Granit Foundation
- Assets
- $629.6k
- Revenue
- $124.3k
- Investments
- $597.0k
- Employees
- 0
- Location
- Brooklyn, NY
- Founding
- 01/2003
- Data as of
- 06/2023
- EIN
- 52-2366802
Organization Overview
Granit Foundation is located in Brooklyn, NY. The organization was established in 2003. 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. Granit Foundation 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 06/2023, Granit Foundation generated $124.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (24.7%) each year. All expenses for the organization totaled $258.7k during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Granit Foundation has awarded 225 individual grants totaling $587,963. 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 |
|---|---|---|---|
Mark Wertenteil Trustee | 2 | $0 | |
Ilana Wertenteil Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $100,000 |
| Interest on Savings | $447 |
| Dividends & Interest | $24,554 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$706 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $124,295 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $0 |
| Contributions, gifts, grants paid | $258,671 |
| Total expenses and disbursements | $258,671 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $32,529 |
| 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 | $629,553 |
| 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, Granit Foundation has awarded $258,671 in support to 87 organizations.
| Grant Recipient | Amount |
|---|---|
A TIME PURPOSE: GENERAL | $298 |
AISH HATORAH PURPOSE: GENERAL | $180 |
ALEPHBETA ACADEMY PURPOSE: GENERAL | $90 |
AMERICAN FRIENDS OF BEIT OROT PURPOSE: GENERAL | $180 |
AMERICAN FRIENDS OF AYLN HOSPITAL PURPOSE: GENERAL | $56 |
AMERICAN FRIENDS OF MAGEN DAVID ADOM PURPOSE: GENERAL | $100 |