $158,472,968 | $13,106,656 |
Jill Roberts Charitable Foundation Inc Garden City, NY | $11,485 | $9,710,793 |
James And Merryl Tisch Foundation Inc New York, NY | $1,291,425 | $11,020,609 |
Tortuga Foundation New York, NY | $110,168,381 | $33,186,414 |
The Joseph H Flom Foundation New York, NY | $6,836,169 | $3,314,736 |
Head & Heart Foundation Tr Wilmington, DE | $258,907,072 | $16,871,801 |
The Applebaum Foundation Inc New York, NY | $229,643,281 | $16,929,047 |
Deutsche Bank Americas Foundation New York, NY | $38,867,163 | $11,020,529 |
Charles A Dana Fdn Inc New York, NY | $248,257,333 | $20,769,847 |
The Powder Mill Foundation York, PA | $147,181,195 | $3,651,780 |