Morace Family Foundation A Nj Nonprofit Corporation
- Assets
- $1.7m
- Revenue
- $1.3m
- Investments
- $1.2m
- Employees
- 0
- Location
- Mahwah, NJ
- Founding
- 02/2008
- Data as of
- 06/2022
- EIN
- 26-1319299
Organization Overview
Morace Family Foundation A Nj Nonprofit Corporation is located in Mahwah, NJ. The organization was established in 2008. According to its NTEE Classification (T30) the organization is classified as: Public 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. Morace Family Foundation A NJ Nonprofit Corporation 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 06/2022, Morace Family Foundation A NJ Nonprofit Corporation generated $1.3m in total revenue. All expenses for the organization totaled $106.4k during the year ending 06/2022. While expenses have increased by 14.1% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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 |
|---|---|---|---|
Barbara Ann Saderman Director | 0 | $0 | |
John Morace Director | 0 | $0 | |
Philip M Morace Director | 5 | $0 | |
Catherine Warnet Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $230,483 |
| Interest on Savings | $0 |
| Dividends & Interest | $22,894 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,055,376 |
| Capital Gain Net Income | $1,055,376 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,308,753 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,248 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $17,118 |
| Total operating and administrative expenses | $18,366 |
| Contributions, gifts, grants paid | $88,054 |
| Total expenses and disbursements | $106,420 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $475,616 |
| 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 | $0 |
| Total assets | $1,666,445 |
| 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 | $641 |
| Total liabilities | $641 |