The Sorala Foundation
- Assets
- $2.4m
- Revenue
- $507.5k
- Investments
- $1.1m
- Employees
- 0
- Location
- Lakewood, NJ
- Founding
- 08/2005
- Data as of
- 03/2022
- EIN
- 20-6186035
Organization Overview
The Sorala Foundation is located in Lakewood, NJ. The organization was established in 2005. According to its NTEE Classification (T21) the organization is classified as: Corporate 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. Sorala 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, Sorala Foundation generated $507.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (7.1%) each year. All expenses for the organization totaled $422.6k during the year ending 03/2022. As we would expect to see with falling revenues, expenses have declined by (6.4%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Sorala Foundation has awarded 546 individual grants totaling $1,483,158. 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 |
|---|---|---|---|
Ezriel Munk Co-President | 1 | $0 | |
Yaffa Munk Co-President | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $446,623 |
| Interest on Savings | $2,872 |
| Dividends & Interest | $13,100 |
| Net Rental Income | -$10,313 |
| Net Gain on Sale of Assets | $5,526 |
| Capital Gain Net Income | $5,526 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $9,149 |
| Other Income | $30,216 |
| Total Revenue | $507,486 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $10,277 |
| Depreciation | $10,865 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $297 |
| Printing and publications | $0 |
| Other expenses | $4,433 |
| Total operating and administrative expenses | $41,035 |
| Contributions, gifts, grants paid | $381,584 |
| Total expenses and disbursements | $422,619 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $258,701 |
| 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 | $597,487 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $431,231 |
| Investments—mortgage loans | $0 |
| Investments—other | $1,045,000 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $2,420,705 |
| Accounts payable and accrued expenses | $121,700 |
| 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 | $121,700 |
Grants Awarded
Over the last fiscal year, The Sorala Foundation has awarded $381,584 in support to 228 organizations.
| Grant Recipient | Amount |
|---|---|
Far Rockaway, NY PURPOSE: GENERAL AND UNRESTRICTED | $30,000 |
THE DONORS FUND PURPOSE: YAFFA AND EZRIEL MUNK CHARITABLE FUND | $24,500 |
INDIGENT INDIVIDUALS PURPOSE: SHORT-TERM EMERGENCY ASSISTANCE GRANTS TO INDIGENT INDIVIDUALS WHO ARE NOT DISQUALIFIED PERSONS WITH RESPECT TO THE FOUNDATION AND WHO EACH DID NOT RECEIVE MORE THAN $1,000 FROM THE FOUNDATION DURING THE YEAR | $24,136 |
Lakewood, NJ PURPOSE: GENERAL AND UNRESTRICTED | $23,000 |
BONEI OLAM PURPOSE: GENERAL AND UNRESTRICTED | $22,000 |
Brooklyn, NY PURPOSE: GENERAL AND UNRESTRICTED | $12,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that The Sorala Foundation has recieved totaling $88,600.
| Awarding Organization | Amount |
|---|---|
Educational Endowment Fund Inc Lakewood, NJ | | $44,600 |
Chaviva Foundation Far Rockaway, NY PURPOSE: EDUCATE JEWISH CHILDREN IN A SUMMER CAMP SETTING AND AFTER SCHOOL PROGRAM THROUGH INNOVATIVE PROGRAMS. | $44,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Longwood Gardens Inc Kennett Square, PA | $1,437,882,296 | $93,650,257 |
Goldman Sachs Foundation New York, NY | $0 | $131,861,636 |
Commonwealth Fund New York, NY | $0 | $69,444,117 |
Longwood Foundation Inc Wilmington, DE | $0 | $53,076,926 |
The Comcast Nbcuniversal Foundation Philadelphia, PA | $16,720,236 | $25,679,760 |
Clark Foundation New York, NY | $443,485,871 | $14,281,811 |
John A Hartford Foundation New York, NY | $722,012,839 | $47,164,108 |
Blackstone Charitable Foundation New York, NY | $141,651,293 | $22,568,243 |
Interlaken Foundation Inc NEW YORk, NY | $351,082,390 | $62,213,890 |
Verizon Foundation Basking Ridge, NJ | $26,429,657 | $21,584,016 |
Nsn Foundation Inc Roseland, NJ | $55,407,565 | $72,760,212 |
Arconic Charitable Foundation Pittsburgh, PA | $0 | $10,360,918 |