Tower Foundation Of Manhasset Inc
- Assets
- $570.2k
- Revenue
- $41.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Manhasset, NY
- Founding
- 10/1991
- Data as of
- 12/2021
- EIN
- 11-3055013
Organization Overview
Tower Foundation Of Manhasset Inc is located in Manhasset, NY. The organization was established in 1991. According to its NTEE Classification (T99) the organization is classified as: Philanthropy, Voluntarism & Grantmaking Foundations N.E.C., 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. Tower Foundation Of Manhasset 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, Tower Foundation Of Manhasset Inc generated $41.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (15.4%) each year. All expenses for the organization totaled $79.4k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (7.0%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE SUPPORT OF EDUCATION IN THE MANHASSET PUBLIC SCHOOLS. THE FOUNDATION IS SIMILAR TO THE ENDOWMENT OF A COLLEGE OR PREP SCHOOL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE SUPPORT OF EDUCATION IN THE MANHASSET PUBLIC SCHOOLS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Vicky Giouroukakis Co-President | OfficerTrustee | $0 | |
Alexandra Colombos Vice President | OfficerTrustee | $0 | |
Katie Derasse Co-President | OfficerTrustee | $0 | |
Ken Weigand Treasurer | OfficerTrustee | $0 | |
Christina Pullo Secretary | OfficerTrustee | $0 | |
Dina Camera Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $12,994 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $12,994 |
| Total Program Service Revenue | $0 |
| Investment income | $14,973 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $12,998 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $40,965 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $61,645 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,920 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $1,179 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $4,358 |
| All other expenses | $0 |
| Total functional expenses | $79,372 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $223,767 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $346,401 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $570,168 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $570,168 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $570,168 |
Grants Awarded
Over the last fiscal year, Tower Foundation Of Manhasset Inc has awarded $121,989 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
MANHASSET UFSD PURPOSE: 3 School Initiative | $74,696 |
MANHASSET UFSD PURPOSE: Library | $47,293 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Tower Foundation Of Manhasset Inc has recieved totaling $12,306.
| Awarding Organization | Amount |
|---|---|
Goldman Sachs Charitable Gift Fund New York, NY PURPOSE: COMMUNITY OUTREACH & ENRICHMENT PROGRAMS | $10,000 |
Peter & Caroline Striano Foundation Inc new york, NY PURPOSE: GENERAL USE | $2,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $306 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Joy In Childhood Foundation Inc Canton, MA | $7,582,989 | $8,931,292 |
Joint Council For Economic Opportunity Of Clinton & Franklin Plattsburgh, NY | $5,357,972 | $10,698,049 |
Health Management Group Ltd Getzville, NY | $13,266,135 | $8,802,636 |
Roy Lichtenstein Foundation New York, NY | $85,182,586 | $2,378,185 |
Mccance Foundation Tr North Scituate, MA | $91,930,926 | $3,999,038 |
Childrens Dyslexia Centers Inc Lexington, MA | $70,604,540 | $15,265,584 |
North Central Area Agency On Aging Inc Hartford, CT | $1,856,134 | $6,505,484 |
Hampton Classic Horse Show Inc Bridgehampton, NY | $1,702,497 | $4,948,481 |
Peggy Mcgrath Rockefeller Foundation New York, NY | $16,278,993 | $1,905,197 |
Loring Wolcott & Coolidge Charitable Tr - I Boston, MA | $103,000 | $4,276,644 |
Rosenkranz Foundation Inc New York, NY | $20,933,111 | $6,809,267 |
Llewellyn Family Foundation New York, NY | $59,134,047 | $5,278,479 |