Canal Society Of New Jersey
- Assets
- $7.0m
- Revenue
- $500.0k
- Investments
- $6.2m
- Employees
- 0
- Location
- Morristown, NJ
- Founding
- 01/1975
- Data as of
- 12/2021
- EIN
- 23-7263028
Organization Overview
Canal Society Of New Jersey is located in Morristown, NJ. The organization was established in 1975. According to its NTEE Classification (A82) the organization is classified as: Historical Societies & Historic Preservation, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Canal Society Of New Jersey 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 12/2021, Canal Society Of New Jersey generated $500.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (22.9%) each year. All expenses for the organization totaled $66.8k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRINTING OF EDUCATIONAL NEWSLETTER AVAILABLE TO THE GENERAL PUBLIC INFORMING OF ACTIVITIES OF THE CANAL SOCIETY AND HISTORICAL FACTS ABOUT THE CANAL SYSTEM IN NJ.
PROVIDING SIGNAGE TO HISTORICAL SITES (BOONTON IRONWORKS) TO ASSIST PUBLIC IN IDENTIFYING ARTIFACTS ON-SITE
STORAGE OF ARTIFACTS TO BE USED FOR EDUCATION OF THE PUBLIC FOR FUTURE USAGES
MAINTENANCE OF CANAL MUSEUM BY PROVIDING EXHIBIT SUPPLIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joe Macasek President | 10 | $0 | |
Bierce Reilly Director | 10 | $0 | |
Judy Keith Director | 10 | $0 | |
Rodney Howarth Director | 10 | $0 | |
Steve Lauf Director | 10 | $0 | |
Carl Loutzenheiser Director | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $27,398 |
| Interest on Savings | $3,695 |
| Dividends & Interest | $21,620 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $255,973 |
| Capital Gain Net Income | $255,973 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $191,343 |
| Total Revenue | $500,029 |
| 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 | $339 |
| Occupancy | $6,821 |
| Travel, conferences, and meetings | $1,045 |
| Printing and publications | $9,371 |
| Other expenses | $23,894 |
| Total operating and administrative expenses | $64,242 |
| Contributions, gifts, grants paid | $2,600 |
| Total expenses and disbursements | $66,842 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17,748 |
| Savings and temporary cash investments | $782,254 |
| 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 | $514 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $1,325 |
| Investments—mortgage loans | $0 |
| Investments—other | $6,208,214 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $7,010,055 |
| Accounts payable and accrued expenses | $6,590 |
| 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 | $6,590 |
Grants Awarded
Over the last fiscal year, Canal Society Of New Jersey has awarded $2,600 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Rocky Hill, NJ PURPOSE: TO FOSTER DONEE PROGRAMS | $2,500 |
LAKE HOPATCONG FOUNDATION PURPOSE: TO FOSTER DONEE PROGRAMS | $100 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Canal Society Of New Jersey has recieved totaling $100.
| Awarding Organization | Amount |
|---|---|
Albemarle Foundation Charlotte, NC PURPOSE: PROGRAM ASSISTANCE | $100 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Buffalo Olmsted Parks Conservancy Inc Buffalo, NY | $5,280,478 | $5,712,316 |
New York Landmarks Conservancy Inc New York, NY | $20,181,669 | $5,556,998 |
Historical Society Of Pennsylvania Philadelphia, PA | $29,519,223 | $5,864,620 |
Bucks County Historical Society Mercer Museum Doylestown, PA | $25,757,784 | $3,151,386 |
Galvan Initiatives Foundation New York, NY | $45,061,487 | $6,375,160 |
Lake George Association Inc Lake George, NY | $20,500,954 | $6,877,319 |
Lancasterhistory Org Lancaster, PA | $21,295,803 | $1,939,476 |
Royal Oak Foundation Inc New York, NY | $7,446,621 | $2,765,681 |
Partners For Sacred Places Inc Philadelphia, PA | $5,285,974 | $2,628,300 |
Historic Morven Inc Princeton, NJ | $24,966,023 | $2,239,709 |
Adirondack Railway Preservation Society Utica, NY | $2,682,180 | $3,406,896 |
Colonial Farmhouse Restoration Society Of Bellerose Inc Floral Park, NY | $3,034,093 | $2,477,433 |