Gormley Family Foundation Inc
Gormley Family Foundation Inc is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in ATLANTIC CITY, NJ. IRS filing data is available from 2021 through 2024. As of 2024, the organization holds $549K in total assets. In 2024, it awarded 27 grants totaling $105K. Net investment income was $42K.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$549K
+3.3% YoY
Annual Giving
$105K
-8.0% YoY
Grant Count
27
+8.0% YoY
Avg Grant Size
$4K
-14.8% YoY
Under IRS private-foundation payout rules, Gormley Family Foundation Inc reported a distributable amount of $37K for 2024 — the minimum it must pay out in qualifying distributions.
About Gormley Family Foundation Inc
Based on IRS filings
Gormley Family Foundation Inc is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in ATLANTIC CITY, NJ. IRS filing data is available from 2021 through 2024. As of 2024, the organization holds $549K in total assets. In 2024, it awarded 27 grants totaling $105K. Net investment income was $42K.
Focus Areas
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $549,077 | $531,344 | $643,334 |
| Revenue | $123,850 | $3,119 | $243,167 |
| Expenses | $106,117 | $115,109 | $93,324 |
| Qualifying Distributions | $104,502 | $113,550 | $91,500 |
| Net Investment Income | $42,440 | $6,118 | $4,590 |
| Distributable Amount | $37,495 | $33,783 | $22,419 |
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
71 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include AtlantiCare Foundation ($35,000), American Jewish Committee ($10,000), Stockton University ($10,000).
| Recipient | Purpose | Amount |
|---|---|---|
| American Jewish Committee New York, NY | Unrestricted | $10,000 |
| American Legion Indianapolis, IN | Unrestricted | $500 |
| Atlantic City Day Nursery Atlantic City, NJ | Unrestricted | $125 |
| Atlantic County Institute of Technology Mays Landing, NJ | Unrestricted | $1,000 |
| Atlantic Youth Orchestra Absecon, NJ | Unrestricted | $5,000 |
| AtlantiCare Foundation Egg Harbor Township, NJ | Unrestricted | $35,000 |
| Belmar St Patrick's Day Parade Committee Belmar, NJ | Unrestricted | $1,000 |
| Chief Arthur Brown Jr Memorial Scholarship Foundation Atlantic City, NJ | Unrestricted | $500 |
| Daughters for the Daughters of Our Lady of the Sacred Heart Margate City, NJ | Unrestricted | $5,000 |
| Ed Perugini '64 Memorial Fund Richland, NJ | Unrestricted | $1,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| William L Gormley | Trustee | 0.5 | — |
| Lee A Levine | Trustee | 0.5 | — |
| Alan C Staller | Trustee | 0.5 | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is Gormley Family Foundation Inc?
Gormley Family Foundation Inc is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in ATLANTIC CITY, NJ. It holds $549K in total assets as of 2024.
How large is Gormley Family Foundation Inc?
As of 2024, Gormley Family Foundation Inc holds $549K in total assets with $124K in annual revenue. It awarded 27 grants totaling $105K in 2024.
Where does Gormley Family Foundation Inc operate?
Gormley Family Foundation Inc has awarded grants in California, Indiana, Louisiana, New Jersey, New York, Pennsylvania.
What size grants does Gormley Family Foundation Inc award?
In 2024, Gormley Family Foundation Inc awarded 27 grants totaling $105K — an average of about $4K per grant, based on its IRS Form 990 filings.
How much is Gormley Family Foundation Inc required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Gormley Family Foundation Inc reported a distributable amount of $37K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Gormley Family Foundation Inc's EIN?
Gormley Family Foundation Inc's EIN (Employer Identification Number) is 85-3863421. IRS Form 990 filing data is available on this page for 2021–2024.
Explore Open Grants
Browse active grant opportunities in Gormley Family Foundation Inc's focus areas in our free grants database
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Data last updated April 2026. Sourced from IRS Form 990-PF filings.
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