Hovsep Foundation
- Assets
- $1.1m
- Revenue
- $5.3k
- Investments
- $377.3k
- Employees
- 0
- Location
- Union, NJ
- Founding
- Data as of
- 12/2022
- 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 12/2022, Hovsep Foundation generated $5.3k in total revenue. All expenses for the organization totaled $75.1k during the year ending 12/2022.
Since 2020, Hovsep Foundation has awarded 15 individual grants totaling $400,100. 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
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION PROVIDES ASSISTANCE TO PUBLIC CHARITIES
THE FOUNDATION PROVIDES ASSISTANCE TO PUBLIC CHARITIES
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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 | $1,056 |
| Dividends & Interest | $4,237 |
| 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 | $5,293 |
| 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 | $75 |
| Total operating and administrative expenses | $75 |
| Contributions, gifts, grants paid | $75,000 |
| Total expenses and disbursements | $75,075 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | -$2 |
| Savings and temporary cash investments | $707,224 |
| 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 | $1,084,520 |
| 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 $75,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
New York, NY PURPOSE: SOCIAL SERVICE | $50,000 |
TUFENKIAN FOUNDATION PURPOSE: SOCIAL SERVICE | $15,000 |
Sutton, MA PURPOSE: SOCIAL SERVICES | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Maria L Varisco-Rogers Charter School Newark, NJ | $5,290,053 | $11,323,219 |
Caravel Academy Inc Bear, DE | $15,134,520 | $11,726,062 |
Mathematics Civic & Sciences Charter School Of Philadelphia Inc Philadelphia, PA | $10,694,323 | $13,238,093 |
American Cooperative School Of Tunis Acst Association Seaford, DE | $24,162,067 | $10,809,438 |
Yeshiva Tiferes Yisroel Brooklyn, NY | $12,406,666 | $10,084,609 |
Banyan School Inc Fairfield, NJ | $2,901,931 | $9,400,396 |
Metropolitan Montessori School New York, NY | $29,899,366 | $8,129,408 |
The Gesu School Inc Philadelphia, PA | $39,919,489 | $10,953,464 |
Universal Institute Charter School Philadelphia, PA | $3,423,551 | $10,521,421 |
University Urology Inc Buffalo, NY | $263,782 | $9,014,963 |
The New Life Child Development Center Inc Brooklyn, NY | $2,502,824 | $9,022,777 |
Universal Creighton Charter School Philadelphia, PA | $7,031,660 | $11,882,466 |