Gerry Foundation Inc
- Assets
- $111.9m
- Revenue
- $11.1m
- Investments
- $76.0m
- Employees
- 0
- Location
- Liberty, NY
- Founding
- 08/1997
- Data as of
- 12/2021
- 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 12/2021, Gerry Foundation Inc generated $11.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 22.8% each year . All expenses for the organization totaled $8.8m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Gerry Foundation Inc has awarded 709 individual grants totaling $37,244,644. 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:
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, 2021, 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 |
|---|---|---|---|
Denise Frangipane Executive Director | 40 | $142,318 | |
Colleen Emery Project Coordinator | 40 | $86,224 | |
Cory Dame Marketing And Commun | 40 | $67,018 | |
Kathleen Capozzoli Fiscal Manager | 40 | $56,436 | |
Christy Terbush Program Manager | 40 | $52,823 | |
Annelise Gerry Director | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Granite Associates Inc | 12/30/21 | $1,336,718 |
Grant Thornton Llp | 12/30/21 | $51,351 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $538,134 |
| Dividends & Interest | $1,019,293 |
| Net Rental Income | $59,802 |
| Net Gain on Sale of Assets | $9,214,008 |
| Capital Gain Net Income | $9,214,008 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $291,278 |
| Total Revenue | $11,122,515 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $603,828 |
| Pension plans, employee benefits | $151,476 |
| Interest | $94,456 |
| Taxes | $282,414 |
| Depreciation | $209,858 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $15,975 |
| Printing and publications | $0 |
| Other expenses | $1,852,633 |
| Total operating and administrative expenses | $4,651,824 |
| Contributions, gifts, grants paid | $4,132,697 |
| Total expenses and disbursements | $8,784,521 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $140,546 |
| Savings and temporary cash investments | $16,826,645 |
| 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 | $135,782 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $56,025,598 |
| Net Land, buildings, and equipment | $18,823,273 |
| Other assets | $0 |
| Total assets | $111,892,284 |
| Accounts payable and accrued expenses | $125,065 |
| 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 | $125,065 |
Grants Awarded
Over the last fiscal year, Gerry Foundation Inc has awarded $4,132,697 in support to 80 organizations.
| Grant Recipient | Amount |
|---|---|
MEMORIAL SLOAN KETTERING PURPOSE: SUPPORT FOR THE METASTASIS AND TUMOR ECOSYSTEM CENTER | $2,250,000 |
Liberty, NY PURPOSE: TO SUPPORT THE CENTER'S TAX-EXEMPT MISSION OF INSPIRING, EDUCATING, AND EMPOWERING INDIVIDUALS THROUGH THE ARTS AND HUMANITIES. | $1,000,000 |
Liberty, NY PURPOSE: FUNDING FOR PROGRAMS AND PROJECTS THAT FURTHER THE MISSION TO ENHANCE THE OVERALL QUALITY OF LIFE FOR SULLIVAN COUNTY, NY RESIDENTS. | $525,000 |
COMMUNITY FOUNDATION OF ORANGE & SULLIVAN PURPOSE: TO SUPPORT STODDARD FUND | $50,000 |
TOWN OF HIGHLAND PURPOSE: COMMUNITY BEAUTIFICATION PROJECTS | $30,715 |
TOWN OF THOMPSON PURPOSE: COMMUNITY BEAUTIFICATION PROJECTS | $20,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Gerry Foundation Inc has recieved totaling $103,510.
| Awarding Organization | Amount |
|---|---|
Arden Local Development Corporation Middletown, NY PURPOSE: GENERAL SUPPORT | $103,510 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Grace Farms Foundation New Canaan, CT | $127,278,874 | $14,337,032 |
Build Health International Inc Beverly, MA | $9,391,112 | $16,132,621 |
China Medical Board Inc Cambridge, MA | $0 | $15,367,231 |
Rubin Museum Of Art New York, NY | $219,341,965 | $20,862,684 |
Pussycat Foundation New York, NY | $113,070,433 | $12,403,154 |
Tippet Rise Foundation New York, NY | $46,097,612 | $11,599,378 |
Gerry Foundation Inc Liberty, NY | $111,892,284 | $11,122,515 |
Moise Y Safra Foundation Inc New York, NY | $57,760,218 | $6,334,851 |
Rockefeller Archive Center Sleepy Hollow, NY | $198,097,366 | $11,995,066 |
Black River Outdoor Education Program Inc Great Neck, NY | $0 | $235,026 |
Tiger Baron Foundation Inc New York, NY | $135,800,192 | $10,090,454 |
Institute For Aegean Prehistory New York, NY | $0 | $4,040,162 |