Janice Michelle Foundation Inc
Janice Michelle Foundation Inc is a private foundation, based in New York, NY. IRS filing data is available from 2019 through 2025. As of 2025, the organization holds $2.3M in total assets. In 2025, it awarded 1 grant totaling $110K. Net investment income was $56K.
Key facts about Janice Michelle Foundation Inc
In short: Janice Michelle Foundation Inc gave $110K across 1 grant in 2025 (avg $110K), mostly in New York. Source: 2025 IRS Form 990-PF.
- EIN
- 11-3458719
- Latest 990 filing
- Form 990-PF, 2025
- Annual giving (2025)
- $109,900
- Grants made (2025)
- 1
- Average grant
- $109,900
- Median grant
- $109,900
- Total assets
- $2,332,916
- Primary geography
- New York (100% of itemized 2025 grant dollars)
Data from IRS Form 990-PF, 2025; updated September 2026.
Financial Overview
From 2025 IRS Form 990-PF · View filing
Total Assets
$2.3M
-2.5% YoY
Annual Giving
$110K
+99.6% YoY
Grant Count
1
+0.0% YoY
Avg Grant Size
$110K
+99.6% YoY
Under IRS private-foundation payout rules, Janice Michelle Foundation Inc reported a distributable amount of $126K for 2025 — the minimum it must pay out in qualifying distributions.
How Janice Michelle Foundation Inc gives
- Giving grew 31% from 2022 to 2025. Method
- In 2025 it paid out 90% 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.
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of the 2025 grant dollars on its one itemized grant.
States
Cities
Giving Over Time
Total grant dollars and number of grants per year
From 2019 to 2025, annual grant giving ranged from $44K (2021) to $175K (2019). In 2025 it made 1 grant totaling $110K.
Grant Insights
How this funder distributes its grants
Grant Size Distribution
5 grants across all recorded years
The most common grant size was in the $50–100K range: 3 grants of 5 (60%).
Giving History
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| See Schedule 2 New York, NY | The purpose of the above contributions is to aid each donee organization in carrying out its exempt function. | $109,900 |
Financial History
Multi-year comparison from IRS filings
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | $2,332,916 | $2,393,236 | $2,245,119 |
| Revenue | $82,239 | $219,875 | $65,878 |
| Expenses | $142,559 | $71,758 | $110,089 |
| Qualifying Distributions | $113,720 | $58,568 | $102,320 |
| Net Investment Income | $55,750 | $203,229 | $30,821 |
| Distributable Amount | $125,713 | $116,704 | $107,658 |
Data update history
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2019 (received by the IRS February 13, 2020)
- Updated Form 990-PF for fiscal year 2020 (received by the IRS February 11, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS February 14, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS February 14, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS February 14, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS February 13, 2025)
- Updated Form 990-PF for fiscal year 2025 (received by the IRS February 11, 2026)
- IRS filings on file for fiscal years 2019–2025
Leadership & Key People
Officers and directors from IRS filings
Janice Michelle Foundation Inc is led by George Varsam, President & Treasurer on every filing since 2019; none of the 6 officers listed in 2025 report compensation.
Officers on the 2025 filing
George Varsam
President & Treasurer
On filings since 2019
No compensation reported
James Varsam
Director
New on the 2025 filing
No compensation reported
John Varsam
Director
New on the 2025 filing
No compensation reported
Nicholas Varsam
Director
New on the 2025 filing
No compensation reported
Philip Varsam
Director
New on the 2025 filing
No compensation reported
Lori Varsam
Vice President & Secretary
On filings since 2019
No compensation reported
Former officers (2)
- Former: Alex Zawoloka (2019–2024) — Vice President
- Former: Fotios Varsam (2019–2023) — Vice President
Data from IRS Form 990 filings, 2019–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Frequently asked questions about Janice Michelle Foundation Inc
How much does Janice Michelle Foundation Inc give each year?
Janice Michelle Foundation Inc gave $110K across 1 grant in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $55K across 1 grant.
How large is Janice Michelle Foundation Inc?
Janice Michelle Foundation Inc reported $2.3M in total assets on its 2025 IRS Form 990-PF. It paid out $114K in qualifying distributions that year, against a required minimum of $126K (roughly 5% of its investment assets). Falling short in one year is not a violation: foundations have until the end of the next year to meet the minimum.
Where does Janice Michelle Foundation Inc operate?
Janice Michelle Foundation Inc has awarded grants in New York.
What is Janice Michelle Foundation Inc's EIN?
Janice Michelle Foundation Inc's EIN (Employer Identification Number) is 11-3458719. IRS Form 990 filing data is available on this page for 2019–2025.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
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