Michael P Bennett Foundation Inc
- Assets
- $81.2k
- Revenue
- $27.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Brooklyn, NY
- Founding
- 08/2014
- Data as of
- 12/2022
- EIN
- 46-4384236
Organization Overview
Michael P Bennett Foundation Inc is located in Brooklyn, NY. The organization was established in 2014. According to its NTEE Classification (T12) the organization is classified as: Fund Raising & Fund Distribution, 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. Michael P Bennett 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 12/2022, Michael P Bennett Foundation Inc generated $27.5k 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 (23.3%) each year. All expenses for the organization totaled $36.6k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (20.3%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Michael P Bennett Foundation Inc has awarded 116 individual grants totaling $442,814. 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION'S MISSION IS TO PROVIDE ASSISTANCE TO ANY NEEDY OR DESERVING INDIVIDUAL WITHOUT REGARD TO RACE NATIONALITY, SEX, COLOR OR CREED THROUGH THE ESTABLISHMENT OF A CHARITABLE FUND.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael P Bennett President | 0 | $0 | |
Karen E Smith Treasurer | 0 | $0 | |
John Demas Secretary | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $35,000 |
| Interest on Savings | $15 |
| Dividends & Interest | $490 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$8,050 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $27,455 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $34 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $75 |
| Total operating and administrative expenses | $109 |
| Contributions, gifts, grants paid | $36,500 |
| Total expenses and disbursements | $36,609 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $81,239 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $81,239 |
| 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, Michael P Bennett Foundation Inc has awarded $36,500 in support to 14 organizations.
| Grant Recipient | Amount |
|---|---|
STEVE CARBONE PURPOSE: SOCIAL ASSISTANCE | $3,000 |
CARMEL RICHMOND NURSING HOME PURPOSE: CHARITABLE | $5,500 |
CHEST FOUNDATION PURPOSE: CHARITABLE | $3,000 |
THE CENTER FOR DISCOVERY PURPOSE: MEDICAL | $6,000 |
XAVERIAN HIGH SCHOOL PURPOSE: EDUCATIONAL | $6,000 |
NORWEGIAN CHRISTIAN HOME PURPOSE: SOCIAL ASSISTANCE | $1,000 |