The Karmel Family Foundation Inc
- Assets
- $2.9m
- Revenue
- -$85.5k
- Investments
- $2.8m
- Employees
- 0
- Location
- Montebello, NY
- Founding
- 02/2018
- Data as of
- 12/2023
- EIN
- 81-4770533
Organization Overview
The Karmel Family Foundation Inc is located in Montebello, NY. The organization was established in 2018. 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. Karmel 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jacob Karmel President | 1.5 | $0 | |
Malka Karmel Director | 0.5 | $0 | |
Shloime Silbiger Treasurer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $92,337 |
| Dividends & Interest | $37,785 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$364,041 |
| Capital Gain Net Income | $127 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $148,371 |
| Total Revenue | -$85,548 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $37,089 |
| Taxes | $1,930 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $82,383 |
| Total operating and administrative expenses | $124,702 |
| Contributions, gifts, grants paid | $30,000 |
| Total expenses and disbursements | $154,702 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $49,002 |
| 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 | $35,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $2,837,669 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $2,921,671 |
| Accounts payable and accrued expenses | $1,670 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $1,570,629 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $55,060 |
| Total liabilities | $1,627,359 |
Grants Awarded
Over the last fiscal year, The Karmel Family Foundation Inc has awarded $30,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
CONGREGATION KEREN EZRAH INC PURPOSE: CHARITABLE | $10,000 |
ASHAR ADOLPH SCHREIBER HEBREW ACADE PURPOSE: CHARITABLE | $20,000 |