Kearnybank Foundation Inc
- Assets
- $13.9m
- Revenue
- $1.1m
- Investments
- $13.7m
- Employees
- 0
- Location
- Fairfield, NJ
- Founding
- 09/2016
- Data as of
- 12/2021
- EIN
- 47-3699249
Organization Overview
Kearnybank Foundation Inc is located in Fairfield, NJ. The organization was established in 2016. 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. Kearnybank 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, Kearnybank Foundation Inc generated $1.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (42.5%) each year. All expenses for the organization totaled $877.8k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Kearnybank Foundation Inc has awarded 186 individual grants totaling $1,437,724. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eric B Heyer Director, Treasurer | 1 | $0 | |
Dr Joseph Mazza Director | 1 | $0 | |
Catherine Milone Director | 1 | $0 | |
Leo Montanaro Director | 1 | $0 | |
Craig L Montanaro Director, President, Secretary | 1 | $0 | |
John Hopkins Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $40,070 |
| Dividends & Interest | $298,854 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $753,572 |
| Capital Gain Net Income | $753,572 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,092,496 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $7,500 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $16,252 |
| Total operating and administrative expenses | $98,785 |
| Contributions, gifts, grants paid | $779,025 |
| Total expenses and disbursements | $877,810 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $114,472 |
| Savings and temporary cash investments | $100,824 |
| 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 | $7,170,589 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $13,910,944 |
| 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, Kearnybank Foundation Inc has awarded $779,025 in support to 102 organizations.
| Grant Recipient | Amount |
|---|---|
Edison, NJ PURPOSE: EDUCATION | $65,000 |
CHILTON MEDICAL CARE FOUNDATION PURPOSE: CORONAVIRUS/QUALITY OF LIFE | $55,600 |
Rutherford, NJ PURPOSE: QUALITY OF LIFE | $50,000 |
HABITAT FOR HUMANITY OF GREATER NEWARK PURPOSE: HOUSING | $50,000 |
Ocean Grove, NJ PURPOSE: COMMUNITY/EDUCATION | $40,000 |
AFRICAN AMERICAN CHAMBER OF COMMERCE PURPOSE: EDUCATION | $30,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Druckenmiller Foundation New York, NY | $1,579,806,367 | $402,828,458 |
Rockefeller Brothers Fund Inc New York, NY | $1,654,004,790 | $94,665,303 |
Anna Maria And Stephen Kellen Foundation Inc New York, NY | $1,287,407,560 | $57,361,611 |
The Wallace Foundation New York, NY | $1,815,949,042 | $114,535,478 |
Oberkotter Foundation Philadelphia, PA | $83,021,123 | $23,009,013 |
Stephen A Schwarzman Foundation New York, NY | $124,156,635 | $61,557,254 |
Pepsico Foundation Inc Purchase, NY | $25,033,678 | $1,734,936 |
Pnc Foundation Pittsburgh, PA | $218,373,148 | $3,451,991 |
Foundation Mireille And James Levy Usa New York, NY | $36,878,233 | $277,701 |
The Bat Hanadiv Foundation No 3 New York, NY | $1,717,297,999 | $245,079,951 |
Big East Conference Inc New York, NY | $25,429,264 | $59,716,596 |
Bristol-Myers Squibb Foundation Inc New York, NY | $146,629,708 | $46,784 |