Pseg Foundation Inc
- Assets
- $37.0m
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Newark, NJ
- Founding
- 10/1991
- Data as of
- 12/2023
- EIN
- 22-3125880
Organization Overview
Pseg Foundation Inc is located in Newark, NJ. The organization was established in 1991. According to its NTEE Classification (A12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pseg 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 12/2023, Pseg Foundation Inc generated $2.2m 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 (27.5%) each year. All expenses for the organization totaled $9.2m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Pseg Foundation Inc has awarded 1,207 individual grants totaling $35,120,905. 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 |
|---|---|---|---|
Name Not Listed Trustee | 1 | $0 | |
David M Daly Trustee | 1 | $0 | |
Daniel Eichhorn Trustee | 1 | $0 | |
Ralph A Larossa Trustee | 1 | $0 | |
Lynn C Ukejianya 1 | 1 | $0 | |
Clifford Pardo 1 | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $2,159,799 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $2,159,799 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $349,084 |
| Total operating and administrative expenses | $349,084 |
| Contributions, gifts, grants paid | $8,805,374 |
| Total expenses and disbursements | $9,154,458 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $37,026,670 |
| Savings and temporary cash investments | $0 |
| 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 | $37,026,670 |
| Accounts payable and accrued expenses | $1,527,529 |
| Grants payable | $1,645,000 |
| 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 | $3,172,529 |
Grants Awarded
Over the last fiscal year, Pseg Foundation Inc has awarded $8,805,374 in support to 392 organizations.
| Grant Recipient | Amount |
|---|---|
4CS OF PASSAIC COUNTY INC PURPOSE: EXPANDING CHILDCARE ACCESS IN PASSAIC COUNTY NJ | $1,500 |
AKHIL AUTISM FOUNDATION PURPOSE: NEURODIVERSE GARDENERS PROGRAM | $1,500 |
AFRICAN LINK INITIATIVE PURPOSE: AFRICAN LINK INITIATIVE | $1,000 |
ALL THE WAY UP ADULT EDUCATION PURPOSE: EMPOWER ADULT HIGH SCHOOL EQUIVALENCY GED TEST PREP | $1,000 |
AMERICAN NATIONAL RED CROSS & ITS CONSTITUENT CHAPTERS AND BRANCHES PURPOSE: HOME FIRE CAMPAIGN | $100,000 |
AMERICA'S GROW-A-ROW PURPOSE: 2023 FRESH PRODUCE INITIATIVE | $10,000 |