Romete Private Family Foundation Inc
- Assets
- $3.4m
- Revenue
- $293.8k
- Investments
- $3.3m
- Employees
- 0
- Location
- Pennington, NJ
- Founding
- 09/2008
- Data as of
- 07/2022
- EIN
- 26-2381369
Organization Overview
Romete Private Family Foundation Inc is located in Pennington, NJ. The organization was established in 2008. 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. Romete Private Family 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 07/2022, Romete Private Family Foundation Inc generated $293.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (42.3%) each year. All expenses for the organization totaled $482.0k during the year ending 07/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Romete Private Family Foundation Inc has awarded 12 individual grants totaling $2,750,000. 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 |
|---|---|---|---|
Michael J Romersa Director | 2 | $0 | |
Martin Festa Director | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $91,294 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $202,459 |
| Capital Gain Net Income | $202,459 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1 |
| Total Revenue | $293,754 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $9,912 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $372 |
| Total operating and administrative expenses | $47,044 |
| Contributions, gifts, grants paid | $435,000 |
| Total expenses and disbursements | $482,044 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $695 |
| Savings and temporary cash investments | $82,131 |
| 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 | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $19,380 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $3,359,806 |
| 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, Romete Private Family Foundation Inc has awarded $435,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ST ATHANASIUS ROMAN CATHOLIC PURPOSE: UNRESTRICTED GENERAL | $285,000 |
FUTURES IN EDUCATION ENDOWMENT PURPOSE: UNRESTRICTED GENERAL | $150,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
S & G Foundation albany, NY | $1,180,089,159 | $294,936,683 |
Starr Foundation New York, NY | $1,351,331,495 | $187,314,215 |
Robertson Foundation New York, NY | $308,129,047 | $104,540,927 |
William Randolph Hearst Foundation New York, NY | $0 | $92,096,829 |
Foundation For A Just Society New York, NY | $0 | $262,120,919 |
Surdna Foundation Inc New York, NY | $0 | $71,392,126 |
Johnson & Johnson Foundation United States Inc New Brunswick, NJ | $130,108,063 | $92,858,448 |
Carson Fam Charitable Tr New York, NY | $302,357,968 | $144,716,166 |
Blavatnik Family Foundation 2020 New York, NY | $0 | $14,146 |
Henry Luce Foundation Inc New York, NY | $1,226,277,880 | $84,818,070 |
Paul E Singer Foundation New York, NY | $412,018,579 | $19,273,091 |
Bernard And Anne Spitzer Charitable Tr New York, NY | $0 | $17,565,686 |