Arnold Foundation Inc
- Assets
- $1.5m
- Revenue
- -$3.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Roseland, NJ
- Founding
- 03/2005
- Data as of
- 11/2023
- EIN
- 22-3885473
Organization Overview
Arnold Foundation Inc is located in Roseland, NJ. The organization was established in 2005. According to its NTEE Classification (T21) the organization is classified as: Corporate 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. Arnold 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kenneth J Slutsky President | 0.1 | $0 | |
Michael N Gooen Vp/secretary/asst. Treas. | 0.1 | $0 | |
John L Berger Vp/treasurer/asst. Secty. | 0.1 | $0 | |
Erica Enterprises Llc Member | 0.2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $770,000 |
| Interest on Savings | $55,975 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$4,686,975 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | -$3,861,000 |
| 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 | $834,103 |
| Occupancy | $490,684 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $9,995 |
| Total operating and administrative expenses | $1,334,782 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $1,334,782 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,249,363 |
| 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 | $211,362 |
| Other assets | $20,200 |
| Total assets | $1,480,925 |
| 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, Arnold Foundation Inc has awarded $358,173 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
FIDELITY CHARITABLE GIFT FUND PURPOSE: FOR THE GENERAL FUND OF THE CHARITY | $110,000 |
WELLSPRING PHILANTHROPIC FUND INC PURPOSE: UNDER GRANT AGREEMENT DATED 11/14/22, ARNOLD FOUNDATION (THE "FOUNDATION") GRANTED TO WPF THE FOUNDATION'S RIGHTS TO A SECURITY DEPOSIT OF $248,173 (THE "SECURITY DEPOSIT") FOR THE LEASE OF THE OFFICE SPACE AT 1441 BROADWAY, SUITE 1600, NEW YORK, NY (THE "PREMISES") HELD BY THE LANDLORD OF THE PREMISES. THE GRANT WAS MADE BECAUSE THE PREMISES, WHICH THE FOUNDATION PREVIOUSLY HAD LEASED AND ALLOWED WPF TO USE FOR ITS CHARITABLE PURPOSES RENT-FREE, WOULD NOW BE LEASED BY WPF, ENTITLING THE FOUNDATION TO A RETURN OF THE SECURITY DEPOSIT AND OBLIGATING WPF TO FURNISH A SECURITY DEPOSIT. THE GRANT WAS MADE TO FACILITATE WPF'S CHARITABLE ACTIVITIES BY ASSISTING WPF IN LEASING THE PREMISES TO CONTINUE HOUSING THE STAFF WHO CONDUCT THOSE ACTIVITIES. WPF MUST USE THE SECURITY DEPOSIT (VIA ITS USE OF THE PREMISES) SOLELY TO FURTHER ITS CHARITABLE PURPOSES OF MAKING GRANTS TO OTHER CODE SECTION 501(C)(3) ORGANIZATIONS FOR RELIGIOUS, CHARITABLE, SCIENTIFIC, LITERARY, AND EDUCATIONAL PURPOSES. | $248,173 |