Caroline & Joseph S Gruss Life Monument Funds Inc
- Assets
- $31.0m
- Revenue
- $261.3k
- Investments
- $270.4k
- Employees
- 26
- Location
- Brooklyn, NY
- Founding
- 06/1991
- Data as of
- 12/2022
- EIN
- 13-3573461
Organization Overview
Caroline & Joseph S Gruss Life Monument Funds Inc is located in Brooklyn, NY. The organization was established in 1991. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Education and related organizations. As of 12/2022, Caroline & Joseph S Gruss Life Monument Funds Inc employed 26 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Caroline & Joseph S Gruss Life Monument Funds 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 12/2022, Caroline & Joseph S Gruss Life Monument Funds Inc generated $261.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (28.7%) each year. All expenses for the organization totaled $8.7m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Caroline & Joseph S Gruss Life Monument Funds Inc has awarded 878 individual grants totaling $47,884,194. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORT JEWISH EDUCATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
BUILDING RENOVATION-FUNDING FOR FIXING HAZARDOUS CONDITIONS IN JEWISH SCHOOLS LOCATED IN NEW YORK CITY AND NEIGHBORING WESTCHESTER, NASSAU AND SUFFOLK COUNTIES. THE PROGRAM ACCEPTED 45 APPLICATIONS SUBMITTED.
SPECIAL INNOVATIVE PROJECTS-THESE PROGRAMS ASSIST STUDENT AS WELL AS JEWISH SCHOOLS.
BUILDING RENOVATION-FUNDING FOR FIXING HAZARDOUS CONDITIONS IN JEWISH SCHOOLS LOCATED IN NEW YORK CITY AND NEIGHBORING WESTCHESTER, NASSAU AND SUFFOLK COUNTIES. THE PROGRAM ACCEPTED 45 APPLICATIONS SUBMITTED.
SPECIAL INNOVATIVE PROJECTS-THESE PROGRAMS ASSIST STUDENT AS WELL AS JEWISH SCHOOLS.
SCHOLARSHIPS FUND-PROVIDE VARIOUS SCHOLARSHIPS TO STUDENTS FOR ACADEMIC STUDES. THE ELEMENTARY SCHOLARSHIP FUND WAS AWARDED TO 370 STUDENTS IN 28 SCHOOLS, 432JEWISH SCHOOLS STUDENTS IN 96 SCHOOLS WERE AWARDED. IN ADDITION, 10 SCHOLARHIPS WERE AWARDED TO STUDENTS ATTENDING FASHION INSTITUTE OF TECHNOLOGY.
SCHOLARSHIPS FUND-PROVIDE VARIOUS SCHOLARSHIPS TO STUDENTS FOR ACADEMIC STUDES. THE ELEMENTARY SCHOLARSHIP FUND WAS AWARDED TO 370 STUDENTS IN 28 SCHOOLS, 432JEWISH SCHOOLS STUDENTS IN 96 SCHOOLS WERE AWARDED. IN ADDITION, 10 SCHOLARHIPS WERE AWARDED TO STUDENTS ATTENDING FASHION INSTITUTE OF TECHNOLOGY.
MEDICAL PENSION AND LIFE INSURANCE BENEFIT PROGRAM-PROVIDE SUPPLEMENTAL HEALTH, LIFE INSURANCE AND PENSION PREMIUMS OF CAREER EDUCATORS AT JEWISH DAY SCHOOLS IN THE NEW YORK METROPOLITAN AREA. 1,957 EDUCATORS RECEIVED MEDICAL BENEFITS AND 1,153 RECEIVED PENSION BENEFITS FROM THIS PROGRAM. 6,582 EDUCATORS RECEIVED LIFE INSURANCE BENEFITS.
MEDICAL PENSION AND LIFE INSURANCE BENEFIT PROGRAM-PROVIDE SUPPLEMENTAL HEALTH, LIFE INSURANCE AND PENSION PREMIUMS OF CAREER EDUCATORS AT JEWISH DAY SCHOOLS IN THE NEW YORK METROPOLITAN AREA. 1,957 EDUCATORS RECEIVED MEDICAL BENEFITS AND 1,153 RECEIVED PENSION BENEFITS FROM THIS PROGRAM. 6,582 EDUCATORS RECEIVED LIFE INSURANCE BENEFITS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jason Cury President | OfficerTrustee | 28 | $449,742 |
Martin Gruss Chairman | OfficerTrustee | 0.65 | $0 |
Mathew Maryles Treasurer | OfficerTrustee | 0.5 | $0 |
Lillian Eisman Secretary | OfficerTrustee | 0.5 | $0 |
Dr Alisa Doctorff Board Member | Trustee | 0.5 | $0 |
Eric Goldstein Board Member | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $801,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $801,000 |
| Total Program Service Revenue | $0 |
| Investment income | $52,162 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $144,766 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $261,332 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $6,718,694 |
| 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. | $449,742 |
| Compensation of current officers, directors, key employees. | $314,819 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $480,179 |
| Pension plan accruals and contributions | $38,340 |
| Other employee benefits | $161,431 |
| Payroll taxes | $54,845 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $226,826 |
| Fees for services: Accounting | $85,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $73,144 |
| Advertising and promotion | $0 |
| Office expenses | $715 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $186,522 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $26,093 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $39,821 |
| All other expenses | $0 |
| Total functional expenses | $8,662,798 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $334,378 |
| Savings and temporary cash investments | $279,774 |
| 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 | $179,322 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $29,026,058 |
| Investments—other securities | $270,415 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $903,229 |
| Total assets | $30,993,176 |
| Accounts payable and accrued expenses | $337,678 |
| Grants payable | $4,446,390 |
| Deferred revenue | $207,665 |
| 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 | $4,784,068 |
| Net assets without donor restrictions | -$5,197,136 |
| Net assets with donor restrictions | $31,406,244 |
| 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 | $30,993,176 |
Grants Awarded
Over the last fiscal year, Caroline & Joseph S Gruss Life Monument Funds Inc has awarded $8,334,122 in support to 120 organizations.
| Grant Recipient | Amount |
|---|---|
ABRAHAM JOSHUA HERSCHEL SCHOO PURPOSE: BUILDING RENO.,LIFE INS., SCHOLARSHIPS | $88,009 |
ASSOCIATED BETH RIVKAH SCHOOL PURPOSE: BUILDING RENO.,LIFE INS., SCHOLARSHIPS | $8,677 |
BAIS YAAKOV ACADEMY OF BROOKLYN PURPOSE: BUILDING RENO.,LIFE INS., SCHOLARSHIPS | $101,331 |
BEER HAGOLAH INSTITUTE PURPOSE: BUILDING RENO.,LIFE INS., SCHOLARSHIPS | $302,224 |
BNOS MENACHEM PURPOSE: BUILDING RENO.,LIFE INS., SCHOLARSHIPS | $267,687 |
BETH JACOB DAY SCHOOL PURPOSE: BUILDING RENO.,LIFE INS., SCHOLARSHIPS | $13,356 |