The Gerald and Carol Galgano
The Gerald and Carol Galgano is a private foundation, 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.
The Gerald and Carol Galgano at a glance
In short: The Gerald and Carol Galgano gave $55K across 7 grants in 2024 (avg $8K), top state New York. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $55,014
- -49.5% vs 2023
- Grants made (2024)
- 7
- -30.0% vs 2023
- Average grant
- $7,859
- -27.9% vs 2023
- Median grant
- $10,000
- Total assets
- $185,405
- +2.6% vs 2023
- Primary geography
- New York (36% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990-PF, 2024 View filing
Data from IRS Form 990-PF, 2024; updated September 2026.
Who The Gerald and Carol Galgano funds
How this funder distributes its grants
Top Recipients
Top 7 recipients in 2024
The largest 2024 recipient was Muhlenberg College ($17K). Together the top 7 received $55K.
Grant Size Distribution
30 grants across all recorded years
The most common grant size was under $50K: 29 grants of 30 (97%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2024 grant dollars across all 7 itemized grants.
Cities
How The Gerald and Carol Galgano gives
- Giving fell 33% from 2021 to 2024. Method
- In 2024 it paid out 424% 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 2020 to 2024, annual grant giving ranged from $43K (2020) to $109K (2023). In 2024 it made 7 grants totaling $55K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Muhlenberg College Allentown, PA | Education | $16,514 |
| Cento Amici Warren, NJ | Education | $11,500 |
| Caring at Columbia New York, NY | Charitable | $10,000 |
| Faces at NYU Langone Health New York, NY | Charitable | $10,000 |
| Summit Speech School New Providence, NJ | Charitable | $2,500 |
| Princeton Child Development Center Princeton, NJ | Charitable | $2,500 |
| Hurley Family Foundation Jersey City, NJ | Charitable | $2,000 |
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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 | $185,405 | $67,136 | $62,554 | $55,014 | 7 | $57,594 | $22,211 | $13,574 |
| 2023 | $180,696 | $25,636 | $117,368 | $109,000 | 10 | $110,290 | $8,558 | $14,909 |
| 2022 | $272,156 | $74,596 | $89,458 | $83,500 | 5 | $84,756 | $69,894 | $19,435 |
| 2021 | $286,784 | $29,585 | $88,742 | $82,000 | 3 | $83,425 | $24,268 | $23,960 |
| 2020 | $347,408 | $45,261 | $46,975 | $42,876 | 5 | — | $41,162 | $21,128 |
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.
Leadership & Key People
Officers and directors from IRS filings
The Gerald and Carol Galgano's 2024 filing lists 4 officers; none of the 4 officers listed in 2024 report compensation.
Officers on the 2024 filing
Carol L. Galgano
Trustee
On filings since 2020
1 hr/week
No compensation reported
Cheryl Galgano
Trustee
On filings since 2020
1 hr/week
No compensation reported
Gerald A. Galgano
Trustee
On filings since 2020
1 hr/week
No compensation reported
Jim Galgano
Trustee
On filings since 2020
1 hr/week
No compensation reported
Data from IRS Form 990 filings, 2020–2024. "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 The Gerald and Carol Galgano
How much does The Gerald and Carol Galgano give each year?
The Gerald and Carol Galgano gave $55K across 7 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $109K across 10 grants.
What is The Gerald and Carol Galgano's typical grant size?
The Gerald and Carol Galgano's median grant in 2024 was $10,000, and its average grant was $7,859, across 7 grants on its 2024 IRS Form 990-PF.
Where does The Gerald and Carol Galgano give grants?
The Gerald and Carol Galgano's top state is New York, with 36% of the grant dollars itemized on its 2024 IRS Form 990-PF. The next largest states were New Jersey (34%) and Pennsylvania (30%). The most frequent recipient cities were New York, NY (2 grants).
Does The Gerald and Carol Galgano give general operating support?
Not in 2024: none of the 7 grants with a stated purpose on The Gerald and Carol Galgano's 2024 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Charitable" (5 grants).
Who are The Gerald and Carol Galgano's largest grantees?
The Gerald and Carol Galgano's largest 2024 grantees include Muhlenberg College ($16,514), Cento Amici ($11,500) and Caring at Columbia ($10,000), according to its 2024 IRS Form 990-PF. Together they received 69% of its itemized 2024 grant dollars.
How large is The Gerald and Carol Galgano?
The Gerald and Carol Galgano reported $185K in total assets on its 2024 IRS Form 990-PF. It paid out $58K in qualifying distributions that year, against a required minimum of $14K (roughly 5% of its investment assets).
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.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Data update history
(1)
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
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