Albert & Melissa Sutton Foundation Inc
- Assets
- $5.9m
- Revenue
- $157.8k
- Investments
- $2.4m
- Employees
- 0
- Location
- Sayreville, NJ
- Founding
- 09/2002
- Data as of
- 12/2021
- EIN
- 11-3639224
Organization Overview
Albert & Melissa Sutton Foundation Inc is located in Sayreville, NJ. The organization was established in 2002. 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. Albert & Melissa Sutton 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 12/2021, Albert & Melissa Sutton Foundation Inc generated $157.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (28.4%) each year. All expenses for the organization totaled $926.5k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Albert & Melissa Sutton Foundation Inc has awarded 427 individual grants totaling $4,037,246. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Albert J Sutton Director | 0 | $0 | |
Melissa Sutton Director | 0 | $0 | |
Eileen Sutton Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $12,409 |
| Dividends & Interest | $13,624 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $92,359 |
| Capital Gain Net Income | $92,359 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $39,373 |
| Total Revenue | $157,765 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $10,397 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $81,204 |
| Total operating and administrative expenses | $91,601 |
| Contributions, gifts, grants paid | $834,921 |
| Total expenses and disbursements | $926,522 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,500,892 |
| 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 | $40,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $578,978 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $5,942,317 |
| 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 | $922,297 |
| Total liabilities | $922,297 |
Grants Awarded
Over the last fiscal year, Albert & Melissa Sutton Foundation Inc has awarded $991,630 in support to 96 organizations.
| Grant Recipient | Amount |
|---|---|
BAIS KAILA PURPOSE: UNRESTRICTED | $6,000 |
BAIS YAAKOV HIGH SCHOOL OF LAKEWOOD PURPOSE: UNRESTRICTED | $4,000 |
BET YAAKOV OF THE JERSEY SHORE PURPOSE: UNRESTRICTED | $501 |
BETH JACOB HEBREW TEACHERS COLLEGE PURPOSE: UNRESTRICTED | $22,000 |
BELEV ECHAD PURPOSE: UNRESTRICTED | $1,800 |
BMG STUDENT AID FUND PURPOSE: UNRESTRICTED | $9,000 |