Gladys M Thomas Testamentary Trust

Private foundation · Grantmaker Point Pleasant, NJ EIN: 02-6144776

Gladys M Thomas Testamentary Trust is a private foundation based in Point Pleasant, New Jersey. In 2024, it reported 10 grants totaling $32,000, supporting organizations including community-service, environmental, and scholarship recipients.

Key facts about Gladys M Thomas Testamentary Trust

In short: Gladys M Thomas Testamentary Trust gave $32K across 10 grants in 2024 (avg $3K), mostly in New Jersey. Source: 2024 IRS Form 990-PF.

EIN
02-6144776
Latest 990 filing
Form 990-PF, 2024
Annual giving (2024)
$32,000
Grants made (2024)
10
Average grant
$3,200
Median grant
$2,000
Total assets
$500,007
Primary geography
New Jersey (84% of itemized 2024 grant dollars)
Accepts unsolicited proposals
No
How to apply
The filing says the Trust does not accept unsolicited requests; unsolicited grant requests will not be responded to. Full details ↓
Deadline
None at this time, according to the filing.

Data from IRS Form 990-PF, 2024; updated September 2026. Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.

Financial Overview

From 2024 IRS Form 990-PF · View filing

Total Assets

$500K

+8.9% YoY

Annual Giving

$32K

+16.4% YoY

Grant Count

10

+25.0% YoY

Avg Grant Size

$3K

-6.9% YoY

Under IRS private-foundation payout rules, Gladys M Thomas Testamentary Trust reported a distributable amount of $26K for 2024 — the minimum it must pay out in qualifying distributions.

How Gladys M Thomas Testamentary Trust gives

  • 70% of 2024 grantees were also funded in 2023. Method
  • Giving held roughly steady from 2021 to 2024 (+3%). Method
  • In 2024 it paid out 152% of its IRS minimum distribution (the 5% rule). Method

Estimate from itemized grant lists in IRS Form 990-PF filings (2024). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.

Research compiled by Grantable AI from public sources. Last updated September 2026.

Mission & Focus Areas

No mission statement for the Trust is provided. Its 2024 grants included community support and scholarships. The grantees describe their own work as including protecting Barnegat Bay and its ecosystem (Save Barnegat Bay), providing temporary relief and basic necessities to people in need (St Gregory’s Pantry), providing a safe and caring environment for residents of a health care facility (Ocean Housing Alliance), and rescuing, rehabilitating, and releasing stranded or injured marine mammals and sea turtles (Marine Mammal Stranding Center).

Grantmaking

In 2024, the Trust gave 10 grants totaling $32,000. Grants ranged from $2,000 to $5,000, with a median of $2,000.

Review Cycle

None at this time, according to the filing.

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Geographic Focus

Where this funder awards grants

In 2024, 84% of grant dollars went to recipients in New Jersey and 16% to recipients in Florida. The listed grants include organizations in Point Pleasant and other New Jersey communities, as well as a recipient in Key West, Florida.

Grant Distribution by State

3states

Share of 2024 grant dollars across all 10 itemized grants.

Cities

Point Pleasant BeachPoint PleasantAsbury ParkKey WestBrigantineSpring LakeToms RiverBrickOradellPoint Pleasant BoroSea GirtStaten Island

Giving Over Time

Total grant dollars and number of grants per year

$0$10K$20K$30K$40K2 grants2020 7 grants2021 7 grants2022 8 grants2023 10 grants2024

From 2020 to 2024, annual grant giving ranged from $8K (2020) to $32K (2024). In 2024 it made 10 grants totaling $32K.

Grant Insights

How this funder distributes its grants

Top Recipients

Top 10 recipients in 2024

SRSA Children's Trout Tournament: $5KSRSA Children's TroutTournament$5KCommunity Fdn of the Florida Keys: $5KCommunity Fdn of the FloridaKeys$5KPoint Pleasant First Aid: $5KPoint Pleasant First Aid$5KOcean Fire Company #1: $5KOcean Fire Company #1$5KSt Gregory's Pantry: $2KSt Gregory's Pantry$2KPoint Pleasant Library: $2KPoint Pleasant Library$2KOcean Housing Alliance: $2KOcean Housing Alliance$2KMarine Mammal Stranding Center: $2KMarine Mammal Stranding Center$2KJersey Shore Rescue Mission: $2KJersey Shore Rescue Mission$2KSave Barnegat Bay: $2KSave Barnegat Bay$2K

The largest 2024 recipient was SRSA Children's Trout Tournament ($5K). Together the top 10 received $32K.

Grant Size Distribution

34 grants across all recorded years

34<$50K$50–100K$100–250K$250–500K$500K–1M$1–5M$5M+

The most common grant size was under $50K: 34 grants of 34 (100%).

Giving History

Grant recipients and amounts by year

RecipientPurposeAmount
SRSA Children's Trout Tournament SPring Lake, NJCommunity Support$5,000
Community Fdn of the Florida Keys Key West, FLScholarships$5,000
Point Pleasant First Aid Point Pleasant Beach, NJCommunity Support$5,000
Ocean Fire Company #1 Point Pleasant Beach, NJCommunity Support$5,000
St Gregory's Pantry Point Pleasant Beach, NJCommunity Support$2,000
Point Pleasant Library Point Pleasant Boro, NJCommunity Support$2,000
Ocean Housing Alliance Point Pleasant Beach, NJCommunity Support$2,000
Marine Mammal Stranding Center Brigantine, NJCommunity Support$2,000
Jersey Shore Rescue Mission Asbury Park, NJCommunity Support$2,000
Save Barnegat Bay Toms River, NJCommunity Support$2,000

Financial History

Multi-year comparison from IRS filings

Filing year Assets Revenue Expenses Grants
2024 $500,007 $37,410 $40,154 $32,000 (10 grants)
2023 $459,031 $29,037 $35,153 $27,500 (8 grants)
2022 $437,576 $38,619 $32,662 $25,000 (7 grants)
Revenue
Expenses
Qualifying Distributions
Net Investment Income
$0$20K$40K$60K2020 2021 2022 2023 2024
Metric202420232022
Total Assets$500,007$459,031$437,576
Revenue$37,410$29,037$38,619
Expenses$40,154$35,153$32,662
Qualifying Distributions$39,154$34,553$32,662
Net Investment Income$37,410$31,682$38,619
Distributable Amount$25,696$24,201$27,900

Data update history

When this profile's IRS filing data changed on Grantable

  1. IRS filings on file for fiscal years 2020–2024

Leadership & Key People

Leadership team and compensation from IRS filings

The 2024 filing lists Peter D Kearns as trustee.

Gladys M Thomas Testamentary Trust is led by Peter D Kearns, Trustee on every filing since 2020 — the only officer listed, and compensated.

Officers on the 2024 filing

  • Peter D Kearns

    Trustee

    On filings since 2020

    2 hrs/week

    $5K (2020) → $5K (2024)

Data from IRS Form 990 filings, 2020–2024. "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

Peter D Kearns — Trustee: $5KPeter D KearnsTrustee$5K

The highest reported compensation on the 2024 filing was $5K, to Peter D Kearns (Trustee).

Contact

Application contact: Peter D Kearns Esq
Mailing address: PO Box 730, Point Pleasant, NJ 08742
Phone: (732) 996-5904

Frequently asked questions about Gladys M Thomas Testamentary Trust

How much does Gladys M Thomas Testamentary Trust give each year?

Gladys M Thomas Testamentary Trust gave $32K across 10 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $28K across 8 grants.

What is Gladys M Thomas Testamentary Trust's typical grant size?

Gladys M Thomas Testamentary Trust's median grant in 2024 was $2,000, and its average grant was $3,200, across 10 grants on its 2024 IRS Form 990-PF.

Where does Gladys M Thomas Testamentary Trust give grants?

Gladys M Thomas Testamentary Trust gives mostly in New Jersey: 84% of the grant dollars itemized on its 2024 IRS Form 990-PF went to recipients there. The next largest state was Florida (16%). The most frequent recipient cities were Point Pleasant Beach, NJ (4 grants).

Does Gladys M Thomas Testamentary Trust give general operating support?

Not in 2024: none of the 10 grants with a stated purpose on Gladys M Thomas Testamentary Trust's 2024 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Community Support" (9 grants).

Who are Gladys M Thomas Testamentary Trust's largest grantees?

Gladys M Thomas Testamentary Trust's largest 2024 grantees include SRSA Children's Trout Tournament ($5,000), Community Fdn of the Florida Keys ($5,000) and Point Pleasant First Aid ($5,000), according to its 2024 IRS Form 990-PF. Together they received 47% of its itemized 2024 grant dollars.

How large is Gladys M Thomas Testamentary Trust?

Gladys M Thomas Testamentary Trust reported $500K in total assets on its 2024 IRS Form 990-PF. It paid out $39K in qualifying distributions that year, against a required minimum of $26K (roughly 5% of its investment assets).

What does Gladys M Thomas Testamentary Trust fund?

No mission statement for the Trust is provided. Its 2024 grants included community support and scholarships. See mission & focus areas ↑

How do I apply for a grant from Gladys M Thomas Testamentary Trust?

The filing says the Trust does not accept unsolicited requests; unsolicited grant requests will not be responded to. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑

What is Gladys M Thomas Testamentary Trust's EIN?

Gladys M Thomas Testamentary Trust's EIN (Employer Identification Number) is 02-6144776. IRS Form 990 filing data is available on this page for 2020–2024.

Does Gladys M Thomas Testamentary Trust accept unsolicited proposals?

No, according to Grantable's research on the foundation's published guidelines. See how to apply ↑

Data last updated September 2026. Sourced from IRS Form 990-PF filings. Research dossier generated September 2026.

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