Schumann Fund For New Jersey Inc
- Assets
- $30.2m
- Revenue
- $1.8m
- Investments
- $29.7m
- Employees
- 0
- Location
- Montclair, NJ
- Founding
- 03/1988
- Data as of
- 12/2022
- EIN
- 52-1556076
Organization Overview
Schumann Fund For New Jersey Inc is located in Montclair, NJ. The organization was established in 1988. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Schumann Fund For New Jersey 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, Schumann Fund For New Jersey Inc generated $1.8m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 15.5% each year . All expenses for the organization totaled $2.4m during the year ending 12/2022. While expenses have increased by 22.1% per year over the past 4 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.
Since 2019, Schumann Fund For New Jersey Inc has awarded 169 individual grants totaling $3,948,250. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Barbara Bell Coleman Chair | 3 | $0 | |
Martha Bonsal Day Vice Chair | 2 | $0 | |
Roger Pratt Secretary/treasurer | 1 | $0 | |
Anthony Cicatiello Trustee | 1 | $0 | |
Christopher Daggett Trustee | 1 | $0 | |
Leonard S Coleman Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $11,910 |
| Dividends & Interest | $560,844 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,146,906 |
| Capital Gain Net Income | $1,136,282 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $54,698 |
| Total Revenue | $1,774,358 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $286,552 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $68,340 |
| Interest | $137 |
| Taxes | $28,308 |
| Depreciation | $0 |
| Occupancy | $27,479 |
| Travel, conferences, and meetings | $13,812 |
| Printing and publications | $0 |
| Other expenses | $30,380 |
| Total operating and administrative expenses | $822,730 |
| Contributions, gifts, grants paid | $1,574,000 |
| Total expenses and disbursements | $2,396,730 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $404,379 |
| Net Accounts receivable | $4,231 |
| 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 | $3,966 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $16,846,057 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $63,660 |
| Total assets | $30,163,957 |
| Accounts payable and accrued expenses | $11,238 |
| Grants payable | $30,000 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $121,950 |
| Total liabilities | $163,188 |
Grants Awarded
Over the last fiscal year, Schumann Fund For New Jersey Inc has awarded $1,574,000 in support to 51 organizations.
| Grant Recipient | Amount |
|---|---|
CLINTON HILL COMMUNITY ACTION PURPOSE: OPERARATING SUPPORT | $75,000 |
COVENANT HOUSE NEW JERSEY PURPOSE: PROGRAM/PROJECT SUPPORT - YOUTH CASE MANAGEMENT SERVICES AT CHNJS NEWARK CRISIS CENTER | $25,000 |
FAMILY PROMISE OF ESSEX COUNTY PURPOSE: OPERATING SUPPORT | $30,000 |
HABITAT FOR HUMANITY NEWARK OF GREATER NEWARK PURPOSE: OPERATING SUPPORT | $20,000 |
MEETING ESSENTIAL NEEDS WITH DIGNITY (MEND) PURPOSE: PROGRAM/PROJECT SUPPORT - MEND ON THE MOVE PROGRAM | $25,000 |
MONARCH HOUSING ASSOCIATES PURPOSE: PROGRAM/PROJECT SUPPORT - DEVELOP A STRATEGIC PLAN TO END HOMELESSNESS IN MONTCLAIR | $7,000 |