Isermann Family Foundation
- Assets
- $6.2m
- Revenue
- $110.5k
- Investments
- $5.5m
- Employees
- 0
- Location
- Morristown, NJ
- Founding
- 07/1985
- Data as of
- 12/2022
- EIN
- 22-2615361
Organization Overview
Isermann Family Foundation is located in Morristown, 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. Isermann Family 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, Isermann Family Foundation generated $110.5k 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 (26.5%) each year. All expenses for the organization totaled $762.3k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Isermann Family Foundation has awarded 158 individual grants totaling $3,626,000. 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 |
|---|---|---|---|
Gene R Korf Secy. | 1 | $15,000 | |
Scott Korf Trustee | 1 | $15,000 | |
Neil Korf Trustee | 1 | $15,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $16,271 |
| Dividends & Interest | $101,092 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$6,852 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $110,511 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $45,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $314 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $42,954 |
| Total operating and administrative expenses | $100,305 |
| Contributions, gifts, grants paid | $662,000 |
| Total expenses and disbursements | $762,305 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $623,268 |
| 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 | $6,155,663 |
| 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, Isermann Family Foundation has awarded $662,000 in support to 31 organizations.
| Grant Recipient | Amount |
|---|---|
ADRIENNE ARSHT CENTER TRUST PURPOSE: GENERAL CHARITABLE SUPPORT | $10,000 |
ALL FAITHS FOOD BANK PURPOSE: GENERAL CHARITABLE SUPPORT | $20,000 |
AVIVA JEWISH HOUSING FOUNDATION PURPOSE: GENERAL CHARITABLE SUPPORT | $20,000 |
CENTRAL FLORDIA ZOO & BOTANICAL GARDENS PURPOSE: GENERAL CHARITABLE SUPPORT | $10,000 |
DR PHILLIPS CENTER FOR THE PERFORMING ARTS PURPOSE: GENERAL CHARITABLE SUPPORT | $15,000 |
FOSTERING GREAT IDEAS PURPOSE: GENERAL CHARITABLE SUPPORT | $15,000 |