John P Salamone Memorial Foundation
- Assets
- $393.1k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Basking Ridge, NJ
- Founding
- 07/2002
- Data as of
- 12/2023
- EIN
- 02-0577343
Organization Overview
John P Salamone Memorial Foundation is located in Basking Ridge, NJ. The organization was established in 2002. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. John P Salamone Memorial 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, John P Salamone Memorial Foundation generated $29.1k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 9.5% each year. All expenses for the organization totaled $11.7k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3
TWO $3,000 SCHOLARSHIP FOR ATHLETES STUDENTS AT WEST ESSEX HIGH SCHOOL IN NORTH CALDWELL NJ. 1 $5000 SCHOLARSHIP FOR FURTHERING EDUCATION AT UNIVERSITY OF SOUTH CAROLINA
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Catherine Sauer President President | 3 | $0 | |
Gregory Vassallo Treasurer | 2 | $0 | |
Kenneth Turnbull Secretary | 2 | $0 | |
Michael Salamone Trustee | 1 | $0 | |
Michelle Cataline Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,648 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $23,460 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $29,108 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $0 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $700 |
| Total expenses | $11,700 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $393,083 |
| Other assets | $0 |
| Total assets | $393,083 |
| Total liabilities | $0 |
| Net assets or fund balances | $393,083 |