Michele And Agnese Cestone Foundation Inc
- Assets
- $11.5m
- Revenue
- $974.1k
- Investments
- $9.6m
- Employees
- 0
- Location
- Pennington, NJ
- Founding
- 04/1991
- Data as of
- 12/2023
- EIN
- 52-1720903
Organization Overview
Michele And Agnese Cestone Foundation Inc is located in Pennington, NJ. The organization was established in 1991. According to its NTEE Classification (T30) the organization is classified as: Public 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. Michele And Agnese Cestone 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, Michele And Agnese Cestone Foundation Inc generated $974.1k 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 (3.2%) each year. All expenses for the organization totaled $1.2m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Michele And Agnese Cestone Foundation Inc has awarded 160 individual grants totaling $3,949,415. 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 |
|---|---|---|---|
Michele J Cestone Trustee & President | 35 | $75,000 | |
Maria A Cestone Esquire Trustee & Secretary | 1 | $1,000 | |
Dennis Bailey Trustee | 1 | $1,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $487,464 |
| Interest on Savings | $0 |
| Dividends & Interest | $311,878 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $160,322 |
| Capital Gain Net Income | $162,902 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $14,403 |
| Total Revenue | $974,067 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $77,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $6,000 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $7 |
| Total operating and administrative expenses | $230,092 |
| Contributions, gifts, grants paid | $986,500 |
| Total expenses and disbursements | $1,216,592 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,089 |
| Savings and temporary cash investments | $1,796,945 |
| 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 | $150,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $171,725 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $11,549,053 |
| Accounts payable and accrued expenses | $50,000 |
| 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 | $50,000 |
Grants Awarded
Over the last fiscal year, Michele And Agnese Cestone Foundation Inc has awarded $986,500 in support to 38 organizations.
| Grant Recipient | Amount |
|---|---|
ANIMAL MEDICAL CENTER PURPOSE: FRANK V.D. LLOYD FUND FOR GUIDE DOGS | $50,000 |
A PURRFECT WORLD PURPOSE: CARING FOR OUR CATS | $5,000 |
ANIMAL PROTECTION LEAGUE OF NJ PURPOSE: MT. OLIVE TNR PROJEC | $7,000 |
BANGOR HUMANE SOCIETY PURPOSE: ANIMAL CARE AND ADOPTION | $25,000 |
CANINE COMPANIONS FOR INDEPENDENCE PURPOSE: FEEDING & CARE OF SERVICE DOGS | $45,000 |
CANCERCARE PURPOSE: PAW PROGRAM | $5,000 |