The Gerald and Carol Galgano is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in BELMAR, NJ. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $185K in total assets. In 2024, it awarded 7 grants totaling $55K. Net investment income was $22K.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$185K
+2.6% YoY
Annual Giving
$55K
-49.5% YoY
Grant Count
7
-30.0% YoY
Avg Grant Size
$8K
-27.9% YoY
Under IRS private-foundation payout rules, The Gerald and Carol Galgano reported a distributable amount of $14K for 2024 — the minimum it must pay out in qualifying distributions.
About The Gerald and Carol Galgano
Based on IRS filings
The Gerald and Carol Galgano is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in BELMAR, NJ. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $185K in total assets. In 2024, it awarded 7 grants totaling $55K. Net investment income was $22K.
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 | $185,405 | $180,696 | $272,156 |
| Revenue | $67,136 | $25,636 | $74,596 |
| Expenses | $62,554 | $117,368 | $89,458 |
| Qualifying Distributions | $57,594 | $110,290 | $84,756 |
| Net Investment Income | $22,211 | $8,558 | $69,894 |
| Distributable Amount | $13,574 | $14,909 | $19,435 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 7 recipients in 2024
Grant Size Distribution
30 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Muhlenberg College ($16,514), Cento Amici ($11,500), Caring at Columbia ($10,000).
| Recipient | Purpose | Amount |
|---|---|---|
| CARING AT COLUMBIA NEW YORK, NY | CHARITABLE | $10,000 |
| CENTO AMICI WARREN, NJ | EDUCATION | $11,500 |
| FACES AT NYU LANGONE HEALTH NEW YORK, NY | CHARITABLE | $10,000 |
| HURLEY FAMILY FOUNDATION JERSEY CITY, NJ | CHARITABLE | $2,000 |
| MUHLENBERG COLLEGE ALLENTOWN, PA | EDUCATION | $16,514 |
| SUMMIT SPEECH SCHOOL NEW PROVIDENCE, NJ | CHARITABLE | $2,500 |
| PRINCETON CHILD DEVELOPMENT CENTER PRINCETON, NJ | CHARITABLE | $2,500 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| CAROL L GALGANO | TRUSTEE | 1 | — |
| GERALD A GALGANO | TRUSTEE | 1 | — |
| JIM GALGANO | TRUSTEE | 1 | — |
| CHERYL GALGANO | TRUSTEE | 1 | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is The Gerald and Carol Galgano?
The Gerald and Carol Galgano is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in BELMAR, NJ. It holds $185K in total assets as of 2024.
How large is The Gerald and Carol Galgano?
As of 2024, The Gerald and Carol Galgano holds $185K in total assets with $67K in annual revenue. It awarded 7 grants totaling $55K in 2024.
Where does The Gerald and Carol Galgano operate?
The Gerald and Carol Galgano has awarded grants in New Jersey, New York, Pennsylvania.
What size grants does The Gerald and Carol Galgano award?
In 2024, The Gerald and Carol Galgano awarded 7 grants totaling $55K — an average of about $8K per grant, based on its IRS Form 990 filings.
How much is The Gerald and Carol Galgano required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, The Gerald and Carol Galgano reported a distributable amount of $14K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is The Gerald and Carol Galgano's EIN?
The Gerald and Carol Galgano's EIN (Employer Identification Number) is 52-2384603. 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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