Nason Foundation
- Assets
- $6.0m
- Revenue
- $198.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Altoona, PA
- Founding
- 03/1982
- Data as of
- 06/2024
- EIN
- 25-1407194
Organization Overview
Nason Foundation is located in Altoona, PA. The organization was established in 1982. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nason 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 06/2024, Nason Foundation generated $198.6k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 6.1% each year. All expenses for the organization totaled $254.7k during the year ending 06/2024. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Nason Foundation has awarded 33 individual grants totaling $447,397. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT & PROMOTE THE HEALTH AND VITALITY OF OUR LOCAL COMMUNITY THROUGH FINANCIAL SUPPORT AND EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONTRIBUTIONS AND GRANTS RELATED TO HEALTH SERVICES MADE TO COMMUNITY ORGANIZATIONS IN THE HEALTH FIELD. GRANTS INCLUDE FUNDS DISTRIBUTED TO SUPPORT COMMUNITY FIRE COMPANIES, EMS AGENCIES, CARE CENTERS FOR THE ELDERLY, CHURCHES AND SCHOOLS, YMCA'S, COMMUNITY PARKS, COMMUNITY LIBRARIES, HEART ASSOCIATIONS, AND SCHOOL ORGANIZATIONS INCLUDING AN ENDOWMENT FUND TO ST. FRANCIS UNIVERSITY TO FUND SCHOLARSHIPS FOR STUDENTS IN THE MEDICAL FIELD.
SCHOLARSHIPS RELATED TO HEALTH SERVICES MADE TO INDIVIDUALS IN THE HEALTH FIELD. SCHOLARSHIPS INCLUDE NURSING SCHOLARSHIPS TO COMMUNITY MEMBERS BEING EDUCATED IN THE HEALTH FIELD.
COMMUNITY SERVICE AWARDS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
D Stephen Martz Director | Trustee | 1 | $0 |
Douglas E Mingle Vice Chairman | OfficerTrustee | 1 | $0 |
Raymond C Askey Treasurer | OfficerTrustee | 2 | $0 |
Patty Mcgraw Chairperson | OfficerTrustee | 1 | $0 |
Betsy Harmon-Garach Secretary | OfficerTrustee | 1 | $0 |
Earl Springer Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $98,868 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $98,868 |
| Total Program Service Revenue | $0 |
| Investment income | $114,977 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$15,270 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $198,575 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $88,628 |
| Grants and other assistance to domestic individuals. | $99,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $38,950 |
| Fees for services: Legal | -$100 |
| Fees for services: Accounting | $4,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,465 |
| Insurance | $5,499 |
| All other expenses | $0 |
| Total functional expenses | $254,680 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $174,194 |
| Savings and temporary cash investments | $138,712 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $24,590 |
| Investments—publicly traded securities | $5,274,213 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $391,308 |
| Total assets | $6,003,017 |
| Accounts payable and accrued expenses | $11,684 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $11,684 |
| Net assets without donor restrictions | $4,218,413 |
| Net assets with donor restrictions | $1,772,920 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $6,003,017 |
Grants Awarded
Over the last fiscal year, Nason Foundation has awarded $70,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
SOUTHERN ALLEGHENIES EMS COUNCIL PURPOSE: FUNDS ARE USED TO PURCHASE AUTOMATED EXTERNAL DEFIBILLATORS. | $20,000 |
SAINT FRANCIS UNIVERSITY PURPOSE: FUNDS USED FOR A SCHOLARSHIP. | $50,000 |