Asath Foundation is a private independent foundation based in Toms River, New Jersey. The organization was designated as tax-exempt in March 2017 and operates as a 501(c)(3) charitable organization. The foundation functions as a grantmaking entity, making contributions to various tax-exempt organizations.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$1.6M
+11.4% YoY
Annual Giving
$240K
-17.2% YoY
Grant Count
53
+39.5% YoY
Avg Grant Size
$5K
-40.6% YoY
Under IRS private-foundation payout rules, Asath Foundation reported a distributable amount of $76K for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The foundation's primary purpose is to make contributions to various tax-exempt yeshivos, schools, and synagogues that qualify as 501(c)(3) charities. The foundation does not specify particular subject areas of focus beyond this charitable purpose.
Grantmaking
The foundation made 25 grants in the most recent fiscal year (2023). Recent grantees include:
Grant Range
of approximately $8,000.
Average Grant
of approximately $8,000.
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Geographic Focus
Where this funder awards grants
The foundation has funded projects across multiple U.S. cities and states, including:
Cities: Airmont, Brooklyn, Cedarhurst, Chicago, Jackson, Lakewood, Miami, Morganville, New York, Plano, Spring Valley, and Teaneck
States: Florida, Illinois, New Jersey, New York, and Texas
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
As of 2023:
- Total Assets: $1,479,470
- Total Revenue: $417,189
- Total Expenses: $289,998
- Total Liabilities: $0
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $1,648,319 | $1,479,470 | $1,363,398 |
| Revenue | $413,704 | $417,189 | $397,510 |
| Expenses | $244,855 | $289,998 | $245,976 |
| Qualifying Distributions | $240,141 | $289,980 | $245,600 |
| Net Investment Income | $13,421 | $17,189 | — |
| Distributable Amount | $76,480 | $77,025 | $70,939 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
185 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Congregation Gates of Mercy ($48,000), Gmach Chasdei Yitzchak ($38,500), Yeshivas Radin ($27,000).
| Recipient | Purpose | Amount |
|---|---|---|
| Yeshiva Bais Yosef Brooklyn, NY | TO FURTHER THE CHARITABLE PURPOSE OF THE ORGANIZATION | $750 |
| Congregation Gates of Mercy Lakewood, NJ | TO FURTHER THE CHARITABLE PURPOSE OF THE ORGANIZATION | $48,000 |
| Khal Chassidim of Westgate Lakewood, NJ | TO FURTHER THE CHARITABLE PURPOSE OF THE ORGANIZATION | $4,500 |
| Lakewood Cheder Lakewood, NJ | TO FURTHER THE CHARITABLE PURPOSE OF THE ORGANIZATION | $1,000 |
| Lev L'Achim Brooklyn, NY | TO FURTHER THE CHARITABLE PURPOSE OF THE ORGANIZATION | $1,800 |
| Mesikus Hatorah Jackson, NJ | TO FURTHER THE CHARITABLE PURPOSE OF THE ORGANIZATION | $5,000 |
| RCCS Brooklyn, NY | TO FURTHER THE CHARITABLE PURPOSE OF THE ORGANIZATION | $1,000 |
| Tomchei Shabbos Lakewood, NJ | TO FURTHER THE CHARITABLE PURPOSE OF THE ORGANIZATION | $2,500 |
| Beth Medrash Govoha of America Ttfy Lakewood, NJ | TO FURTHER THE CHARITABLE PURPOSE OF THE ORGANIZATION | $10,000 |
| Yad Eliezer Brooklyn, NY | TO FURTHER THE CHARITABLE PURPOSE OF THE ORGANIZATION | $1,800 |
Leadership & Key People
Leadership team and compensation from IRS filings
The foundation is managed by trustees Aaron Homnick and Adena Homnick, both of whom serve without compensation.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Aaron Homnick | Trustee | 1 | — |
| Adena Homnick | Trustee | 1 | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does Asath Foundation fund?
The foundation's primary purpose is to make contributions to various tax-exempt yeshivos, schools, and synagogues that qualify as 501(c)(3) charities. The foundation does not specify particular subject areas of focus beyond this charitable purpose.
How do I apply for a grant from Asath Foundation?
The foundation made 25 grants in the most recent fiscal year (2023). Recent grantees include: • Congregation Gates of Mercy: $110,000 • Yeshivath Radin: $37,000 • Machzikei Yisroel: $19,500 Total giving in 2023 was $289,980, with an average grant size of approximately $8,000.
Where does Asath Foundation make grants?
The foundation has funded projects across multiple U.S. cities and states, including: **Cities:** Airmont, Brooklyn, Cedarhurst, Chicago, Jackson, Lakewood, Miami, Morganville, New York, Plano, Spring Valley, and Teaneck **States:** Florida, Illinois, New Jersey, New York, and Texas
What size grants does Asath Foundation award?
In 2024, Asath Foundation awarded 53 grants totaling $240K — an average of about $5K per grant, based on its IRS Form 990 filings.
How much is Asath Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Asath Foundation reported a distributable amount of $76K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Asath Foundation's EIN?
Asath Foundation's EIN (Employer Identification Number) is 81-4789718. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in Asath Foundation's focus areas in our free grants database
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Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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