Armadas Foundation
- Assets
- $56.1m
- Revenue
- $39.4m
- Investments
- $56.1m
- Employees
- 0
- Location
- Flushing, NY
- Founding
- 11/2002
- Data as of
- 09/2021
- EIN
- 16-1622664
Organization Overview
Armadas Foundation is located in Flushing, NY. The organization was established in 2002. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Armadas 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 09/2021, Armadas Foundation generated $39.4m in total revenue. All expenses for the organization totaled $6.3m during the year ending 09/2021. While expenses have increased by 222.0% per year over the past 5 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS PAID AND OPERATING COSTS. NO OTHER CHARITABLE ACTIVITES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Kirschner President/director | 0.5 | $0 | |
Rachelle Kirschner Treasurer/director | 0.5 | $0 | |
Stanley Fleishman Secretary/director | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $37,500,750 |
| Interest on Savings | $2,019 |
| Dividends & Interest | $571,300 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,359,942 |
| Capital Gain Net Income | $1,359,942 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $39,434,011 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $134 |
| Taxes | $16,765 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $102,789 |
| Total operating and administrative expenses | $119,688 |
| Contributions, gifts, grants paid | $6,200,000 |
| Total expenses and disbursements | $6,319,688 |
| 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 | $56,087,836 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $56,087,836 |
| 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 | $3,904 |
| Total liabilities | $3,904 |
Grants Awarded
Over the last fiscal year, Armadas Foundation has awarded $15,012 in support to 139 organizations.
| Grant Recipient | Amount |
|---|---|
CONG ICHUD HAYESHIVOS PURPOSE: RELIGIOUS EDUCATION | $360 |
CONG BAIS YSEF D ULEM PURPOSE: TEMPLE/SYNAGOGUE | $350 |
BAIS MEDRASH TAHAROS PURPOSE: RELIGIOUS EDUCATION | $250 |
BMKGH PURPOSE: TEMPLE/SYNAGOGUE | $250 |
BAIS MEDRASH TAHAROS PURPOSE: RELIGIOUS EDUCATION | $250 |
BY QUEESN PURPOSE: RELIGIOUS EDUCATION | $250 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Redhill Foundation-Sam And Jean Rothberg Family Charitable Trust New York, NY | $42,979,654 | $7,387,635 |
Stadler Family Charitable Foundation Inc Titusville, NJ | $29,757,304 | $26,067,204 |
Robert W Wilson Charitable Tr New York, NY | $246,803,641 | $15,248,568 |
The Zegar Family Foundation New York, NY | $255,794,688 | $35,430,517 |
Lenfest Foundation Inc Philadelphia, PA | $0 | $560,962 |
The Blackrock Charitable Foundation New York, NY | $304,949,202 | $10,722,340 |
High Meadows Foundation Boston, MA | $7,499,132 | $11,021,494 |
Zankel Fund New York, NY | $8,426,526 | $6,600,017 |
Synchrony Foundation Stamford, CT | $74,474,766 | $12,637,293 |
Gavin Foundation Inc South Boston, MA | $19,688,054 | $21,343,242 |
Jp Fletcher Foundation Inc Cambridge, MA | $29,829,221 | -$3,521,275 |
Estee Lauder Companies Charitable Foundation New York, NY | $35,974,866 | $21,957,506 |