Altman Family Foundation Inc
- Assets
- $544.2k
- Revenue
- $245.5k
- Investments
- $125.3k
- Employees
- 0
- Location
- Hackensack, NJ
- Founding
- 06/1995
- Data as of
- 12/2022
- EIN
- 22-3369785
Organization Overview
Altman Family Foundation Inc is located in Hackensack, NJ. The organization was established in 1995. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Altman Family 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 12/2022, Altman Family Foundation Inc generated $245.5k in total revenue. All expenses for the organization totaled $116.3k during the year ending 12/2022. While expenses have increased by 39.3% per year over the past 4 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION WAS FORMED EXCLUSIVELY TO ENGAGE IN SUCH CHARITABLE, RELIGIOUS, SCIENTIFIC, LITERARY AND EDUCATIONAL PURPOSES AS SHALL BE IN THE FURTHERANCE OF THE PUBLIC WELFARE AND SHALL TEND TO PROMOTE THE WELL- BEING OF MANKIND. THE FOUNDATION ALSO PROVIDES HOUSING FOR NUNS WHO ARE MEMBERS OF A LOCAL CHURCH. TO ACCOMPLISH ITS PURPOSE,THE FOUNDATION HAS ACQUIRED AND MAINTAINS A HOUSE. THE NUNS LIVE IN THE HOUSE. THE MAJORITY OF THE FOUNDATION'S EXPENSES ARE INCURRED TO MAINTAIN THE HOUSE. THIS HOUSE WAS SOLD ON OCTOBER 11, 2022. ITS PURPOSE WAS TO HOUSE THE NUNS. PROCEEDS FROM THIS SALE ARE BEING DONATED TO NUMEROUS CHARITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steven Altman Director | 1 | $0 | |
Pamela Sporing Director | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $4,000 |
| Interest on Savings | $740 |
| Dividends & Interest | $3,114 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $237,695 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $245,549 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $6,315 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $10,638 |
| Total operating and administrative expenses | $19,114 |
| Contributions, gifts, grants paid | $97,175 |
| Total expenses and disbursements | $116,289 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $418,978 |
| 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 | $544,236 |
| 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, Altman Family Foundation Inc has awarded $97,175 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
ST CATHERINE OF SIENA CONVENT AND H PURPOSE: HEALTH CENTER UPGRADE | $60,000 |
CAPE CHRISTIAN FELLOWSHIP PURPOSE: HURRICANE RELIEF | $5,000 |
MERCY CHEFS PURPOSE: GENERAL | $5,000 |
FOOD FOR THE POOR PURPOSE: GENERAL | $5,000 |
SAMARITANS PURSE PURPOSE: UKRANIAN RELIEF | $5,000 |
VARIOUS OTHER CHARITIES PURPOSE: GENERAL PURPOSE | $17,175 |