Hovsep Foundation
- Assets
- $1.1m
- Revenue
- $7.7k
- Investments
- $411.2k
- Employees
- 0
- Location
- Union, NJ
- Founding
- Data as of
- 12/2023
- EIN
- 84-2377028
Organization Overview
Hovsep Foundation is located in Union, NJ. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hovsep 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 12/2023, Hovsep Foundation generated $7.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (70.4%) each year. All expenses for the organization totaled $87.6k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Hovsep Foundation has awarded 18 individual grants totaling $457,600. 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION PROVIDES ASSISTANCE TO PUBLIC CHARITIES
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Errol Karakash Executive Di | 0 | $0 | |
Serge Karakash Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $3,110 |
| Dividends & Interest | $4,557 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $7,667 |
| 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 | $60 |
| Total operating and administrative expenses | $60 |
| Contributions, gifts, grants paid | $87,500 |
| Total expenses and disbursements | $87,560 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $688,281 |
| 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 | $1,099,480 |
| 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, Hovsep Foundation has awarded $87,500 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
TUFENKIAN FOUNDATION PURPOSE: SOCIAL SERVICE | $10,000 |
FUND FOR ARMENIAN RELIEF PURPOSE: SOCIAL SERVICE | $45,000 |
ARMENIAN WOUNDED HEROS PURPOSE: SOCIAL SERVICES | $10,000 |
CONSTANTINOPLE ARMENIAN RELIEF PURPOSE: SOCIAL SERVICES | $20,000 |
TEKEYAN CULTURAL ACCOCIATION INC PURPOSE: SOCIAL SERVICES | $2,500 |