Foster Karney Trust Fund
The Foster Karney Trust Fund is a private foundation based in Ocean City, New Jersey. Established in 1988, it operates as a 501(c)(3) organization with no employees. The foundation functions as a grantmaking entity focused on general purpose philanthropy.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$3.5M
+0.8% YoY
Annual Giving
$206K
-2.6% YoY
Grant Count
22
-4.3% YoY
Avg Grant Size
$9K
+1.9% YoY
Under IRS private-foundation payout rules, Foster Karney Trust Fund reported a distributable amount of $235K for 2024 — the minimum it must pay out in qualifying distributions.
Grantmaking
The foundation made 26 grants in 2024. Recent grantees include:
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Geographic Focus
Where this funder awards grants
The foundation is based in Ocean City, New Jersey and appears to focus its grantmaking in the local and regional area.
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
Fiscal Year 2024:
- Total Assets: $3,496,511
- Total Revenues: $237,471
- Total Expenses: $214,118
- Investment Income and Dividends: $154,515
- Net Gain from Sale of Non-Inventory Assets: $82,956
- Miscellaneous Revenues: $9,903
Fiscal Year 2023:
- Investment Income and Dividends: $153,915
- Net Gain from Sale of Non-Inventory Assets: $23,795
- Miscellaneous Revenues: $4,929
The foundation receives no grants or contributions, relying instead on investment income and asset sales to fund its grantmaking activities.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $3,496,511 | $3,469,891 | $3,504,821 |
| Revenue | $237,471 | $177,710 | $403,652 |
| Expenses | $214,118 | $217,570 | $191,092 |
| Qualifying Distributions | $206,362 | $211,808 | $181,093 |
| Net Investment Income | $153,879 | $153,915 | $149,380 |
| Distributable Amount | $234,901 | $201,187 | $205,170 |
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
118 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Ranch Hope Inc ($24,000), Foundation for Sustainable Vets Hou ($23,000), Shore Medical Center ($22,000).
| Recipient | Purpose | Amount |
|---|---|---|
| AMERICAN LEGION AUXILIARY POST 524 OCEAN CITY, NJ | GENERAL PURPOSE | $16,000 |
| AMERICAN LEGION CRAWFORD CREWS POST MONCLAIR, NJ | GENERAL PURPOSE | $6,362 |
| ANGELIC HEATH FOUNDATION WEST ATLANTIC CITY, NJ | GENERAL PURPOSE | $4,000 |
| CAPE ATLANTIC CITIZENS ALTERING THE OCEAN CITY, NJ | GRNERAL PRRPOSE | $6,000 |
| CASA SOMERS POINT, NJ | GENERAL PURPOSE | $2,000 |
| CONTACT CAPE ATLANTIC NORTHFIELD, NJ | GENERAL PURPOSE | $5,000 |
| FOUNDATION FOR SUSTAINABLE VETS HOU WESTFIELD, NJ | GENERAL PURPOSE | $23,000 |
| GILDA'S CLUB SOUTH JERSEY LINWOOD, NJ | GENERAL PURPOSE | $2,000 |
| JOHN R ELLIOTT HERO CAMPAGNE SOMERS POINT, NJ | GENERAL PURPOSE | $12,000 |
| MARINE MAMMAL STRANDING CENTER BRIGANTINE, NJ | GRNERAL PURPOSE | $1,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| JOHN QUINN | TREASURER | — | — |
| EDWARD PRICE | CHAIRMEN | — | — |
| GEORGE BOOKOS | SECRETARY | — | — |
Contact Information
Mailing Address: PO Box 364 Ocean City, NJ 08226
EIN: 22-6441627
Frequently Asked Questions
How do I apply for a grant from Foster Karney Trust Fund?
The foundation made 26 grants in 2024. Recent grantees include: • Ranch Hope (RH) — $24,000 • Sunshine Foundation — $22,000 • Cape Volunteers in Medicine — $22,000 The foundation also supports OC High School Scholarships and other organizations in its funding portfolio.
Where does Foster Karney Trust Fund make grants?
The foundation is based in Ocean City, New Jersey and appears to focus its grantmaking in the local and regional area.
What size grants does Foster Karney Trust Fund award?
In 2024, Foster Karney Trust Fund awarded 22 grants totaling $206K — an average of about $9K per grant, based on its IRS Form 990 filings.
How much is Foster Karney Trust Fund required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Foster Karney Trust Fund reported a distributable amount of $235K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Foster Karney Trust Fund's EIN?
Foster Karney Trust Fund's EIN (Employer Identification Number) is 22-6441627. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in Foster Karney Trust Fund'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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