Schumann Fund For New Jersey Inc
- Assets
- $36.2m
- Revenue
- $4.1m
- Investments
- $35.8m
- Employees
- 0
- Location
- Montclair, NJ
- Founding
- 03/1988
- Data as of
- 12/2021
- EIN
- 52-1556076
Organization Overview
Schumann Fund For New Jersey Inc is located in Montclair, NJ. The organization was established in 1988. 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. Schumann Fund For New Jersey 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, Schumann Fund For New Jersey Inc generated $4.1m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 16.3% each year . All expenses for the organization totaled $1.9m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Schumann Fund For New Jersey Inc has awarded 118 individual grants totaling $2,374,250. 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 |
|---|---|---|---|
Annette Strickland Executive Director | 45 | $158,973 | |
Leonard S Coleman Trustee | 1 | $0 | |
Barbara Bell Coleman Chair | 3 | $0 | |
Roger Pratt Secretary/treasurer | 1 | $0 | |
Anthony Cicatiello Trustee | 1 | $0 | |
Christopher Daggett Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $6,711 |
| Dividends & Interest | $559,399 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $3,443,525 |
| Capital Gain Net Income | $3,442,763 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $44,268 |
| Total Revenue | $4,053,903 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $158,973 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $41,931 |
| Interest | $26 |
| Taxes | $66,650 |
| Depreciation | $0 |
| Occupancy | $26,022 |
| Travel, conferences, and meetings | $5,503 |
| Printing and publications | $0 |
| Other expenses | $27,316 |
| Total operating and administrative expenses | $713,720 |
| Contributions, gifts, grants paid | $1,137,000 |
| Total expenses and disbursements | $1,850,720 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $325,349 |
| Net Accounts receivable | $4,870 |
| 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 | $7,700 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $16,345,643 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $20,997 |
| Total assets | $36,208,452 |
| Accounts payable and accrued expenses | $8,281 |
| 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 | $156,799 |
| Total liabilities | $165,080 |
Grants Awarded
Over the last fiscal year, Schumann Fund For New Jersey Inc has awarded $1,137,000 in support to 41 organizations.
| Grant Recipient | Amount |
|---|---|
UNIFIED VAILSBURG SERVICES ORGANIZATION PURPOSE: OPERATING SUPPORT | $100,000 |
CITY GREEN INC PURPOSE: EXPANSION OF GARDEN STATE GOOD FOOD BUCK NUTRITION INCENTIVES IN ESSEX COUNTY AND STATEWIDE | $75,000 |
Newark, NJ PURPOSE: OPERATING SUPPORT | $75,000 |
FOUNDATION FOR UNIVERSITY HOSPITAL PURPOSE: HEALTHY U PROGRAM TO IMPROVE MENTAL HEALTH AND LOW PHYSICAL ACTIVITY LEVELS WHILE FOSTERING FAMILY BONDING FOR PARENTS AND CHILDREN | $60,000 |
Montclair, NJ PURPOSE: MONTCLAIR PUBLIC SCHOOLS' TWO-YEAR PARTICIPATION IN THE NATIONAL EQUITY PROJECT'S BUILDING EQUITABLE LEARNING ENVIRONMENTS NETWORK | $50,000 |
Newark, NJ PURPOSE: OPERATING SUPPORT FOR PRESCHOOL OPERATIONS | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
John R Oishei Foundation Buffalo, NY | $294,151,477 | $18,357,929 |
Lor Foundation Inc West Chester, PA | $352,392,197 | $12,888,892 |
Grable Foundation Pittsburgh, PA | $386,701,292 | $35,946,563 |
Connelly Foundation West Conshohocken, PA | $387,913,026 | $27,891,431 |
American Express Foundation New York, NY | $66,234,265 | $62,922,703 |
Essel Foundation Inc Purchase, NY | $100,106,056 | $12,292,478 |
Beth And Ravenel Curry Foundation New York, NY | $0 | $44,744,046 |
Kz Family Foundation New York, NY | $10,936,301 | $30,139,672 |
The Freeman Foundation P-01644-00-7 New York, NY | $343,405,683 | $35,941,951 |
Hearst Foundation Inc New York, NY | $439,249,947 | $42,040,987 |
Bay And Paul Foundations Inc Wilmington, DE | $33,659,644 | $890,121 |
Tansy Charitable Foundation New York, NY | $325,076,608 | $77,631,295 |