Grossman Family Charitable Funds Inc
- Assets
- $1.6m
- Revenue
- $142.5k
- Investments
- $958.3k
- Employees
- 0
- Location
- Bethesda, MD
- Founding
- 12/1945
- Data as of
- 12/2021
- EIN
- 13-6091872
Organization Overview
Grossman Family Charitable Funds Inc is located in Bethesda, MD. The organization was established in 1945. 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. Grossman Family Charitable 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 12/2021, Grossman Family Charitable Funds Inc generated $142.5k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 25.3% each year . All expenses for the organization totaled $75.4k during the year ending 12/2021. While expenses have increased by 26.4% per year over the past 4 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 2020, Grossman Family Charitable Funds Inc has awarded 145 individual grants totaling $133,716. 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
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Edward Grossman Director, President, Treasurer | 2 | $0 | |
David Grossman Director, Vice President | 0 | $0 | |
Rochelle Stanfield Director, Secretary | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $91,227 |
| Interest on Savings | $0 |
| Dividends & Interest | $19,616 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $31,678 |
| Capital Gain Net Income | $31,678 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $142,521 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $209 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $465 |
| Total operating and administrative expenses | $2,189 |
| Contributions, gifts, grants paid | $73,226 |
| Total expenses and disbursements | $75,415 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $651,470 |
| 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 | $17,596 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,609,783 |
| 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, Grossman Family Charitable Funds Inc has awarded $73,226 in support to 70 organizations.
| Grant Recipient | Amount |
|---|---|
UJA FEDERATION OF NEW YORK PURPOSE: FOR A COMMUNAL RESPONSE TO POVERTY AND NEED | $10,000 |
NATIONAL PHILHARMONIC PURPOSE: FOR PROMOTING PARTICIPATION OF MINORITY COMMUNITIES IN ORCHESTRAS | $8,705 |
YOUNG ARTISTS OF AMERICA AT STRATHMORE PURPOSE: FOR VIDEO PRODUCTION AND PURCHASE OF EQUIPMENT FOR UNDERSERVED STUDENTS | $5,066 |
North Bethesda, MD PURPOSE: FOR SUPPORT OF OUTREACH TO UNDERSERVED YOUTH IN THE PERFORMING ARTS | $5,000 |
New York, NY PURPOSE: FOR EDUCATION AND TRAINING OF CHORAL CONDUCTORS TO TEACH JEWISH CHORAL MUSIC | $5,000 |
YACHAD PURPOSE: FOR IMPROVING LOW-INCOME HOUSING IN THE GREATER WASHINGTON DC AREA | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Robins Foundation Richmond, VA | $182,936,779 | $19,761,890 |
Jacob And Hilda Blaustein Foundation Inc Baltimore, MD | $130,688,531 | $27,779,767 |
Virginia Institute Of Autism Incorporated Charlottesville, VA | $13,400,970 | $11,731,710 |
Clark-Winchcole Foundation Bethesda, MD | $197,708,650 | $12,024,655 |
Head & Heart Foundation Tr Wilmington, DE | $258,907,072 | $16,871,801 |
The Powder Mill Foundation York, PA | $147,181,195 | $3,651,780 |
Joseph And Marion Wesley Family Foundation Philadelphia, PA | $658,173 | $9,365,078 |
National Minority Quality Forum Inc Washington, DC | $4,852,871 | $11,649,230 |
Arete Foundation Philadelphia, PA | $69,704,325 | $5,927,114 |
Affordable Housing Opportunity Fund Inc Charlottesville, VA | $703,537 | $6,974,715 |
Independence Blue Cross Foundation Philadelphia, PA | $149,853,954 | $24,274,350 |
Robert H Smith Family Foundation Arlington, VA | $10,315,724 | -$3,599,936 |