Provident Bank Foundation Inc
- Assets
- $19.6m
- Revenue
- $1.8m
- Investments
- $19.3m
- Employees
- 0
- Location
- Iselin, NJ
- Founding
- 05/2004
- Data as of
- 12/2022
- EIN
- 04-3739441
Organization Overview
Provident Bank Foundation Inc is located in Iselin, NJ. The organization was established in 2004. 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. Provident Bank 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 12/2022, Provident Bank Foundation Inc generated $1.8m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 0.1% each year. All expenses for the organization totaled $2.3m during the year ending 12/2022. While expenses have increased by 6.6% per year over the past 4 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Provident Bank Foundation Inc has awarded 698 individual grants totaling $6,274,994. 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 |
|---|---|---|---|
Samantha Plotino See Stmt 8 Executive Director | 37.5 | $107,493 | |
Carmine Torrecuso See Stmt8 Treasurer | 5 | $13,911 | |
Karen Mcmullen Director | 1 | $4,000 | |
Jeffries Shein Director | 1 | $4,000 | |
Christopher Martin President And Director | 2 | $0 | |
Dr Carlos Hernandez Ph D Chairman | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $183 |
| Dividends & Interest | $818,309 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $955,992 |
| Capital Gain Net Income | $955,992 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,774,484 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $129,404 |
| Other employee salaries and wages | $87,349 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $23,250 |
| Depreciation | $3,620 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $80,904 |
| Total operating and administrative expenses | $469,548 |
| Contributions, gifts, grants paid | $1,868,684 |
| Total expenses and disbursements | $2,338,232 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $257,157 |
| 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 | $39,742 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $1,607 |
| Other assets | $0 |
| Total assets | $19,570,805 |
| 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, Provident Bank Foundation Inc has awarded $1,868,684 in support to 194 organizations.
| Grant Recipient | Amount |
|---|---|
RARITAN VALLEY COMMUNITY COLLEGE FOUNDATION PURPOSE: THE ACHIEVEMENT CENTER AT RVCC | $80,000 |
UNITED WAY OF NORTHERN NEW JERSEY PURPOSE: UNITED FOR ALICE@WORK IN NEW JERSEY | $70,000 |
CUMAC PURPOSE: CREATING HEALING-CENTERED COMMUNITIES | $33,334 |
Hackensack, NJ PURPOSE: UNITY HEALTH PARTNERSHIP: A PATHWAY TO HEALTH ACCESS & EQUITY | $25,000 |
Clinton, NJ PURPOSE: ADDICTION RECOVERY PROGRAMS | $25,000 |
Boston, MA PURPOSE: PROPEL AMERICA HEALTHCARE PATHWAYS | $25,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Provident Bank Foundation Inc has recieved totaling $11,204.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of New Jersey Morristown, NJ PURPOSE: GENERAL SUPPORT | $11,204 |
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 |