Altman Family Foundation Inc
- Assets
- $380.3k
- Revenue
- $24.6k
- Investments
- $180.3k
- Employees
- 0
- Location
- Hackensack, NJ
- Founding
- 06/1995
- Data as of
- 12/2021
- 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 12/2021, Altman Family Foundation Inc generated $24.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (21.1%) each year. All expenses for the organization totaled $16.8k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (40.2%) per year over the past 4 years. 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
2021
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steven Altman Director | 0 | $0 | |
Pamela Sporing Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $5,500 |
| Interest on Savings | $1 |
| Dividends & Interest | $1,911 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $17,184 |
| Capital Gain Net Income | $17,184 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $24,596 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $7,954 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $6,662 |
| Total operating and administrative expenses | $16,766 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $16,766 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $23,588 |
| 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 | $176,405 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $380,254 |
| 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 $10,350 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
THE WILD ANIMAL SANCTUARY PURPOSE: DONATION | $10,000 |
Kanab, UT PURPOSE: DONATION | $350 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Healthcare Foundation Of New Jersey Inc Millburn, NJ | $201,281,752 | $11,925,991 |
Tr Ua 06162003 New York, NY | $24,153,189 | $17,543,623 |
Linlundh Foundation Huntingdon Valley, PA | $26,974,319 | $5,576,892 |
Hamilton Family Charitable Trust Wayne, PA | $141,914,105 | $43,786,350 |
Daniel B And Florence E Green Foundation Conshohocken, PA | $179,390,509 | $18,946,870 |
Price Family Foundation Inc New York, NY | $4,922,654 | $6,599,359 |
Seed The Dream Foundation Gladwyne, PA | $47,208,358 | $1,088,502 |
Vf Foundation Wilmington, DE | $28,556,217 | $960,441 |
Ruth Lilly Philanthropic Foundation Wilmington, DE | $89,481,864 | $12,222,478 |
Virginia B Toulmin Charitable Foundation Iii 20-102080246164 New York, NY | $0 | $3,507,979 |
Foundation For Excellence In Higher Education Inc Princeton, NJ | $10,905,740 | $10,645,198 |
Margaret A Nagel Tr Uw Art 2 Jericho, NY | $960,283 | $58,879 |