Gladys M Thomas Testamentary Trust is a private foundation focused on Human Services, based in POINT PLEASANT, NJ. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $500K in total assets. In 2024, it awarded 10 grants totaling $32K. Net investment income was $37K.
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.
About Gladys M Thomas Testamentary Trust
Based on IRS filings
Gladys M Thomas Testamentary Trust is a private foundation focused on Human Services, based in POINT PLEASANT, NJ. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $500K in total assets. In 2024, it awarded 10 grants totaling $32K. Net investment income was $37K.
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 | $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 |
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
34 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include SRSA Children's Trout Tournament ($5,000), Community Fdn of the Florida Keys ($5,000), Point Pleasant First Aid ($5,000).
| Recipient | Purpose | Amount |
|---|---|---|
| SRSA Children's Trout Tournament SPring Lake, NJ | Community Support | $5,000 |
| Community Fdn of the Florida Keys Key West, FL | Scholarships | $5,000 |
| St Gregory's Pantry Point Pleasant Beach, NJ | Community Support | $2,000 |
| Point Pleasant Library Point Pleasant Boro, NJ | Community Support | $2,000 |
| Ocean Housing Alliance Point Pleasant Beach, NJ | Community Support | $2,000 |
| Point Pleasant First Aid Point Pleasant Beach, NJ | Community Support | $5,000 |
| Ocean Fire Company #1 Point Pleasant Beach, NJ | Community Support | $5,000 |
| Marine Mammal Stranding Center Brigantine, NJ | Community Support | $2,000 |
| Jersey Shore Rescue Mission Asbury Park, NJ | Community Support | $2,000 |
| Save Barnegat Bay Toms River, NJ | Community Support | $2,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Peter D Kearns | Trustee | 2 | $4,654 |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is Gladys M Thomas Testamentary Trust?
Gladys M Thomas Testamentary Trust is a private foundation focused on Human Services, based in POINT PLEASANT, NJ. It holds $500K in total assets as of 2024.
How large is Gladys M Thomas Testamentary Trust?
As of 2024, Gladys M Thomas Testamentary Trust holds $500K in total assets with $37K in annual revenue. It awarded 10 grants totaling $32K in 2024.
Where does Gladys M Thomas Testamentary Trust operate?
Gladys M Thomas Testamentary Trust has awarded grants in Florida, New Jersey, New York.
What size grants does Gladys M Thomas Testamentary Trust award?
In 2024, Gladys M Thomas Testamentary Trust awarded 10 grants totaling $32K — an average of about $3K per grant, based on its IRS Form 990 filings.
How much is Gladys M Thomas Testamentary Trust required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Gladys M Thomas Testamentary Trust reported a distributable amount of $26K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
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.
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Data last updated April 2026. Sourced from IRS Form 990-PF filings.
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