Sam Gorovoy Foundation Inc
- Assets
- $433.8k
- Revenue
- $8.1k
- Investments
- $421.7k
- Employees
- 0
- Location
- Union, NJ
- Founding
- 05/1969
- Data as of
- 06/2023
- EIN
- 23-7010710
Organization Overview
Sam Gorovoy Foundation Inc is located in Union, NJ. The organization was established in 1969. 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. Sam Gorovoy 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 06/2023, Sam Gorovoy Foundation Inc generated $8.1k 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 (26.4%) each year. All expenses for the organization totaled $54.2k during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Gorovoy President | 1 | $4,000 | |
Jerry Gorovoy Vice President | 1 | $4,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $8,102 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $8,102 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $8,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $187 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $100 |
| Total operating and administrative expenses | $14,237 |
| Contributions, gifts, grants paid | $40,000 |
| Total expenses and disbursements | $54,237 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,351 |
| 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 | $9,675 |
| Total assets | $433,754 |
| 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, Sam Gorovoy Foundation Inc has awarded $40,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
LIGHTHOUSE OF SOUTHWEST FLORIDA PURPOSE: CHARITABLE | $10,000 |
LIONS EYE INSTITUTE PURPOSE: CHARITABLE | $10,000 |
FOULDS THEATRE PURPOSE: CHARITABLE | $10,000 |
FLORIDA REPERTORY THEATRE PURPOSE: CHARITABLE | $10,000 |