Charles Edison Fund
- Assets
- $13.7m
- Revenue
- $1.9m
- Investments
- $12.5m
- Employees
- 0
- Location
- Newark, NJ
- Founding
- 06/1952
- Data as of
- 12/2021
- EIN
- 22-1514861
Organization Overview
Charles Edison Fund is located in Newark, NJ. The organization was established in 1952. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Charles Edison Fund 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, Charles Edison Fund generated $1.9m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $2.6m during the year ending 12/2021. 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
TEACHING KITS PROGRAM - SINCE INCEPTION - 70,000 KITS DISTRIBUTED, 30 MILLION STUDENTS, 82 EXPERIMENTS, GRADES 2 THROUGH 9
ARTIFACTS AND MUSEUMS - 57 MUSEUMS, OVER 8,300 ARTIFACTS
FOR A MORE DETAILED DESCRIPTION FOR ALL THE DIRECT CHARITABLE ACTIVITIES SEE ATTACHED SUMMARY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
J Keegan Pres. Trea. Trt | 35 | $203,000 | |
L Lalicata Curator | 35 | $115,000 | |
Kathleen Gannon Exec. Assist. | 35 | $85,406 | |
Patrick Warren Tech Assist. | 35 | $76,115 | |
Nicole Acosta Assistant | 35 | $67,500 | |
T Ungerland (3)chair-Truste | 20 | $50,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Christiansen Jube & Keegen | 12/30/21 | $92,600 |
Mccarter & English | 12/30/21 | $43,407 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $85 |
| Dividends & Interest | $183,234 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,408,282 |
| Capital Gain Net Income | $1,408,282 |
| Net ST Capital Gain | $1,408,282 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $275,464 |
| Total Revenue | $1,867,065 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $525,440 |
| Other employee salaries and wages | $229,021 |
| Pension plans, employee benefits | $270,573 |
| Interest | $0 |
| Taxes | $67,276 |
| Depreciation | $653 |
| Occupancy | $90,427 |
| Travel, conferences, and meetings | $55,552 |
| Printing and publications | $2,384 |
| Other expenses | $127,059 |
| Total operating and administrative expenses | $1,711,261 |
| Contributions, gifts, grants paid | $853,767 |
| Total expenses and disbursements | $2,565,028 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $81,518 |
| Savings and temporary cash investments | $546,985 |
| 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 | $44,389 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $628 |
| Other assets | $534,160 |
| Total assets | $13,740,314 |
| Accounts payable and accrued expenses | $67,347 |
| Grants payable | $104,515 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $532,105 |
| Total liabilities | $703,967 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
John R Oishei Foundation Buffalo, NY | $294,151,477 | $18,357,929 |
Lor Foundation Inc West Chester, PA | $352,392,197 | $12,888,892 |
Grable Foundation Pittsburgh, PA | $386,701,292 | $35,946,563 |
Connelly Foundation West Conshohocken, PA | $387,913,026 | $27,891,431 |
American Express Foundation New York, NY | $66,234,265 | $62,922,703 |
Essel Foundation Inc Purchase, NY | $100,106,056 | $12,292,478 |
Beth And Ravenel Curry Foundation New York, NY | $0 | $44,744,046 |
Kz Family Foundation New York, NY | $10,936,301 | $30,139,672 |
The Freeman Foundation P-01644-00-7 New York, NY | $343,405,683 | $35,941,951 |
Hearst Foundation Inc New York, NY | $439,249,947 | $42,040,987 |
Bay And Paul Foundations Inc Wilmington, DE | $33,659,644 | $890,121 |
Tansy Charitable Foundation New York, NY | $325,076,608 | $77,631,295 |