I J & Mary Larosa Memorial Foundation Inc
- Assets
- $1.6m
- Revenue
- $62.4k
- Investments
- $1.6m
- Employees
- 0
- Location
- Lincoln Park, NJ
- Founding
- 05/2008
- Data as of
- 12/2022
- 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 12/2022, I J & Mary Larosa Memorial Foundation Inc generated $62.4k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $34.8k during the year ending 12/2022. 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 294 individual grants totaling $215,250. 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
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
THERE ARE 56 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 | |
Richard J Larosa Treasurer, Trustee | 1 | $300 | |
Jack J Larosa Vice President, 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 | $40,589 |
| Dividends & Interest | $21,828 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $98,966 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $62,417 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $1,800 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,461 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $36 |
| Total operating and administrative expenses | $4,247 |
| Contributions, gifts, grants paid | $30,600 |
| Total expenses and disbursements | $34,847 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $588 |
| Savings and temporary cash investments | $45,341 |
| 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 | $824,431 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,601,417 |
| 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 $30,600 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 | $3,400 |
Trenton, NJ PURPOSE: DONATION TO SUPPORTTHE FINANCIAL NEEDSOF MILLHILL CHILD AND FAMILY DEVELOPMENT. | $1,800 |
Westport, CT PURPOSE: TO HELP IN THEIR MISSIONTO PROVIDE BEREAVEMENT SUPPORTYEAR ROUND TO TEENAGERS | $1,125 |
DIABETES ACTION AND RESEARCH PURPOSE: TO HELP SUPPORTDIABETES RESEARCH | $900 |
New York, NY PURPOSE: TO FUND CANCERRESEARCH IMMUNOTHERAPY | $900 |
New York, NY PURPOSE: TO PROVIDE OPTIMALCARE TO THOSE CONFRONTINGDIMENTIA | $900 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Healthcare Foundation Of New Jersey Inc Millburn, NJ | $201,281,752 | $11,925,991 |
Tr Ua 06162003 New York, NY | $24,153,189 | $17,543,623 |
Linlundh Foundation Huntingdon Valley, PA | $26,974,319 | $5,576,892 |
Hamilton Family Charitable Trust Wayne, PA | $141,914,105 | $43,786,350 |
Daniel B And Florence E Green Foundation Conshohocken, PA | $179,390,509 | $18,946,870 |
Price Family Foundation Inc New York, NY | $4,922,654 | $6,599,359 |
Seed The Dream Foundation Gladwyne, PA | $47,208,358 | $1,088,502 |
Vf Foundation Wilmington, DE | $28,556,217 | $960,441 |
Ruth Lilly Philanthropic Foundation Wilmington, DE | $89,481,864 | $12,222,478 |
Virginia B Toulmin Charitable Foundation Iii 20-102080246164 New York, NY | $0 | $3,507,979 |
Foundation For Excellence In Higher Education Inc Princeton, NJ | $10,905,740 | $10,645,198 |
Margaret A Nagel Tr Uw Art 2 Jericho, NY | $960,283 | $58,879 |