Ballem Family Foundation Inc
- Assets
- $278.3k
- Revenue
- $8.8k
- Investments
- $246.1k
- Employees
- 0
- Location
- N Caldwell, NJ
- Founding
- 10/2014
- Data as of
- 12/2023
- EIN
- 46-4316248
Organization Overview
Ballem Family Foundation Inc is located in N Caldwell, NJ. The organization was established in 2014. 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. Ballem 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 12/2023, Ballem Family Foundation Inc generated $8.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (28.8%) each year. All expenses for the organization totaled $4.4k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (31.8%) per year over the past 5 years. 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 |
|---|---|---|---|
Ramamohanarao V Ballem Presidnet | 0.5 | $0 | |
Aruna Jk Ballem Director | 0.25 | $0 | |
Naveen Ballem Director | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $13 |
| Dividends & Interest | $9,136 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$371 |
| Capital Gain Net Income | $18 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $8,778 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $518 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $780 |
| Total operating and administrative expenses | $1,298 |
| Contributions, gifts, grants paid | $3,135 |
| Total expenses and disbursements | $4,433 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $32,225 |
| 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 | $278,323 |
| 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, Ballem Family Foundation Inc has awarded $3,135 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
ST JUDE'S CHILDREN PURPOSE: CHARITY | $250 |
WORLD VISION PURPOSE: CHARITY | $200 |
BOYS TOWN PURPOSE: CHARITY | $100 |
SHRINERS HOSPITAL FOR CHILDREN PURPOSE: CHARITY | $200 |
KESSLER FOUNDATION PURPOSE: CHARITY | $1,000 |
MOUNT SINAI HEALTH SYSTEM PURPOSE: CHARITY | $1,000 |