Blue Foundry Charitable Foundation Inc
Blue Foundry Charitable Foundation Inc is a private foundation based in Parsippany, New Jersey. It supports nonprofit organizations working in communities served by Blue Foundry Bank, with grants focused on affordable housing, education, youth programs, and health and human services.
Blue Foundry Charitable Foundation Inc at a glance
In short: Blue Foundry Charitable Foundation Inc gave $265K across 37 grants in 2024 (avg $7K), mostly in New Jersey. 51% of 2024 grantees were new. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $264,998
- -36.4% vs 2023
- Grants made (2024)
- 37
- -43.9% vs 2023
- Average grant
- $7,162
- +13.5% vs 2023
- Median grant
- $4,000
- Total assets
- $7,250,353
- -3.1% vs 2023
- New grantees (estimate)
- 51% first-time grantees (19 of 37, 2024)
- Primary geography
- New Jersey (100% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990-PF, 2024 View filing
Data from IRS Form 990-PF, 2024; updated October 2026. New grantees are estimated by matching recipient names across years (methodology).
How to apply to Blue Foundry Charitable Foundation Inc
- How to Apply
-
The Foundation directs organizations to its online application process. Silver applications are accepted January 15–November 1; Gold applications March 15–May 1; and Platinum letters of inquiry January 15–March 1. Platinum inquiries are for eligible organizations that have previously received a Silver or Gold grant; invited applicants submit applications April 1–May 15. Review may take up to four months for Silver and seven months for Gold. The Foundation prioritizes requests from organizations with annual operating budgets of $10 million or less, does not consider requests for money already spent, and does not consider incomplete applications.
- Review Cycle
- The filing states that the deadline is generally November 15 and directs applicants to the website for further details; the website lists separate application periods by grant level.
- Deadline
- The filing states that the deadline is generally November 15 and directs applicants to the website for further…
- Contact
Application contact: Sara Aitken
Mailing address: 7 Sylvan Way Suite 200, Parsippany, NJ 07054
Phone: (973) 387-8290
Email: info@bluefoundrycharitablefoundation.org
Website: https://bluefoundrycharitablefoundation.org
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who Blue Foundry Charitable Foundation Inc funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
The largest 2024 recipient was Bergen Volunteer Medical Initiative ($50K). Together the top 10 received $170K.
Grant Size Distribution
256 grants across all recorded years
The most common grant size was under $50K: 253 grants of 256 (99%).
Geographic Focus
Where this funder awards grants
The Foundation’s stated geographic focus is New Jersey communities served by Blue Foundry Bank. All 2024 grant dollars went to recipients in New Jersey.
Grant Distribution by State
Share of 2024 grant dollars across all 37 itemized grants.
States
Cities
Is Blue Foundry Charitable Foundation Inc open to new grantees?
51%
first-time grantees, 2024
In 2024, 19 of 37 grantees (51%) were first-time recipients. First grants averaged $6K; repeat grants $9K. How we count
Medians: $4K first-time, $4K repeat.
- 30% of 2024 grantees were also funded in 2023. Method
- Giving grew 147% from 2021 to 2024. Method
- In 2024 it paid out 94% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. Method
Estimate from itemized grant lists in IRS Form 990-PF filings (2021–2024). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2021 to 2024, annual grant giving ranged from $108K (2021) to $586K (2022). In 2024 it made 37 grants totaling $265K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Bergen Volunteer Medical Initiative Hackensack, NJ | Health and Human Services | $50,000 |
| Felician University Lodi, NJ | Education | $25,000 |
| Center for Hope and Safety Inc Rochelle Park, NJ | Affordable Housing | $15,000 |
| Greater Middlesex & Morris Habitat for Humanity Randolph, NJ | Affordable Housing | $15,000 |
| Interfaith Food Pantry Network Morris Plains, NJ | Health and Human Services | $12,500 |
| Women's Center for Entrepreneurship Chatham, NJ | Education | $12,500 |
| Boys & Girls Clubs of Union County Union, NJ | Youth Programs | $10,000 |
| Great Swamp Watershed Association New Vernon, NJ | Education | $10,000 |
| Habitat for Humanity of Greater Newark Newark, NJ | Affordable Housing | $10,000 |
| Horizons Newark Summit, NJ | Education | $10,000 |
Ready to take the next step with Blue Foundry Charitable Foundation Inc?
Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2024 | $7,250,353 | $9,885 | $349,105 | $264,998 | 37 | $346,494 | $7,274 | $369,395 |
| 2023 | $7,481,913 | $15,273 | $500,945 | $416,651 | 66 | $498,274 | $12,602 | $387,897 |
| 2022 | $10,352,585 | $1,061 | $655,788 | $585,855 | 131 | $654,492 | — | $523,236 |
| 2021 | $12,334,810 | $9,000,000 | $127,690 | $107,500 | 22 | $127,690 | — | $269,967 |
Under IRS private-foundation payout rules, Blue Foundry Charitable Foundation Inc reported a distributable amount of $369K for 2024 — the minimum it must pay out in qualifying distributions.
Research compiled by Grantable AI from public sources. Last updated September 2026.
Mission & Focus Areas
The Foundation’s four giving pillars are:
- Affordable Housing: Programs that provide or encourage affordable and low-income housing.
- Education: Initiatives at the primary, secondary, and post-secondary levels that raise student aspirations and enhance knowledge, including in economics, communications, business, and public speaking.
- Youth Programs: Programs that improve children’s quality of life or foster education, learning, and leadership.
- Health and Human Services: Medical care and initiatives focused on physical and mental wellness.
The Foundation’s 2024 grantees illustrate these areas. Bergen Volunteer Medical Initiative describes its work as providing free healthcare to uninsured Bergen County residents. Habitat for Humanity of Greater Newark says it builds homes and makes critical repairs to provide affordable housing for low- to moderate-income families. Horizons Newark describes its work as academic enrichment for public-school students from low-income families, while Boys & Girls Clubs of Union County says it helps young people reach their potential as productive, caring, responsible citizens.
Grantmaking
In 2024, the Foundation awarded $264,998 through 37 grants. Awards ranged from $875 to $50,000, with a median grant of $4,000.
Among the largest reported 2024 awards were $50,000 to Bergen Volunteer Medical Initiative for health and human services; $25,000 to Felician University for education; $15,000 each to Center for Hope and Safety and Greater Middlesex & Morris Habitat for Humanity for affordable housing; and $12,500 each to Interfaith Food Pantry Network for health and human services and Women’s Center for Entrepreneurship for education. Other grants included $10,000 each to Boys & Girls Clubs of Union County, Great Swamp Watershed Association, Habitat for Humanity of Greater Newark, and Horizons Newark.
Eligible applicants must be registered 501(c)(3) public charities in good standing, designated under Section 509(a)(1) or 509(a)(2), serve a community with a Blue Foundry Bank branch, and fit at least one giving pillar. Applicants must provide their most recent Form 990, 990-N, or 990-EZ. The Foundation generally does not consider requests for existing deficits, retroactive funding, debt reduction, religious activities, political lobbying or legislative activities, individual endeavors, event sponsorships, private foundations, or grants to other grant-making organizations. It also generally will not consider organizations with outstanding grant reports or organizations that discriminate on the bases listed in its eligibility criteria.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2024 filing lists Patrice Picard as president; James Nesci as vice president; Kenneth Grimbilas as vice president and treasurer; J. Christopher Ely as secretary; and Sara Aitken as foundation manager.
Blue Foundry Charitable Foundation Inc is led by Patrice Picard, President on every filing since 2021; 1 of 5 officers listed in 2024 is compensated.
Officers on the 2024 filing
Patrice Picard
President
On filings since 2021
1 hr/week
No compensation reported
Sara Aitken
Foundation Manager
New on the 2024 filing
25 hrs/week
$53K (2024)
J. Christopher Ely
Secretary
On filings since 2021
1 hr/week
No compensation reported
James Nesci
Vice President
On filings since 2021
1 hr/week
No compensation reported
Kenneth Grimbilas
Vice President & Treasurer
On filings since 2021
1 hr/week
No compensation reported
Data from IRS Form 990 filings, 2021–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2024 IRS filing
The highest reported compensation on the 2024 filing was $53K, to Sara Aitken (Foundation Manager).
Frequently asked questions about Blue Foundry Charitable Foundation Inc
How much does Blue Foundry Charitable Foundation Inc give each year?
Blue Foundry Charitable Foundation Inc gave $265K across 37 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $417K across 66 grants.
What is Blue Foundry Charitable Foundation Inc's typical grant size?
Blue Foundry Charitable Foundation Inc's median grant in 2024 was $4,000, and its average grant was $7,162, across 37 grants on its 2024 IRS Form 990-PF. Organizations receiving their first grant from Blue Foundry Charitable Foundation Inc that year got $6K on average.
Where does Blue Foundry Charitable Foundation Inc give grants?
Blue Foundry Charitable Foundation Inc gives mostly in New Jersey: 100% of the grant dollars itemized on its 2024 IRS Form 990-PF went to recipients there. The most frequent recipient cities were Paterson, NJ (4 grants), Morristown, NJ (3 grants), Hackensack, NJ (2 grants) and Newark, NJ (2 grants).
Does Blue Foundry Charitable Foundation Inc give general operating support?
Not in 2024: none of the 37 grants with a stated purpose on Blue Foundry Charitable Foundation Inc's 2024 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Health and Human Services" (12 grants), "Education" (10 grants) and "Youth Programs" (8 grants).
Who are Blue Foundry Charitable Foundation Inc's largest grantees?
Blue Foundry Charitable Foundation Inc's largest 2024 grantees include Bergen Volunteer Medical Initiative ($50,000), Felician University ($25,000) and Center for Hope and Safety Inc ($15,000), according to its 2024 IRS Form 990-PF. Together they received 34% of its itemized 2024 grant dollars.
How large is Blue Foundry Charitable Foundation Inc?
Blue Foundry Charitable Foundation Inc reported $7.3M in total assets on its 2024 IRS Form 990-PF. It paid out $346K in qualifying distributions that year, against a required minimum of $369K (roughly 5% of its investment assets). Falling short in one year is not a violation: foundations have until the end of the next year to meet the minimum.
What does Blue Foundry Charitable Foundation Inc fund?
The Foundation’s four giving pillars are: See mission & focus areas ↑
How do I apply for a grant from Blue Foundry Charitable Foundation Inc?
The Foundation directs organizations to its online application process. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is Blue Foundry Charitable Foundation Inc's EIN?
Blue Foundry Charitable Foundation Inc's EIN (Employer Identification Number) is 87-1693864. IRS Form 990 filing data is available on this page for 2021–2024.
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated September 2026.
Data update history
(1)
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2021–2024
Live grants for the work Blue Foundry Charitable Foundation Inc funds
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Cite this profile
Grantable. (2026). Blue Foundry Charitable Foundation Inc funder profile. GrantGraph. Retrieved October 20, 2026, from https://grantable.co/funders/blue-foundry-charitable-foundation-inc-morg_6d53fad836964e88a904d63520cb8390
BibTeX
@misc{grantable_871693864_2026,
author = {{Grantable}},
title = {{Blue Foundry Charitable Foundation Inc funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/blue-foundry-charitable-foundation-inc-morg_6d53fad836964e88a904d63520cb8390},
note = {Accessed 2026-10-20. Data licensed CC BY 4.0}
}The figures on this page are open data under CC BY 4.0: reuse them with credit to Grantable and a link. Download the data.
Figures come from Blue Foundry Charitable Foundation Inc's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
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