Vericon Foundation
- Assets
- $629.2k
- Revenue
- $116.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Mountainside, NJ
- Founding
- 05/2015
- Data as of
- 12/2022
- EIN
- 47-2818423
Organization Overview
Vericon Foundation is located in Mountainside, NJ. The organization was established in 2015. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Vericon 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 12/2022, Vericon Foundation generated $116.3k 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 (16.0%) each year. All expenses for the organization totaled $126.7k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Vericon Foundation has awarded 22 individual grants totaling $261,783. 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 Mission:
Part 3 - Line 1
THE ORGANIZATION WAS FORMED TO PROMOTE, WITHOUT LIMITATION, THE RESEARCH AND DEVELOPMENT OF CURES FOR DISEASES AS WELL AS TO ASSIST WITH PROGRAMS THAT ASSIST THE POOR AND SUCH OTHER DISADVANTAGED PERSONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROMOTE RESEARCH AND DEVELOPMENT TO FIND CURES FOR VARIOUS DISEASES AS WELL AS TO ASSIST WITH PROGRAMS THAT ASSIST THE POOR AND SUCH OTHER DISADVANTAGED PERSONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles A Deangelis President And Trustee | 1 | $0 | |
Justin Hermey Trustee | 1 | $0 | |
Robert Mikell Trustee | 1 | $0 | |
Stephen M Mellett Trustee | 1 | $0 | |
Tricia A Vohden Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $116,300 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $116,300 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $50,716 |
| Total operating and administrative expenses | $53,016 |
| Contributions, gifts, grants paid | $73,708 |
| Total expenses and disbursements | $126,724 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $629,207 |
| 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 | $629,207 |
| 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, Vericon Foundation has awarded $73,708 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
FEEDING SOUTH PEMBROKE PARK PURPOSE: CHARITABLE PURPOSES | $158 |
BRIDGES OUTREACH INC PURPOSE: CHARITABLE PURPOSES | $36,775 |
OASIS - A HAVEN FOR WOMEN & CHILDREN PURPOSE: CHARITABLE PURPOSES | $36,775 |