Gem Foundation Inc
Gem Foundation Inc is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in Far Hills, NJ. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $6.2M in total assets. In 2024, it made $12K in qualifying distributions. Net investment income was $306K.
Key facts about Gem Foundation Inc
- EIN
- 20-8856858
- Latest 990 filing
- Form 990-PF, 2024
- Total assets
- $6,183,681
Data from IRS Form 990-PF, 2024; updated September 2026.
How Gem Foundation Inc gives
- Giving fell 46% from 2020 to 2023. Method
- In 2024 it paid out 4% 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.
Next steps with Gem Foundation Inc
- How to evaluate Gem Foundation Inc as a funder
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Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$6.2M
+5.0% YoY
Revenue
$315K
+7.7% YoY
Qualifying Distributions
$12K
-96.6% YoY
Expenses
$20K
-94.2% YoY
Under IRS private-foundation payout rules, Gem Foundation Inc reported a distributable amount of $293K for 2024 — the minimum it must pay out in qualifying distributions.
About Gem Foundation Inc
Based on IRS filings
Gem Foundation Inc is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in Far Hills, NJ. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $6.2M in total assets. In 2024, it made $12K in qualifying distributions. Net investment income was $306K.
Focus Areas
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $6,183,681 | $5,889,409 | $5,950,543 |
| Revenue | $314,720 | $292,327 | $90,972 |
| Expenses | $20,448 | $353,461 | $402,569 |
| Qualifying Distributions | $12,033 | $353,125 | $402,313 |
| Net Investment Income | $306,305 | $291,981 | $90,716 |
| Distributable Amount | $293,303 | $286,393 | $293,099 |
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 0 recipients in 2024
Grant Size Distribution
8 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for 2024.
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
No officer or director reported compensation in the available filings.
From 2024 IRS filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Putnam L Crafts Jr | President, Treasurer, & Di | 10 | — |
| Marcia Zweig | V.P & Director | 2 | — |
| Patricia Callan Crafts | Secretary & Director | 2 | — |
| Martha S Sproule | Director | 2 | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is Gem Foundation Inc?
Gem Foundation Inc is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in Far Hills, NJ. It holds $6.2M in total assets as of 2024.
How large is Gem Foundation Inc?
As of 2024, Gem Foundation Inc holds $6.2M in total assets with $315K in annual revenue.
Where does Gem Foundation Inc operate?
Gem Foundation Inc has awarded grants in New Jersey, New York.
How much is Gem Foundation Inc required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Gem Foundation Inc reported a distributable amount of $293K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Gem Foundation Inc's EIN?
Gem Foundation Inc's EIN (Employer Identification Number) is 20-8856858. 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.