Ernest Schacht Fund Co Valley National Bank
Ernest Schacht Fund Co Valley National Bank is a private foundation focused on Health, based in Paramus, NJ. IRS filing data is available from 2021 through 2026. As of 2026, the organization holds $1.5M in total assets. In 2026, it awarded 9 grants totaling $45K. Net investment income was $116K.
Ernest Schacht Fund Co Valley National Bank at a glance
In short: Ernest Schacht Fund Co Valley National Bank gave $45K across 9 grants in 2026 (avg $5K), mostly in New Jersey. Source: 2026 IRS Form 990-PF.
- Annual giving (2026)
- $45,243
- -59.6% vs 2025
- Grants made (2026)
- 9
- +0.0% vs 2025
- Average grant
- $5,027
- -59.6% vs 2025
- Median grant
- $5,027
- Total assets
- $1,495,263
- +4.3% vs 2025
- Primary geography
- New Jersey (67% of itemized 2026 grant dollars)
- Latest 990 filing
- Form 990-PF, 2026 View filing
Data from IRS Form 990-PF, 2026; updated September 2026.
Who Ernest Schacht Fund Co Valley National Bank funds
How this funder distributes its grants
Top Recipients
Top 9 recipients in 2026
The largest 2026 recipient was The Salvation Army Richard D Allen Asst ($5K). Together the top 9 received $45K.
Grant Size Distribution
45 grants across all recorded years
The most common grant size was under $50K: 45 grants of 45 (100%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2026 grant dollars across all 9 itemized grants.
Cities
How Ernest Schacht Fund Co Valley National Bank gives
- Giving held roughly steady from 2023 to 2026 (−8%). Method
- In 2026 it paid out 56% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. Method
From the foundation's IRS Form 990-PF filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2021 to 2026, annual grant giving ranged from $45K (2026) to $188K (2024). In 2026 it made 9 grants totaling $45K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| The Salvation Army Richard D Allen Asst West Nyack, NY | General Operating Funds | $5,027 |
| American Red Cross Washington, DC | General Operating Funds | $5,027 |
| Greater Passaic Clifton Community Center Passaic, NJ | Unrestricted - General | $5,027 |
| Childrens Day Nursery & Family Ctr Passaic, NJ | General Operating Funds | $5,027 |
| Girl Scouts Riverdale, NJ | General Operating Funds | $5,027 |
| Boys & Girls Club of Paterson Paterson, NJ | Unrestricted - General | $5,027 |
| Enrichment Center for Women Children & Paterson, NJ | General Operating Funds | $5,027 |
| Boy Scouts of America Oakland, NJ | General Operating Funds | $5,027 |
| Passaic Home & Orphan Asylum Rev Tua Pittsburgh, PA | Unrestricted - General | $5,027 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2026 | $1,495,263 | $128,209 | $68,613 | $45,243 | 9 | $52,211 | $115,881 | $92,829 |
| 2025 | $1,433,266 | $130,744 | $135,366 | $111,951 | 9 | $118,501 | $120,374 | $84,891 |
| 2024 | $1,437,427 | $152,540 | $212,358 | $187,614 | 9 | $194,902 | $141,737 | $85,656 |
| 2023 | $1,497,594 | $114,259 | $81,061 | $49,140 | 9 | $67,889 | $92,441 | $81,580 |
| 2022 | $1,464,410 | $137,563 | $101,945 | $80,307 | 9 | $88,099 | $124,543 | $123,888 |
| 2021 | $1,393,696 | $50,964 | $91,646 | $73,976 | 10 | — | $38,387 | $80,804 |
Under IRS private-foundation payout rules, Ernest Schacht Fund Co Valley National Bank reported a distributable amount of $93K for 2026 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
Ernest Schacht Fund Co Valley National Bank's only listed officer is Valley National Bank Trust Co, Trustee on every filing since 2021 (compensated).
Officers on the 2026 filing
Valley National Bank Trust Co
Trustee
On filings since 2021
2 hrs/week
$18K (2021) → $21K (2026)
Data from IRS Form 990 filings, 2021–2026. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2026 IRS filing
The highest reported compensation on the 2026 filing was $21K, to Valley National Bank Trust Co (Trustee).
Frequently asked questions about Ernest Schacht Fund Co Valley National Bank
How much does Ernest Schacht Fund Co Valley National Bank give each year?
Ernest Schacht Fund Co Valley National Bank gave $45K across 9 grants in 2026, according to its 2026 IRS Form 990-PF. In 2025 it gave $112K across 9 grants.
What is Ernest Schacht Fund Co Valley National Bank's typical grant size?
Ernest Schacht Fund Co Valley National Bank's median grant in 2026 was $5,027, and its average grant was $5,027, across 9 grants on its 2026 IRS Form 990-PF.
Where does Ernest Schacht Fund Co Valley National Bank give grants?
Ernest Schacht Fund Co Valley National Bank gives mostly in New Jersey: 67% of the grant dollars itemized on its 2026 IRS Form 990-PF went to recipients there. The next largest states were New York (11%) and District of Columbia (11%). The most frequent recipient cities were Passaic, NJ (2 grants) and Paterson, NJ (2 grants).
Does Ernest Schacht Fund Co Valley National Bank give general operating support?
Yes: 100% of Ernest Schacht Fund Co Valley National Bank's 2026 grants with a stated purpose (9 of 9) were for general or operating support, per its 2026 IRS Form 990-PF.
Who are Ernest Schacht Fund Co Valley National Bank's largest grantees?
Ernest Schacht Fund Co Valley National Bank's largest 2026 grantees include The Salvation Army Richard D Allen Asst ($5,027), American Red Cross ($5,027) and Greater Passaic Clifton Community Center ($5,027), according to its 2026 IRS Form 990-PF. Together they received 33% of its itemized 2026 grant dollars.
How large is Ernest Schacht Fund Co Valley National Bank?
Ernest Schacht Fund Co Valley National Bank reported $1.5M in total assets on its 2026 IRS Form 990-PF. It paid out $52K in qualifying distributions that year, against a required minimum of $93K (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 is Ernest Schacht Fund Co Valley National Bank?
Ernest Schacht Fund Co Valley National Bank is a private foundation focused on Health, based in Paramus, NJ. It holds $1.5M in total assets as of 2026.
What is Ernest Schacht Fund Co Valley National Bank's EIN?
Ernest Schacht Fund Co Valley National Bank's EIN (Employer Identification Number) is 22-6102192. IRS Form 990 filing data is available on this page for 2021–2026.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Data update history
(3)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2024 (received by the IRS November 22, 2024)
- Added Form 990-PF for fiscal year 2026 (received by the IRS June 30, 2026)
- IRS filings on file for fiscal years 2021–2025
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