Armellino Family Foundation
- Assets
- $0.0
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 0
- Location
- North Beach, NJ
- Founding
- 09/1988
- Data as of
- 01/2024
- EIN
- 13-3437932
Organization Overview
Armellino Family Foundation is located in North Beach, NJ. The organization was established in 1988. 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. Armellino Family 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 01/2024, Armellino Family Foundation generated $1.1m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 62.7% each year . All expenses for the organization totaled $2.1m during the year ending 01/2024. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Armellino Family Foundation has awarded 25 individual grants totaling $2,482,646. 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
2024
Describe the Organization's Program Activity:
Part 3 - Line 4a
PLEASE NOTE, THE FOUNDATION IS NOT INVOLVED IN ANY DIRECT CHARITABLE ACTIVITIES. ITS PRIMARY PURPOSE IS TO SUPPORT, BY CONTRIBUTIONS, OTHER ORGANIZATIONS EXEMPT UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael R Armellino Trustee | 0 | $0 | |
Steven G Einhorn Trustee | 0 | $0 | |
William J Kealy Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $8 |
| Dividends & Interest | $40,397 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,089,671 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,130,076 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $175 |
| Total operating and administrative expenses | $175 |
| Contributions, gifts, grants paid | $2,126,350 |
| Total expenses and disbursements | $2,126,525 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $0 |
| 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, Armellino Family Foundation has awarded $2,126,350 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
MEMORIAL SLOAN KETTERING PURPOSE: GENERAL SUPPORT | $1,250 |
NEW JERSEY ANGELS PURPOSE: GENERAL SUPPORT | $1,500 |
HACKENSACK MERIDIAN HEALTH PURPOSE: GENERAL SUPPORT | $5,000 |
UNIVERSITY OF PENNSYLVANIA PURPOSE: GENERAL SUPPORT | $2,118,600 |