Romete Private Family Foundation Inc
- Assets
- $3.2m
- Revenue
- $236.9k
- Investments
- $3.1m
- Employees
- 0
- Location
- Pennington, NJ
- Founding
- 09/2008
- Data as of
- 07/2023
- EIN
- 26-2381369
Organization Overview
Romete Private Family Foundation Inc is located in Pennington, 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. Romete Private Family 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 07/2023, Romete Private Family Foundation Inc generated $236.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (7.1%) each year. All expenses for the organization totaled $365.2k during the year ending 07/2023. As we would expect to see with falling revenues, expenses have declined by (21.7%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael J Romersa Director | 2 | $0 | |
Martin Festa Director | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $88,279 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $148,669 |
| Capital Gain Net Income | $148,669 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $236,948 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $4,410 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $372 |
| Total operating and administrative expenses | $35,207 |
| Contributions, gifts, grants paid | $330,000 |
| Total expenses and disbursements | $365,207 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,828 |
| Savings and temporary cash investments | $128,406 |
| 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 | $16,946 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $3,228,700 |
| 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, Romete Private Family Foundation Inc has awarded $330,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ST ATHANASIUS ROMAN CATHOLIC PURPOSE: UNRESTRICTED GENERAL | $110,000 |
FUTURES IN EDUCATION ENDOWMENT PURPOSE: UNRESTRICTED GENERAL | $220,000 |