Sumitomo Corporation Of America Foundation
- Assets
- $11.2m
- Revenue
- $400.8k
- Investments
- $11.2m
- Employees
- 0
- Location
- New York, NY
- Founding
- 03/2005
- Data as of
- 03/2022
- EIN
- 20-2103634
Organization Overview
Sumitomo Corporation Of America Foundation is located in New York, NY. The organization was established in 2005. According to its NTEE Classification (T31) the organization is classified as: Community 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. Sumitomo Corporation Of America 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 03/2022, Sumitomo Corporation Of America Foundation generated $400.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.4%) each year. All expenses for the organization totaled $485.1k during the year ending 03/2022. As we would expect to see with falling revenues, expenses have declined by (1.6%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Sumitomo Corporation Of America Foundation has awarded 191 individual grants totaling $5,142,177. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Hiroyuki Koike President & Director | 0.25 | $0 | |
Yoshiyasu Fuse Treasurer | 0.25 | $0 | |
Elizabeth Peters Secretary, Thru 01/2022 | 0.25 | $0 | |
Timothy E Sander Director | 0.25 | $0 | |
Lewis Farberman Secretary, As Of 02/2022 | 0.25 | $0 | |
Masao Nishizawa Director | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $196,152 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $204,598 |
| Capital Gain Net Income | $204,598 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $400,750 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $9,038 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $3,616 |
| Total operating and administrative expenses | $67,748 |
| Contributions, gifts, grants paid | $417,350 |
| Total expenses and disbursements | $485,098 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,904 |
| Savings and temporary cash investments | $25,012 |
| Net Accounts receivable | $9,042 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $11,229,588 |
| 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, Sumitomo Corporation Of America Foundation has awarded $417,350 in support to 31 organizations.
| Grant Recipient | Amount |
|---|---|
New York, NY PURPOSE: EDUCATIONAL SUPPORT | $200,000 |
JAPAN DAY INC PURPOSE: CULTURAL EDUCATION | $50,000 |
THE METROPOLITAN OPERA PURPOSE: CORPORATE SPONSORSHIP | $15,000 |
LINCOLN CENTER CORPORATE FUND PURPOSE: CORPORATE SPONSORSHIP | $15,000 |
TABLE FOR TWO USA PURPOSE: PROGRAM SUPPORT | $12,350 |
New Rochelle, NY PURPOSE: EDUCATIONAL SUPPORT | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pittsburgh Foundation Pittsburgh, PA | $1,354,368,497 | $110,535,351 |
Hartford Foundation For Public Giving Hartford, CT | $1,125,106,021 | $82,935,365 |
Philadelphia Foundation Philadelphia, PA | $669,216,014 | $72,684,648 |
Community Foundation For Greater Buffalo Inc Buffalo, NY | $874,380,305 | $143,802,626 |
Community Foundation For Greater New Haven New Haven, CT | $745,279,119 | $58,670,540 |
Jewish Community Foundation Of Greater Metrowest Nj Whippany, NJ | $441,552,124 | $46,022,571 |
Federation Of Jewish Communities Of The C I S Inc New York, NY | $45,162,356 | $39,631,208 |
Fairfield Countys Community Foundation Inc Norwalk, CT | $264,164,706 | $42,534,303 |
Vermont Community Foundation Middlebury, VT | $310,876,312 | $39,275,546 |
Rochester Area Community Foundation Rochester, NY | $452,673,006 | $59,557,190 |
Catholic Charities Of Buffalo Buffalo, NY | $41,576,335 | $33,263,179 |
New World Foundation New York, NY | $131,879,332 | $14,635,341 |