Panasonic Foundation Inc
- Assets
- $10.8m
- Revenue
- $1.8m
- Investments
- $10.5m
- Employees
- 0
- Location
- Newark, NJ
- Founding
- 04/1985
- Data as of
- 12/2021
- EIN
- 22-2548639
Organization Overview
Panasonic Foundation Inc is located in Newark, NJ. The organization was established in 1985. 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. Panasonic Foundation Inc 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, Panasonic Foundation Inc generated $1.8m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 41.3% each year . All expenses for the organization totaled $1.6m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Panasonic Foundation Inc has awarded 24 individual grants totaling $1,910,510. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gordon Kyvik Assistant Treasurer | 1 | $23,650 | |
Juan Otero Director | 1 | $7,500 | |
Andres A Alonso Director | 1 | $7,500 | |
Patricia Gandara Director | 1 | $7,500 | |
Ainissa G Ramirez Director | 1 | $7,500 | |
Myungwon Lee Director & Chairman | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Panasonic Corporation Of North America | 12/30/20 | $289,181 |
Deloitte | 12/30/20 | $137,887 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $608,400 |
| Interest on Savings | $0 |
| Dividends & Interest | $218,506 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $928,755 |
| Capital Gain Net Income | $928,755 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,755,661 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $53,650 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $7,016 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $2,449 |
| Printing and publications | $0 |
| Other expenses | $101,440 |
| Total operating and administrative expenses | $616,289 |
| Contributions, gifts, grants paid | $950,000 |
| Total expenses and disbursements | $1,566,289 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,136 |
| Savings and temporary cash investments | $337,498 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $10,805,232 |
| 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, Panasonic Foundation Inc has awarded $950,000 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
STEM NEXT OPPORTUNITY PURPOSE: GENERAL SUPPORT | $250,000 |
FIRST ROBOTICS PURPOSE: GENERAL SUPPORT | $165,000 |
New Brunswick, NJ PURPOSE: GENERAL SUPPORT | $100,000 |
NJPAC PURPOSE: GENERAL SUPPORT | $100,000 |
Costa Mesa, CA PURPOSE: GENERAL SUPPORT | $100,000 |
GREENLIGHT FOUNDATION PURPOSE: GENERAL SUPPORT | $50,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Panasonic Foundation Inc has recieved totaling $219,120.
| Awarding Organization | Amount |
|---|---|
Sidney E Frank Charitable Foundation Harrison, NY PURPOSE: FOURTH PAYMENT OF A TWO YEAR 2017-19 GRANT TO PROVIDE CONSULTING SERVICES TO THE SAN DIEGO UNIFIED SCHOOL DISTRICT | $219,120 |
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 |