Westfield Foundation
- Assets
- $25.5m
- Revenue
- $965.1k
- Investments
- $0.0
- Employees
- 2
- Location
- Westfield, NJ
- Founding
- 07/1977
- Data as of
- 12/2022
- EIN
- 22-2155896
Organization Overview
Westfield Foundation is located in Westfield, NJ. The organization was established in 1977. 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. As of 12/2022, Westfield Foundation employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Westfield 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 12/2022, Westfield Foundation generated $965.1k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $1.2m during the year ending 12/2022. While expenses have increased by 10.7% per year over the past 8 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.
Since 2014, Westfield Foundation has awarded 309 individual grants totaling $2,878,510. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION IS A NOT-FOR-PROFIT ESTABLISHED TO SUPPORT THE PUBLIC WELL-BEING AND IMPROVE THE QUALITY OF LIFE IN THE COMMUNITY. IT ADMINISTERS ENDOWMENT AND OTHER FUNDS ESTABLISHED BY INDIVIDUALS AND ORGANIZATIONS, INVESTS THEM AND MAKES GRANTS TO MEET COMMUNITY NEEDS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MAKES GRANTS TO MEET COMMUNITY NEEDS AND TO IMPROVE THE QUALITY OF LIFE IN THE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Priscilla Mann Office Manager | Officer | 20 | $25,637 |
Gerard Boyle Executive Director | 20 | $15,000 | |
Robert John Board Director | Trustee | 2 | $0 |
Corey Wu-Jung Board Director | Trustee | 2 | $0 |
Nancy Wolf Board Director | Trustee | 2 | $0 |
Michelle Habayeb Board Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $108,722 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $108,722 |
| Total Program Service Revenue | $0 |
| Investment income | $856,348 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $965,070 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $807,063 |
| Grants and other assistance to domestic individuals. | $200,309 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $40,636 |
| Compensation of current officers, directors, key employees. | $8,127 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $3,429 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $86,660 |
| Advertising and promotion | $0 |
| Office expenses | $8,375 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $21,584 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $7,770 |
| All other expenses | $3,399 |
| Total functional expenses | $1,177,586 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,755,009 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $23,755,389 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $27,722 |
| Total assets | $25,538,120 |
| Accounts payable and accrued expenses | $23,968 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,079,899 |
| Total liabilities | $5,103,867 |
| Net assets without donor restrictions | $14,302,319 |
| Net assets with donor restrictions | $6,131,934 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $25,538,120 |
Grants Awarded
Over the last fiscal year, Westfield Foundation has awarded $305,723 in support to 29 organizations.
| Grant Recipient | Amount |
|---|---|
NEW JERSEY FESTIVAL ORCHESTRA PURPOSE: Financial assistance | $10,000 |
JEWISH FAMILY SERVICE PURPOSE: Financial assistance | $30,000 |
UNION COUNTY COLLEGE PURPOSE: Financial assistance | $5,000 |
CONTACT WE CARE PURPOSE: Financial assistance | $8,600 |
YOUTH AND FAMILY COUNSELING SERV PURPOSE: Financial assistance | $7,500 |
CASA OF UNION COUNTY PURPOSE: Financial assistance | $10,000 |