Gellman Foundation Inc
- Assets
- $3.0m
- Revenue
- $441.4k
- Investments
- $2.7m
- Employees
- 0
- Location
- Cedar Knolls, NJ
- Founding
- 07/2009
- Data as of
- 12/2021
- EIN
- 26-4436349
Organization Overview
Gellman Foundation Inc is located in Cedar Knolls, NJ. The organization was established in 2009. According to its NTEE Classification (T90) the organization is classified as: Named Trusts N.E.C., 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. Gellman 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 12/2021, Gellman Foundation Inc generated $441.4k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 16.9% each year . All expenses for the organization totaled $624.1k during the year ending 12/2021. While expenses have increased by 14.9% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
DISTRIBUTION OF CLOTHING AND NECESSITIES TO PEOPLE LIVING WITHOUT HOMES OR IN SHLETERS IN NJ AND NY AS WELL AS NEEDY IN OTHER SIMILAR CIRCUMSTANCES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frank Pessolano Trustee | 0 | $0 | |
Deborah Campesi Trustee | 0 | $0 | |
Catherine Gibbons Trustee | 0 | $0 | |
Frank Keller Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $441,402 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $13,841 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $157,703 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $441,402 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $14,332 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $2,548 |
| Depreciation | $1,157 |
| Occupancy | $61,988 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $24,611 |
| Total operating and administrative expenses | $104,636 |
| Contributions, gifts, grants paid | $519,471 |
| Total expenses and disbursements | $624,107 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $52,780 |
| Savings and temporary cash investments | $0 |
| 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 | $25,431 |
| Prepaid expenses and deferred charges | $3,200 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $2,670,428 |
| Net Land, buildings, and equipment | $204,450 |
| Other assets | $60,410 |
| Total assets | $3,016,699 |
| Accounts payable and accrued expenses | $11,759 |
| 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 | $3,300 |
| Total liabilities | $15,059 |
Grants Awarded
Over the last fiscal year, Gellman Foundation Inc has awarded $86,561 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
DISTRIBUTION DIRECTLY TO PEOPLE ON THE STREETS OF NYC PURPOSE: TO PROVIDE USED (DONATED) CLOTHING TO THOSE IN NEED BY GIVING IT DIRECTLY TO THEM | $59,010 |
BARGAIN BOX PURPOSE: TO DONATE USED ITEMS TO THE ORGANIZATION TO SUPPORT THIER BENEFICIARIES | $8,626 |
DRESS FOR SUCCESS PURPOSE: TO DONATE USED ITEMS THAT IS APPROPRIATE TO HELP THOSE IN NEED HAVE THE APPROPRIATE APPAREL TO ENABLE THEM TO FIND JOBS | $4,877 |
ALW CHURCH PURPOSE: TO DONATE USED ITEMS TO THE ORGANIZATION TO SUPPORT THIER BENEFICIARIES | $4,276 |
Morristown, NJ PURPOSE: TO DONATE USED ITEMS TO THIER MISSION TO BENEFIT THOSE IN NEED | $3,853 |
THE NEW COMMUNITY PURPOSE: TO PROVIDE USED (DONATED) CLOTHING TO THE ORGANIZATION TO BENEFIT THOSE IN NEED | $3,520 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Gellman Foundation Inc has recieved totaling $15,029.
| Awarding Organization | Amount |
|---|---|
Good360 Alexandria, VA PURPOSE: TO ASSIST THOSE IN NEED. | $15,029 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Kendeda Fund Wilmington, DE | $107,220,402 | $29,360,526 |
General Professional Liability Lass Fund Trust Agreement Pittsburgh, PA | $165,577,722 | $37,293,555 |
Jader Trust 4 New York, NY | $1,054,851,689 | $157,383,970 |
Rockefeller Family Fund Inc New York, NY | $156,631,848 | $43,772,368 |
Shapiro-Silverberg Foundation New York, NY | $41,665,129 | $24,069,378 |
Hess Philanthropic Fund New York, NY | $231,447,732 | $32,591,174 |
Edith L Trees Charitable Trust Pittsburgh, PA | $351,552,610 | $23,983,044 |
Natural Heritage Trust Albany, NY | $68,314,961 | $23,861,363 |
Hollow Metal Trust Fund New York, NY | $38,290,021 | $12,661,866 |
Adp Foundation Roseland, NJ | $23,560,078 | $20,725,290 |
Foundation Berma New York, NY | $320,553,699 | $33,382,644 |
Bam Endowment Trust Brooklyn, NY | $106,959,115 | $5,566,840 |