Michael P Bennett Foundation Inc
- Assets
- $86.0k
- Revenue
- $57.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Brooklyn, NY
- Founding
- 08/2014
- Data as of
- 12/2021
- 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 12/2021, Michael P Bennett Foundation Inc generated $57.2k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $67.7k during the year ending 12/2021. While expenses have increased by 1.3% per year over the past 7 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.
Since 2016, Michael P Bennett Foundation Inc has awarded 107 individual grants totaling $426,314. 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
2021
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 | |
John Demas Secretary | 0 | $0 | |
Karen E Smith Treasurer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $40,000 |
| Interest on Savings | $1 |
| Dividends & Interest | $995 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $16,218 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $57,214 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $115 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $74 |
| Total operating and administrative expenses | $189 |
| Contributions, gifts, grants paid | $67,500 |
| Total expenses and disbursements | $67,689 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $85,988 |
| 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 | $85,988 |
| 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 $67,500 in support to 16 organizations.
| Grant Recipient | Amount |
|---|---|
XAVERIAN HIGH SCHOOL PURPOSE: EDUCATIONAL | $25,000 |
Staten Island, NY PURPOSE: CHARITABLE | $12,500 |
CHEST FOUNDATION PURPOSE: CHARITABLE | $5,000 |
BRENDAN MALONEY PURPOSE: SOCIAL ASSISTANCE | $5,000 |
DIANE JOKERST PURPOSE: SOCIAL ASSISTANCE | $3,000 |
MARIE ANTONUCCI PURPOSE: SOCIAL ASSISTANCE | $3,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Clara Lionel Foundation New York, NY | $44,086,810 | $23,596,509 |
Visionspring New York, NY | $15,269,850 | $12,679,680 |
America Gives Inc New York, NY | $1,069,288 | $7,827,978 |
Foundations In Education Inc Bridgeport, CT | $36,181,181 | $11,526,982 |
Grant Recommendation Fund Spring Valley, NY | $460,055 | $4,767,095 |
Yougivegoods Foundation Inc Mendham, NJ | $162,103 | $4,310,625 |
Passavant Hospital Foundation Pittsburgh, PA | $52,435,888 | $5,249,843 |
The Essential Foundation Fka Aqua Charitable Trust Bryn Mawr, PA | $32,073,281 | $19,000,000 |
The Catherine Jefferson Foundation Darien, CT | $18,987,801 | $13,741,460 |
Bikoff Foundation Whitestone, NY | $65,723,002 | $14,790,071 |
Giving Tuesday Inc Brooklyn, NY | $1,987,227 | $3,527,479 |
The Meg And Bennett Goodman Family Foundation Jenkintown, PA | $50,458,470 | $11,004,981 |