Nazem Family Foundation Inc
- Assets
- $761.9k
- Revenue
- $24.4k
- Investments
- $760.1k
- Employees
- 0
- Location
- New York, NY
- Founding
- 02/1996
- Data as of
- 11/2022
- EIN
- 11-3241976
Organization Overview
Nazem Family Foundation Inc is located in New York, NY. The organization was established in 1996. 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. Nazem Family 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 11/2022, Nazem Family Foundation Inc generated $24.4k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 22.2% each year . All expenses for the organization totaled $25.2k during the year ending 11/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Nazem Family Foundation Inc has awarded 58 individual grants totaling $269,050. 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
IDENTIFICATION OF PUBLIC CHARITIES FOR WHICH CONTRIBUTIONS ARE MADE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Fred Nazem President And Director | 1 | $0 | |
Susie Gharib Nazem Treasurer And Director | 2 | $0 | |
Taraneh Nazem Director | 0.25 | $0 | |
Alexander Nazem Director | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $22,970 |
| Capital Gain Net Income | $22,970 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,468 |
| Total Revenue | $24,438 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $178 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $3,178 |
| Contributions, gifts, grants paid | $22,000 |
| Total expenses and disbursements | $25,178 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,888 |
| Savings and temporary cash investments | $0 |
| 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 | $760,057 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $761,945 |
| Accounts payable and accrued expenses | $3,500 |
| Grants payable | $0 |
| Deferred revenue | $15,000 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $18,500 |
Grants Awarded
Over the last fiscal year, Nazem Family Foundation Inc has awarded $22,000 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
Cleveland, OH PURPOSE: FURTHER EDUCATION | $10,000 |
New York, NY PURPOSE: PROMOTE THE ARTS | $2,000 |
ST PAUL'S COLLEGE FOUNDATION PURPOSE: PROMOTE EDUCATION | $1,500 |
Bronx, NY PURPOSE: AID THE HOMELESS | $1,000 |
New York, NY PURPOSE: AID THE HOMELESS | $1,000 |
Boston, MA PURPOSE: PROMOTE THE ARTS | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Richard K Lubin Family Foundation Boston, MA | $152,996,918 | $13,537,947 |
The Selz Foundation New York, NY | $142,395,054 | $24,456,334 |
Rita Allen Foundation Princeton, NJ | $219,012,203 | $23,878,841 |
The Derfner Foundation New York, NY | $158,472,968 | $13,106,656 |
Jill Roberts Charitable Foundation Inc Garden City, NY | $11,485 | $9,710,793 |
James And Merryl Tisch Foundation Inc New York, NY | $1,291,425 | $11,020,609 |
Tortuga Foundation New York, NY | $110,168,381 | $33,186,414 |
The Joseph H Flom Foundation New York, NY | $6,836,169 | $3,314,736 |
The Applebaum Foundation Inc New York, NY | $229,643,281 | $16,929,047 |
Deutsche Bank Americas Foundation New York, NY | $38,867,163 | $11,020,529 |
Charles A Dana Fdn Inc New York, NY | $248,257,333 | $20,769,847 |
The Powder Mill Foundation York, PA | $147,181,195 | $3,651,780 |