Atlantic Foundation
- Assets
- $52.4m
- Revenue
- $882.6k
- Investments
- $45.2m
- Employees
- 0
- Location
- Hamilton, NJ
- Founding
- 07/1964
- Data as of
- 12/2022
- EIN
- 22-6054882
Organization Overview
Atlantic Foundation is located in Hamilton, NJ. The organization was established in 1964. 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. Atlantic Foundation 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, Atlantic Foundation generated $882.6k 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 (33.5%) each year. All expenses for the organization totaled $8.1m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Atlantic Foundation has awarded 54 individual grants totaling $28,230,578. 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
SUPPORT OF GROUNDS FOR SCULPTURE RELATING TOP THE OPERATIONS OF A SCULPTURE PARK OPEN TO THE PUBLIC. ACTIVITIES INCLUDE PUBLIC TOURS, MEMBERSHIP AND ADMISSIONS PROGRAMS, VARIOUS SCULPTURE RELATED EVENTS, CHILDRENS' PROGRAMS, ARTISTS' LECTURES AND VIEWING OF ARTWORK.
SUPPORT OF THE SEWARD JOHNSON ATELIER, A NONPROFIT ORGANIZATION FORMED FOR THE PURPOSE OF ENHANCING PUBLIC AWARENESS PERTAINING TO THE APPRECIATION OF SCULPTURE THROUGH THE PRODUCTION OF SEVERAL EXHIBITIONS THROUGHOUT THE WORLD AND THE ACQUISITION OF SCULPTURE TO DISPLAY AND EDUCATE THE GENERAL PUVBLIC IN THE ARTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John S Johnson III CEO | 25 | $9,030 | |
Michael Greenleaf Treasurer | 25 | $38,850 | |
Bruce Daniels Facilites Director | 40 | $124,374 | |
Carmella Arnold Senior Accountant | 40 | $61,989 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $37,097 |
| Dividends & Interest | $973,949 |
| Net Rental Income | $12,130 |
| Net Gain on Sale of Assets | -$143,562 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $2,986 |
| Total Revenue | $882,600 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $47,880 |
| Other employee salaries and wages | $200,218 |
| Pension plans, employee benefits | $110,951 |
| Interest | $0 |
| Taxes | $5,815 |
| Depreciation | $262,395 |
| Occupancy | $215,868 |
| Travel, conferences, and meetings | $4,792 |
| Printing and publications | $0 |
| Other expenses | $105,696 |
| Total operating and administrative expenses | $1,304,879 |
| Contributions, gifts, grants paid | $6,844,250 |
| Total expenses and disbursements | $8,149,129 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $195,779 |
| Savings and temporary cash investments | $1,777,420 |
| Net Accounts receivable | $100,109 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $950,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $2,082,598 |
| Investments—mortgage loans | $0 |
| Investments—other | $5,281,184 |
| Net Land, buildings, and equipment | $2,087,233 |
| Other assets | $5,884 |
| Total assets | $52,358,042 |
| Accounts payable and accrued expenses | $143,458 |
| 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 | $125,205 |
| Total liabilities | $268,663 |
Grants Awarded
Over the last fiscal year, Atlantic Foundation has awarded $6,844,250 in support to 16 organizations.
| Grant Recipient | Amount |
|---|---|
GROUNDS FOR SCULPTURE INC PURPOSE: GENERAL OPERATING SUPPORT | $1,150,000 |
THE SEWARD JOHNSON ATELIER INC PURPOSE: GENERAL OPERATING SUPPORT | $2,300,000 |
EYEBEAM ATELIER PURPOSE: GENERAL OPERATING SUPPORT | $550,000 |
HARMONY INSTITUTE PURPOSE: GENERAL OPERATING SUPPORT | $1,798,250 |
IMPACT ASSETS PURPOSE: GENERAL OPERATING SUPPORT | $201,750 |
AMIGOS OF COSTA RICA PURPOSE: GENERAL OPERATING SUPPORT | $180,250 |