Marc A Somberg Memorial Foundation
- Assets
- $301.1k
- Revenue
- $35.0k
- Investments
- $298.5k
- Employees
- 0
- Location
- Pittsburgh, PA
- Founding
- 05/1996
- Data as of
- 12/2022
- EIN
- 11-3295557
Organization Overview
Marc A Somberg Memorial Foundation is located in Pittsburgh, PA. The organization was established in 1996. According to its NTEE Classification (P80) the organization is classified as: Centers to Support the Independence of Specific Populations, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Marc A Somberg 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 12/2022, Marc A Somberg Memorial Foundation generated $35.0k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 24.6% each year . All expenses for the organization totaled $22.8k during the year ending 12/2022. While expenses have increased by 4.2% per year over the past 7 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 2016, Marc A Somberg Memorial Foundation has awarded 41 individual grants totaling $166,500. 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 |
|---|---|---|---|
Andrea Somberg Trustee | 0.5 | $0 | |
David Somberg Trustee | 0.5 | $0 | |
Emily Hopper Trustee | 0.5 | $0 | |
Jennifer Bernier Trustee | 0.5 | $0 | |
Rachel Nilsen Trustee | 0.5 | $0 | |
Matthew Somberg Trustee | 0.5 | $3,052 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $250 |
| Interest on Savings | $18 |
| Dividends & Interest | $6,018 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $28,696 |
| Capital Gain Net Income | $28,696 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $34,982 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $3,052 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $405 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $100 |
| Total operating and administrative expenses | $4,782 |
| Contributions, gifts, grants paid | $18,000 |
| Total expenses and disbursements | $22,782 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,633 |
| 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 | $298,463 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $301,096 |
| 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, Marc A Somberg Memorial Foundation has awarded $18,000 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
A MOTHER'S KISS PURPOSE: UNRESTRICTED GENERAL SUPPORT | $3,000 |
CT CHILDREN'S MEDICAL CENTER PURPOSE: UNRESTRICTED GENERAL SUPPORT | $3,000 |
KIDS CANCER FOUNDATION INC PURPOSE: UNRESTRICTED GENERAL SUPPORT | $3,000 |
NATICK SERVICE COUNCIL INC PURPOSE: UNRESTRICTED GENERAL SUPPORT | $500 |
PRONTO OF LONG ISLAND PURPOSE: UNRESTRICTED GENERAL SUPPORT | $3,000 |
SANDY HOOK PROMISE FOUNDATION PURPOSE: UNRESTRICTED GENERAL SUPPORT | $2,500 |