Souchek Foundation Inc
- Assets
- $202.4k
- Revenue
- -$23.9k
- Investments
- $196.3k
- Employees
- 0
- Location
- Manasquan, NJ
- Founding
- 10/2002
- Data as of
- 12/2022
- EIN
- 22-3842273
Organization Overview
Souchek Foundation Inc is located in Manasquan, NJ. The organization was established in 2002. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Souchek 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, Souchek Foundation Inc generated -$23.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (17.2%) each year. All expenses for the organization totaled $25.4k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (13.1%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Souchek Foundation Inc has awarded 50 individual grants totaling $289,139. 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO CHARITABLE ORGANIZATIONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Albert Nitche Trustee | 2 | $0 | |
June Nitche Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $2 |
| Dividends & Interest | $1,547 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$25,403 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | -$23,854 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $26 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $3,150 |
| Total operating and administrative expenses | $5,376 |
| Contributions, gifts, grants paid | $20,000 |
| Total expenses and disbursements | $25,376 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,101 |
| 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 | $202,428 |
| 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, Souchek Foundation Inc has awarded $20,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ARCHDIOCESE OF NEWARK PURPOSE: CONTRIBUTION | $10,000 |
ROSELLE PARK PBA PURPOSE: CONTRIBUTION | $10,000 |