New Jersey Bankers Charitable Foundation Inc
New Jersey Bankers Charitable Foundation Inc is a private foundation focused on Education, based in Cranford, NJ. IRS filing data is available from 2019 through 2024. As of 2024, the organization holds $396K in total assets. In 2024, it awarded 2 grants totaling $33K. Net investment income was $5K.
New Jersey Bankers Charitable Foundation Inc at a glance
In short: New Jersey Bankers Charitable Foundation Inc gave $33K across 2 grants in 2024 (avg $16K), mostly in New Jersey. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $32,500
- -31.9% vs 2023
- Grants made (2024)
- 2
- -33.3% vs 2023
- Average grant
- $16,250
- +2.2% vs 2023
- Median grant
- $16,250
- Total assets
- $395,721
- -7.4% vs 2023
- Primary geography
- New Jersey (100% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990-PF, 2024 View filing
Data from IRS Form 990-PF, 2024; updated October 2026.
Who New Jersey Bankers Charitable Foundation Inc funds
How this funder distributes its grants
Top Recipients
Top 2 recipients in 2024
The largest 2024 recipient was NJ Submarine Commission Organization ($25K). Together the top 2 received $33K.
Grant Size Distribution
21 grants across all recorded years
The most common grant size was under $50K: 20 grants of 21 (95%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2024 grant dollars across all 2 itemized grants.
Cities
How New Jersey Bankers Charitable Foundation Inc gives
- Giving held roughly steady from 2021 to 2024 (−7%). Method
- In 2024 it paid out 163% of its IRS minimum distribution (the 5% rule). Method
From the foundation's IRS Form 990-PF filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2019 to 2024, annual grant giving ranged from $33K (2024) to $108K (2020). In 2024 it made 2 grants totaling $33K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| NJ Submarine Commission Organization Colts Neck, NJ | Awards - Veterans | $25,000 |
| Center for Entrepenuership - Masters for Veterans Lawrenceville, NJ | Awards - Veterans | $7,500 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2024 | $395,721 | $5,110 | $36,613 | $32,500 | 2 | $32,500 | $5,110 | $19,935 |
| 2023 | $427,224 | $29,411 | $51,598 | $47,689 | 3 | $50,038 | $2,851 | $21,469 |
| 2022 | $449,411 | $62,315 | $65,312 | $62,500 | 7 | $63,946 | — | $20,491 |
| 2021 | $452,408 | $41,335 | $39,787 | $35,000 | 3 | $37,755 | $975 | $21,933 |
| 2020 | $450,860 | $9,388 | $110,920 | $107,500 | 6 | — | $5,563 | $23,015 |
| 2019 | $552,392 | $34,530 | $36,498 | $35,000 | 3 | — | $5,185 | $26,482 |
Under IRS private-foundation payout rules, New Jersey Bankers Charitable Foundation Inc reported a distributable amount of $20K for 2024 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
New Jersey Bankers Charitable Foundation Inc is led by MICHAEL P AFFUSO Esq., Chair since 2023 (on filings since 2019); none of the 15 officers listed in 2024 report compensation.
Officers on the 2024 filing
MICHAEL P AFFUSO Esq.
Chair
Secretary & Treasurer → Chairman & Trustee, 2022
Chairman & Trustee → Chair, 2023
On filings since 2019
0.2 hrs/week
No compensation reported
James Silkensen
Trustee
On filings since 2019
0.2 hrs/week
No compensation reported
Robert E. Stillwell
Trustee
On filings since 2019
0.2 hrs/week
No compensation reported
Steven M. Klein
Trustee
On filings since 2019
0.2 hrs/week
No compensation reported
Christopher D Maher
Trustee - Term.
Trustee → Trustee - Term., 2024
On filings since 2020
0.2 hrs/week
No compensation reported
Matthew Cooney
Trustee
On filings since 2020
0.2 hrs/week
No compensation reported
Patrick L. Ryan
Trustee
On filings since 2020
0.2 hrs/week
No compensation reported
Ira Robbins
Trustee
On filings since 2022
0.2 hrs/week
No compensation reported
John Mangini
Ex-Officio Trustee
Secretary & Teasurer → Ex-Officio Trustee, 2023
On filings since 2022
0.5 hrs/week
No compensation reported
Craig L. Montanaro
Trustee
On filings since 2023
0.2 hrs/week
No compensation reported
Jane E. Rey
Trustee - Term.
Trustee → Trustee - Term., 2024
On filings since 2023
0.2 hrs/week
No compensation reported
John M. Bonhomme
Trustee
On filings since 2023
0.2 hrs/week
No compensation reported
Anthony Labozzetta
Trustee -
New on the 2024 filing
0.2 hrs/week
No compensation reported
Elizabeth Magennis
Trustee-
New on the 2024 filing
0.2 hrs/week
No compensation reported
Brittany Wheeler
Ex-Officio Member
New on the 2024 filing
0.2 hrs/week
No compensation reported
Former officers (22)
- Former: John E. McWeeney (2019–2022) — Chairman & Trustee
- Former: John Fitzgerald (2019–2022) — Trustee
- Former: Kevin B. Peterson (2019–2022) — Trustee
- Former: Jorge Gomes (2021–2022) — Trustee
- Former: Effie Gikas (2022) — Trustee
- Former: Rohit Mehrotra (2022) — Trustee
- Former: Tom Kemly (2022) — Trustee
- Former: Tom Shara (2022) — Trustee
- Former: William Taylor (2022) — Trustee
- Former: Larry C. Schmidt (2019–2021) — Trustee
- Former: Thomas Kemly (2019–2021) — Trustee
- Former: Thomas Shara (2019–2021) — Trustee
- Former: Robert E Curley (2020–2021) — Trustee
- Former: Bill Taylor (2021) — Trustee
- Former: Joanna DiCiurcio (2021) — Trustee
- Former: Michael O'Brien (2019–2020) — Trustee
- Former: Samuel J. Damiano (2019–2020) — Trustee
- Former: Thomas Lupo (2019–2020) — Trustee
- Former: William Moss (2019–2020) — Trustee
- Former: Richard P. Siderko (2020) — Trustee
- Former: James Vaccaro (2019) — Trustee
- Former: Louis Anthony Costantino (2019) — Trustee
Data from IRS Form 990 filings, 2019–2024. "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 New Jersey Bankers Charitable Foundation Inc
How much does New Jersey Bankers Charitable Foundation Inc give each year?
New Jersey Bankers Charitable Foundation Inc gave $33K across 2 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $48K across 3 grants.
How large is New Jersey Bankers Charitable Foundation Inc?
New Jersey Bankers Charitable Foundation Inc reported $396K in total assets on its 2024 IRS Form 990-PF. It paid out $33K in qualifying distributions that year, against a required minimum of $20K (roughly 5% of its investment assets).
What is New Jersey Bankers Charitable Foundation Inc?
New Jersey Bankers Charitable Foundation Inc is a private foundation focused on Education, based in Cranford, NJ. It holds $396K in total assets as of 2024.
Where does New Jersey Bankers Charitable Foundation Inc operate?
New Jersey Bankers Charitable Foundation Inc has awarded grants in California, District of Columbia, Florida, Kentucky, New Jersey, Pennsylvania.
What is New Jersey Bankers Charitable Foundation Inc's EIN?
New Jersey Bankers Charitable Foundation Inc's EIN (Employer Identification Number) is 34-2025283. IRS Form 990 filing data is available on this page for 2019–2024.
Data last updated October 2026. Sourced from IRS Form 990-PF filings.
Data update history
(2)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2019 (received by the IRS June 17, 2020)
- IRS filings on file for fiscal years 2019–2024
Explore Open Grants
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