Asath Foundation
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.
Key facts about Asath Foundation
- EIN
- 81-4789718
- Latest 990 filing
- Form 990-PF, 2024
- Annual giving (2024)
- $240,141
- Grants made (2024)
- 53
- Average grant
- $4,531
- Median grant
- $1,800
- New grantees (estimate)
- 55% first-time grantees (29 of 53, 2024)
- Total assets
- $1,648,319
- Primary geography
- New Jersey (68% of itemized 2024 grant dollars)
Data from IRS Form 990-PF, 2024; updated September 2026. New grantees are estimated by matching recipient names across years (methodology).
Who Asath Foundation funds
By grant dollars, the top recipient states for Asath Foundation's 53 itemized 2024 grants were New Jersey (68%) and New York (29%). The most frequent recipient cities were Lakewood, NJ (30 grants), Brooklyn, NY (11 grants), New York, NY (2 grants) and Toms River, NJ (2 grants). None of its 53 grants with a stated purpose were described as general or operating support. Recurring purposes include "To Further the Charitable Purpose of the Organization" (53 grants).
Is Asath Foundation open to new grantees?
55%
first-time grantees, 2024
In 2024, 29 of 53 grantees (55%) were first-time recipients. First grants averaged $2K; repeat grants $7K. How we count
Medians: $1K first-time, $2K repeat.
- 36% of 2024 grantees were also funded in 2023. Method
- Giving held roughly steady from 2021 to 2024 (+0%). Method
- In 2024 it paid out 314% of its IRS minimum distribution (the 5% rule). Method
Estimate from itemized IRS Form 990-PF grant lists (2020–2024). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Next steps with Asath Foundation
- How to evaluate Asath Foundation as a funder
Our grant prospecting guide: read the 990-PF, check fit, and decide whether to apply.
- Draft an LOI to Asath Foundation with AI
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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.
Ready to take the next step with Asath Foundation?
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
Share of all 53 itemized 2024 grant dollars.
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 |
Data update history
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
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
188 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest recipients include Congregation Gates of Mercy ($48,000), Gmach Chasdei Yitzchak ($38,500), Yeshivas Radin ($27,000).
| Recipient | Purpose | Amount |
|---|---|---|
| Congregation Gates of Mercy Lakewood, NJ | TO FURTHER THE CHARITABLE PURPOSE OF THE ORGANIZATION | $48,000 |
| Gmach Chasdei Yitzchak Brooklyn, NY | TO FURTHER THE CHARITABLE PURPOSE OF THE ORGANIZATION | $38,500 |
| Yeshivas Radin Lakewood, NJ | TO FURTHER THE CHARITABLE PURPOSE OF THE ORGANIZATION | $27,000 |
| Beth Medrash Govoha of America Ttfy Lakewood, NJ | TO FURTHER THE CHARITABLE PURPOSE OF THE ORGANIZATION | $10,000 |
| BMG Student Aid Fund Lakewood, NJ | TO FURTHER THE CHARITABLE PURPOSE OF THE ORGANIZATION | $10,000 |
| Keren Olam Hatorah New York, NY | TO FURTHER THE CHARITABLE PURPOSE OF THE ORGANIZATION | $10,000 |
| Daat Torah Brooklyn, NY | TO FURTHER THE CHARITABLE PURPOSE OF THE ORGANIZATION | $10,000 |
| Meoros Bais Yaakov Lakewood, NJ | TO FURTHER THE CHARITABLE PURPOSE OF THE ORGANIZATION | $6,500 |
| Mesikus Hatorah Jackson, NJ | TO FURTHER THE CHARITABLE PURPOSE OF THE ORGANIZATION | $5,000 |
| BJJ Hachnosas Kallah Fund Silver Spring, MD | TO FURTHER THE CHARITABLE PURPOSE OF THE ORGANIZATION | $5,000 |
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
No officer or director reported compensation in the available filings.
From 2024 IRS 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.
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Data last updated September 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.