Milton Schamach Foundation Inc
- Assets
- $725.9k
- Revenue
- $36.1k
- Investments
- $682.4k
- Employees
- 0
- Location
- Saddle Brook, NJ
- Founding
- 02/1970
- Data as of
- 08/2023
- 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 08/2023, Milton Schamach Foundation Inc generated $36.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (16.3%) each year. All expenses for the organization totaled $37.8k during the year ending 08/2023. As we would expect to see with falling revenues, expenses have declined by (14.8%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Milton Schamach Foundation Inc has awarded 122 individual grants totaling $507,703. 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 | $250 | |
Howard Schamach President/treasurer/truste | 0.1 | $250 | |
Rhoda Schamach Asst Treasurer/asst Secy/t | 0.1 | $250 | |
Michael Schamach Third Vice President/trust | 0.1 | $250 | |
Nancy Freedman Second Vice President/trus | 0.1 | $250 | |
Justin Schamach Secretary/trustee | 0.1 | $250 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $2,782 |
| Dividends & Interest | $12,965 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $20,329 |
| Capital Gain Net Income | $20,329 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $36,076 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $1,500 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $752 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | -$412 |
| Total operating and administrative expenses | $21,756 |
| Contributions, gifts, grants paid | $16,000 |
| Total expenses and disbursements | $37,756 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $354 |
| Savings and temporary cash investments | $42,341 |
| 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 | $824 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $725,895 |
| 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 $16,000 in support to 16 organizations.
| Grant Recipient | Amount |
|---|---|
CHILTON MEDICAL CENTER FOUNDATION PURPOSE: GENERAL GRANT FOR PURCHASE OF MEDICAL EQUIPMENT | $1,000 |
DEBORAH HOSPITAL FOUNDATION PURPOSE: GENERAL GRANT FOR PURCHASE OF MEDICAL EQUIPMENT | $1,000 |
HACKENSACK UNIVERSITY MEDICAL CENTER FOUNDATION PURPOSE: GENERAL GRANT FOR ABBNORMAL PLACENTATION CENTER | $1,000 |
FAMILY RELEIF FUND PURPOSE: GENERAL GRANT FOR SIMI FAMILYGENERAL GRANT FOR SIMI FAMILY | $500 |
HOLY NAME MEDICAL CENTER REGIONAL CANCER CENTER PURPOSE: TO SUPPORT RESEARCH IN FIELD OF RADIATION ONCOLOGY | $1,000 |
MEMORIAL SLOAN KETTERING CANCER CENTER PURPOSE: GENERAL GRANT FOR CANCER RESEARCH | $1,000 |