Gellman Foundation Inc
- Assets
- $2.5m
- Revenue
- $540.8k
- Investments
- $2.1m
- Employees
- 0
- Location
- Cedar Knolls, NJ
- Founding
- 07/2009
- Data as of
- 12/2022
- EIN
- 26-4436349
Organization Overview
Gellman Foundation Inc is located in Cedar Knolls, NJ. The organization was established in 2009. According to its NTEE Classification (T90) the organization is classified as: Named Trusts N.E.C., 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. Gellman 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, Gellman Foundation Inc generated $540.8k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 30.0% each year . All expenses for the organization totaled $672.9k during the year ending 12/2022. While expenses have increased by 15.0% per year over the past 5 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
DISTRIBUTION OF CLOTHING AND NECESSITIES TO PEOPLE LIVING WITHOUT HOMES OR IN SHELTERS IN NJ AND NY AS WELL AS NEEDY IN OTHER SIMILAR CIRCUMSTANCES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frank Keller Trustee | 0 | $0 | |
Frank Pessolano Trustee | 0 | $0 | |
Catherine Gibbons Trustee | 0 | $0 | |
Deborah Campesi Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $427,865 |
| Interest on Savings | $17,667 |
| Dividends & Interest | $38,724 |
| Net Rental Income | $10,386 |
| Net Gain on Sale of Assets | $32,035 |
| Capital Gain Net Income | $32,035 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $345 |
| Total Revenue | $540,836 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $15,776 |
| Pension plans, employee benefits | $0 |
| Interest | $55 |
| Taxes | $4,524 |
| Depreciation | $10,434 |
| Occupancy | $47,431 |
| Travel, conferences, and meetings | $229 |
| Printing and publications | $1,521 |
| Other expenses | $48,285 |
| Total operating and administrative expenses | $153,465 |
| Contributions, gifts, grants paid | $519,393 |
| Total expenses and disbursements | $672,858 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $26,428 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $4,400 |
| 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 | $40,811 |
| Prepaid expenses and deferred charges | $1,000 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $2,146,030 |
| Net Land, buildings, and equipment | $195,316 |
| Other assets | $60,410 |
| Total assets | $2,474,395 |
| Accounts payable and accrued expenses | $16,293 |
| 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 | $3,300 |
| Total liabilities | $19,593 |
Grants Awarded
Over the last fiscal year, Gellman Foundation Inc has awarded $86,561 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
MARKET STREET MISSION PURPOSE: TO DONATE USED ITEMS TO THIER MISSION TO BENEFIT THOSE IN NEED | $3,853 |
ELIZABETH COALITION FOR THE HOMELESS PURPOSE: TO DONATE USED ITEMS TO THEIR MISSION TO BENEFIT THOSE IN NEED | $2,399 |
DRESS FOR SUCCESS PURPOSE: TO DONATE USED ITEMS THAT IS APPROPRIATE TO HELP THOSE IN NEED HAVE THE APPROPRIATE APPAREL TO ENABLE THEM TO FIND JOBS | $4,877 |
BARGAIN BOX PURPOSE: TO DONATE USED ITEMS TO THE ORGANIZATION TO SUPPORT THIER BENEFICIARIES | $8,626 |
ALW CHURCH PURPOSE: TO DONATE USED ITEMS TO THE ORGANIZATION TO SUPPORT THIER BENEFICIARIES | $4,276 |
DISTRIBUTION DIRECTLY TO PEOPLE ON THE STREETS OF NYC PURPOSE: TO PROVIDE USED (DONATED) CLOTHING TO THOSE IN NEED BY GIVING IT DIRECTLY TO THEM | $59,010 |