The Hovsep Foundation is a private foundation focused on Education, based in UNION, NJ. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $1.0M in total assets. In 2024, it awarded 4 grants totaling $266K. Net investment income was $8K.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$1.0M
-8.2% YoY
Annual Giving
$266K
+204.0% YoY
Grant Count
4
-20.0% YoY
Avg Grant Size
$67K
+280.0% YoY
Under IRS private-foundation payout rules, The Hovsep Foundation reported a distributable amount of $50K for 2024 — the minimum it must pay out in qualifying distributions.
About The Hovsep Foundation
Based on IRS filings
The Hovsep Foundation is a private foundation focused on Education, based in UNION, NJ. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $1.0M in total assets. In 2024, it awarded 4 grants totaling $266K. Net investment income was $8K.
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 | $1,008,862 | $1,099,480 | $1,084,520 |
| Revenue | $7,767 | $7,667 | $5,293 |
| Expenses | $266,000 | $87,560 | $75,075 |
| Qualifying Distributions | $266,000 | $87,500 | $75,000 |
| Net Investment Income | $7,767 | $7,667 | $5,293 |
| Distributable Amount | $49,578 | $72,282 | $54,010 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 4 recipients in 2024
Grant Size Distribution
22 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Diocese of the Armenian Church ($240,000), Anca Endowment Fund ($13,000), Tufenkian Foundation ($10,000).
| Recipient | Purpose | Amount |
|---|---|---|
| TUFENKIAN FOUNDATION NEW YORK, NY | SOCIAL SERVICE | $10,000 |
| TUMO FOUNDATION DALLAS, TX | SOCIAL SERVICES | $3,000 |
| ANCA ENDOWMENT FUND WASHINGTON, DC | SOCIAL SERVICES | $13,000 |
| DIOCESE OF THE ARMENIAN CHURCH NEW YORK, NY | SOCIAL SERVICES | $240,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| ERROL KARAKASH | EXECUTIVE DI | 2 | — |
| SERGE KARAKASH | TRUSTEE | 2 | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is The Hovsep Foundation?
The Hovsep Foundation is a private foundation focused on Education, based in UNION, NJ. It holds $1.0M in total assets as of 2024.
How large is The Hovsep Foundation?
As of 2024, The Hovsep Foundation holds $1.0M in total assets with $8K in annual revenue. It awarded 4 grants totaling $266K in 2024.
Where does The Hovsep Foundation operate?
The Hovsep Foundation has awarded grants in California, District of Columbia, Massachusetts, New Jersey, New York, Texas.
What size grants does The Hovsep Foundation award?
In 2024, The Hovsep Foundation awarded 4 grants totaling $266K — an average of about $67K per grant, based on its IRS Form 990 filings.
How much is The Hovsep Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, The Hovsep Foundation reported a distributable amount of $50K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is The Hovsep Foundation's EIN?
The Hovsep Foundation's EIN (Employer Identification Number) is 84-2377028. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in The Hovsep Foundation'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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