Smart Family Foundation Of New York
- Assets
- $49.8m
- Revenue
- $3.5m
- Investments
- $48.2m
- Employees
- 0
- Location
- New Rochelle, NY
- Founding
- 09/2016
- Data as of
- 12/2023
- EIN
- 81-3395492
Organization Overview
Smart Family Foundation Of New York is located in New Rochelle, NY. 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. Smart Family Foundation Of New York 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, Smart Family Foundation Of New York generated $3.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (27.4%) each year. All expenses for the organization totaled $3.7m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Smart Family Foundation Of New York has awarded 376 individual grants totaling $13,199,000. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary Smart Chair,secretary And Direct | 15 | $112,500 | |
David Stone President,treasurer And Di | 15 | $112,500 | |
Jim Danatos Director | 5 | $27,500 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Jp Morgan | 12/30/22 | $172,007 |
Bank Of America | 12/30/22 | $51,051 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $1,250,898 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,188,966 |
| Capital Gain Net Income | $2,188,966 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $94,421 |
| Total Revenue | $3,534,285 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $252,500 |
| Other employee salaries and wages | $14,975 |
| Pension plans, employee benefits | $14,962 |
| Interest | $0 |
| Taxes | $58,682 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $35,307 |
| Printing and publications | $0 |
| Other expenses | $23,758 |
| Total operating and administrative expenses | $736,967 |
| Contributions, gifts, grants paid | $2,935,500 |
| Total expenses and disbursements | $3,672,467 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $274,966 |
| Savings and temporary cash investments | $1,078,854 |
| 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 | $1,749,002 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $206,000 |
| Total assets | $49,795,706 |
| 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 | $32,967 |
| Total liabilities | $32,967 |
Grants Awarded
Over the last fiscal year, Smart Family Foundation Of New York has awarded $2,935,500 in support to 78 organizations.
| Grant Recipient | Amount |
|---|---|
AEOLIAN CHAMBER PLAYERS INC PURPOSE: BACH MUSIC FESTIVAL | $10,000 |
AMERICANS FOR BEN-GURION UNIVERSITY INC PURPOSE: FUND PROF SHOSH ARAD'S SULFATED POLYSACCHARIDES OF RED MICROALGAE-BIOTECHNOLOGY APPLICATIONS | $75,000 |
AMERICAN JEWISH COMMITTEE PURPOSE: GENERAL SUPPORT | $150,000 |
ASSOCIATED MUSIC TEACHERS LEAGUE INC PURPOSE: AARON ROSAND MEMORIAL PRIZES | $10,000 |
AT HOME ON THE SOUND PURPOSE: ASSIST WITH EXISTING AND NEW PROGRAMS | $10,000 |
BRONX ARTS ENSEMBLE INC PURPOSE: GENERAL SUPPORT | $20,000 |