Jem Charitable Foundation
- Assets
- $23.8m
- Revenue
- $462.2k
- Investments
- $22.5m
- Employees
- 0
- Location
- Erie, PA
- Founding
- 02/2015
- Data as of
- 12/2023
- EIN
- 47-2054575
Organization Overview
Jem Charitable Foundation is located in Erie, PA. The organization was established in 2015. 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. Jem Charitable Foundation 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 12/2023, Jem Charitable Foundation generated $462.2k in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 62.0% each year . All expenses for the organization totaled $1.1m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Jem Charitable Foundation has awarded 29 individual grants totaling $7,150,000. 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
APPROACHING FOUR (4) VARIOUS PUBLIC CHARITIES IN ERIE, PA TO ASCERTAIN THEIR NEEDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ernie Disantis Vice President | 5 | $6,750 | |
John Stefanik Director | 5 | $2,250 | |
Michael J Lubowicki President | 5 | $9,000 | |
John Paganie Secretary | 5 | $6,750 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Knox Mclaughlin Gornall & Sennett Pc | 12/30/19 | $70,708 |
John Mantyla | 12/30/19 | $78,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $15,573 |
| Dividends & Interest | $473,782 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$27,133 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $462,222 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $24,750 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $9,083 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $88,306 |
| Total operating and administrative expenses | $138,168 |
| Contributions, gifts, grants paid | $1,000,000 |
| Total expenses and disbursements | $1,138,168 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $13,739 |
| Savings and temporary cash investments | $1,305,452 |
| 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 | $941 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $22,514,416 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $23,834,548 |
| Accounts payable and accrued expenses | $1,355 |
| 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 | $1,355 |
Grants Awarded
Over the last fiscal year, Jem Charitable Foundation has awarded $1,000,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
CATHEDRAL PREPARATORY SCHOOL PURPOSE: SCHOLARSHIPS | $250,000 |
GANNON UNIVERSITY PURPOSE: SCHOLARSHIPS | $250,000 |
ST PETER CATHEDRAL CHURCH PURPOSE: FOR PROPERTY AND PLANT | $100,000 |
SAINT MARY'S HOME OF ERIE PURPOSE: FOR BENEVOLENT CARE | $400,000 |