Gerry Foundation Inc
- Assets
- $107.2m
- Revenue
- $6.3m
- Investments
- $83.7m
- Employees
- 0
- Location
- Liberty, NY
- Founding
- 08/1997
- Data as of
- 12/2023
- EIN
- 14-1798234
Organization Overview
Gerry Foundation Inc is located in Liberty, NY. The organization was established in 1997. According to its NTEE Classification (T23) the organization is classified as: Private Operating 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. Gerry 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 12/2023, Gerry Foundation Inc generated $6.3m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 11.4% each year . All expenses for the organization totaled $10.2m during the year ending 12/2023. While expenses have increased by 1.1% per year over the past 8 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 2014, Gerry Foundation Inc has awarded 807 individual grants totaling $45,706,258. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
SULLIVAN RENAISSANCE - PROGRAM INTENDED TO ENHANCE THE APPEARANCE OF SULLIVAN COUNTY WHILE FOSTERING COMMUNITY DEVELOPMENT AND COLLABORATION. SULLIVAN RENAISSANCE IS A BEAUTIFICATION AND COMMUNITY DEVELOPMENT PROGRAM THAT PROVIDES COMMUNITIES IN SULLIVAN COUNTY WITH SEED MONEY FOR BEAUTIFICATION PROJECTS. A LIMITED NUMBER OF PROPOSALS ARE FUNDED EACH YEAR UNDER A COMPETITIVE PROCESS OVERSEEN BY THE SULLIVAN RENAISSANCE PROGRAM. FOR THE MOST PART, THE GERRY FOUNDATION WILL MAKE GRANTS TO 501(C)(3) CHARITIES AND/OTHER ORGANIZATIONS TO FACILITATE THE BEAUTIFICATION PROGRAM; HOWEVER, THE FOUNDATION WILL, AT TIMES, INCUR DIRECT EXPENDITURES RELATED TO THE BEAUTIFICATION PROJECTS. ON PART XV OF THE FORM 990-PF, A VARIETY OF GRANTS ARE LISTED TO ORGANIZATIONS THAT ARE NOT PUBLIC CHARITIES. FOR THE YEAR ENDING DECEMBER 31, 2022, EXPENDITURE RESPONSIBILITY REPORTING WAS MAINTAINED FOR THESE GRANTS, WHICH ARE INCLUDED IN STATEMENT 13.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sandra Gerry Director | 2 | $0 | |
Annelise Gerry Director | 2 | $0 | |
Robyn Gerry Director | 2 | $0 | |
Adam Gerry Director/president | 5 | $0 | |
Peter Racette Asst. Secretary | 5 | $0 | |
Michael Fitzpatrick Secretary | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Granite Associates Inc | 12/30/23 | $1,179,119 |
Grant Thornton Llp | 12/30/23 | $63,192 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $2,982,261 |
| Interest on Savings | $1,225,890 |
| Dividends & Interest | $1,621,800 |
| Net Rental Income | $52,200 |
| Net Gain on Sale of Assets | -$38,112 |
| Capital Gain Net Income | $5,282,860 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $433,968 |
| Total Revenue | $6,278,007 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $286,282 |
| Taxes | $226,933 |
| Depreciation | $206,532 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,657,203 |
| Total operating and administrative expenses | $3,622,594 |
| Contributions, gifts, grants paid | $6,594,276 |
| Total expenses and disbursements | $10,216,870 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $250 |
| Savings and temporary cash investments | $8,817,193 |
| 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 | $148,039 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $60,543,182 |
| Net Land, buildings, and equipment | $14,613,617 |
| Other assets | $0 |
| Total assets | $107,244,998 |
| 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, Gerry Foundation Inc has awarded $6,594,276 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
BETHEL WOODS CENTER FOR THE ARTS PURPOSE: IN JUNE 2023, THE GERRY FOUNDATION CONTRIBUTED LAND TO BETHEL WOODS CENTER FOR THE ARTS, INC. WITH A BOOK VALUE OF $4,096,144. FAIR MARKET VALUE OF THE LAND PER APPRAISALS WAS DETERMINED TO BE $731,000. THE DIFFERENCE BETWEEN THE FAIR MARKET VALUE AND THE FOUNDATION'S BOOK VALUE RESULTED IN A WRITE-DOWN OF $3,365,144. | $731,000 |
CATSKILL ANIMAL RESCUE INC PURPOSE: COMMUNITY BEAUTIFICATION PROJECTS | $512 |
CORNELL UNIVERSITY PURPOSE: SUPPORT FOR THE COLLEGE OF VETERINARY MEDICINE | $30,000 |
FROM ABRAMS CAPITAL PARTNERS II LP (EIN 04-3455023) 2023 K-1 PURPOSE: CHARITABLE CONTRIBUTION PER 2023 K-1 | $21 |
MEMORIAL SLOAN KETTERING PURPOSE: SUPPORT FOR THE METASTASIS AND TUMOR ECOSYSTEM CENTER | $4,000,000 |
NYS TROOPS PBA SIGNAL 30 BENEFIT FUND PURPOSE: SPECIAL EVENT SPONSORSHIP | $10,000 |