I J & Mary Larosa Memorial Foundation Inc
- Assets
- $1.7m
- Revenue
- $38.0k
- Investments
- $1.7m
- Employees
- 0
- Location
- Lincoln Park, NJ
- Founding
- 05/2008
- Data as of
- 12/2023
- EIN
- 26-1938151
Organization Overview
I J & Mary Larosa Memorial Foundation Inc is located in Lincoln Park, NJ. The organization was established in 2008. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. I J & Mary Larosa Memorial 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 12/2023, I J & Mary Larosa Memorial Foundation Inc generated $38.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (3.7%) each year. All expenses for the organization totaled $34.1k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (5.0%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, I J & Mary Larosa Memorial Foundation Inc has awarded 352 individual grants totaling $244,250. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
THERE ARE 48 NOT FOR PROFIT ENTITIES THAT ARE ALL EITHER RELIGIOUS ORGANIZATIONS OR OTHER 501 (C) (3) CHARITIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph I Larosa President, Trustee | 1 | $300 | |
Jack J Larosa Vice President, Trustee | 1 | $300 | |
Richard J Larosa Treasurer, Trustee | 1 | $300 | |
Angela M Larosa Secretary, Trustee | 1 | $300 | |
Gerald A Larosa Director, Trustee | 1 | $300 | |
Christopher A Larosa Director, Trustee | 1 | $300 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $38,049 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $2,434 |
| Net ST Capital Gain | $2,081 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $38,049 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $2,100 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,531 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $158 |
| Printing and publications | $0 |
| Other expenses | $18 |
| Total operating and administrative expenses | $5,087 |
| Contributions, gifts, grants paid | $29,000 |
| Total expenses and disbursements | $34,087 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,254 |
| Savings and temporary cash investments | $42,913 |
| 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 | $551,967 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,732,309 |
| 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, I J & Mary Larosa Memorial Foundation Inc has awarded $29,000 in support to 58 organizations.
| Grant Recipient | Amount |
|---|---|
THE MICHAEL J FOX FOUNDATION FOR PARKINSON'S RESEARCH PURPOSE: FOR THE RESEARCHAND DEVELOPMENT EFFORTSIN FINDING A CURE FOR PARKINSON'S DISEASE | $4,300 |
WOOD-RIDGE MEMORIAL FOUNDATION PURPOSE: DONATION TO THEI.J. LAROSASCHOLARSHIP FUND | $500 |
SHRINER'S HOSPITAL FOR CHILDREN PURPOSE: PROVIDE FOR CONTINUING HOSPITAL CAREFOR CHILDREN | $1,009 |
NEW JERSEY CHRONIC FATIGUE SYNDROM ASSOCIATION INC PURPOSE: DONATION TO THENJ CHRONIC FATIGUERESEARCH FUND | $876 |
MERCY SHIPS PURPOSE: DONATION TO DELICERWORLDCLASS HEALTHCARE TOTHE POOR IN WEST AFRICA. | $125 |
CATCH YOU LATER FOUNDATION PURPOSE: HELPS TOWARDS EDUCATING DRIVERS ON THE RAMIFICATIONS OF DISTRACTED AND IMPAIRED DRIVING. | $140 |