Gerald And Carol Galgano Foundation Inc
- Assets
- $180.7k
- Revenue
- $25.6k
- Investments
- $173.1k
- Employees
- 0
- Location
- Basking Ridge, NJ
- Founding
- 02/2004
- Data as of
- 12/2023
- EIN
- 52-2384603
Organization Overview
Gerald And Carol Galgano Foundation Inc is located in Basking Ridge, NJ. The organization was established in 2004. 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. Gerald And Carol Galgano 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, Gerald And Carol Galgano Foundation Inc generated $25.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (5.9%) each year. All expenses for the organization totaled $117.4k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Gerald And Carol Galgano Foundation Inc has awarded 46 individual grants totaling $670,144. 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 |
|---|---|---|---|
Carol L Galgano Trustee | 1 | $0 | |
Gerald A Galgano Trustee | 1 | $0 | |
Jim Galgano Trustee | 1 | $0 | |
Cheryl Galgano Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $10,000 |
| Interest on Savings | $14 |
| Dividends & Interest | $6,895 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $8,727 |
| Capital Gain Net Income | $8,727 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $25,636 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $3,150 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $2,768 |
| Total operating and administrative expenses | $8,368 |
| Contributions, gifts, grants paid | $109,000 |
| Total expenses and disbursements | $117,368 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,267 |
| Savings and temporary cash investments | $3,302 |
| 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 | $100,885 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $180,696 |
| 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, Gerald And Carol Galgano Foundation Inc has awarded $109,000 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
CARING AT COLUMBIA PURPOSE: CHARITABLE | $15,000 |
CENTO AMICI PURPOSE: EDUCATION | $10,000 |
FACES AT NYU LANGONE HEALTH PURPOSE: CHARITABLE | $10,000 |
HURLEY FAMILY FOUNDATION PURPOSE: CHARITABLE | $1,000 |
MUHLENBERG COLLEGE PURPOSE: EDUCATION | $45,000 |
SUMMIT SPEECH SCHOOL PURPOSE: CHARITABLE | $6,000 |