Prosource Foundation Inc
- Assets
- $688.9k
- Revenue
- $21.9k
- Investments
- $664.1k
- Employees
- 0
- Location
- Manasquan, NJ
- Founding
- 04/2002
- Data as of
- 12/2023
- EIN
- 22-3842879
Organization Overview
Prosource Foundation Inc is located in Manasquan, NJ. The organization was established in 2002. 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. Prosource 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, Prosource Foundation Inc generated $21.9k in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (1.9%) each year. All expenses for the organization totaled $56.1k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (8.0%) per year over the past 9 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Prosource Foundation Inc has awarded 57 individual grants totaling $668,661. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Chinery Jr Trustee | 0.5 | $0 | |
Tracy Chinery Trustee | 0.5 | $0 | |
William R Hagaman Jr Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $14,458 |
| Dividends & Interest | $3,774 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $3,705 |
| Capital Gain Net Income | $3,705 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $21,937 |
| 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 | $0 |
| Total operating and administrative expenses | $7,131 |
| Contributions, gifts, grants paid | $49,000 |
| Total expenses and disbursements | $56,131 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $24,775 |
| 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 | $225,359 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $688,888 |
| 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, Prosource Foundation Inc has awarded $49,000 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
FIRST THINGS FIRST - TAX ID #43-1921463 PURPOSE: UNRESTRICTED FOR ORGANIZATION GENERAL PURPOSE | $10,000 |
MONMOUTH UNIVERSITY - TAX ID #21-0634584 PURPOSE: UNRESTRICTED FOR ORGANIZATION GENERAL PURPOSE | $5,000 |
ST ROSE HIGH SCHOOL - TAX ID# 22-3320474 PURPOSE: UNRESTRICTED FOR ORGANIZATION GENERAL PURPOSE | $5,000 |
CARNEGIE HALL PURPOSE: UNRESTRICTED FOR ORGANIZATION GENERAL PURPOSE | $3,000 |
TREASURE HOUSE PURPOSE: UNRESTRICTED FOR ORGANIZATION GENERAL PURPOSE | $20,000 |
OCEAN OF LOVE PURPOSE: UNRESTRICTED FOR ORGANIZATION GENERAL PURPOSE | $1,000 |