Tina and Richard V Carolan Foundation
The Tina and Richard V Carolan Foundation is a family foundation established in 1990 and located in Mendham, New Jersey. The foundation is a 501(c)(3) organization dedicated to providing charitable donations to nonprofit organizations that enhance technology, access, or well-being for individuals and communities.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$18.0M
-3.2% YoY
Annual Giving
$1.1M
+7.3% YoY
Grant Count
19
+11.8% YoY
Avg Grant Size
$58K
-4.0% YoY
Mission & Focus Areas
Mission Statement: The foundation's mission is to provide charitable donations to nonprofit organizations that directly impact the lives of people and organizations while improving the technology, access, or well-being of those people.
Primary Funding Areas:
- Medical field and medical research
- Building development
- Athletics
- Humanitarian relief
- Christian missionary work
- Youth outreach initiatives
- Education
Specific Organizations and Programs Supported:
- Memorial Sloan Kettering Cancer Center
- Morristown Memorial Hospital and Foundation for Morristown Medical Center
- Miami School of Business
- USA Cycling Development Foundation
- New Jersey Interscholastic Mountain Bike League
- Star Track
- Brown Emergency Medicine (Brown University for Rwanda Medical Relief)
- Siskin Children's Institute
- Lebanon Relief
- Armenian Apostolic Church of America
- Everlasting Hope Ministries
- Our Lady of Perpetual Help
- University of Miami's Rescue a Reef program
- Magic City K9
- Best Buddies International
- Stafford DARE Program
Grantmaking
The foundation made 19 grants in the most recent reporting year. Recent grants include:
Review Cycle
.
How to Apply
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Geographic Focus
Where this funder awards grants
The foundation primarily funds nonprofit organizations in New Jersey, with additional giving in California and New York.
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
Most Recent Financial Data (2024):
- Total assets: $17,985,016
- Total revenues: $823,672
- Total expenses: $1,421,205
Prior Financial Data (2023):
- Total assets: $18,582,549
- Total giving: $1,023,500
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $17,985,016 | $18,582,549 | $8,253,191 |
| Revenue | $823,672 | $11,526,545 | $660,628 |
| Expenses | $1,421,205 | $1,197,187 | $1,087,138 |
| Qualifying Distributions | $1,153,632 | $1,075,500 | $947,800 |
| Net Investment Income | $533,885 | $10,404,858 | $552,290 |
| Distributable Amount | $1,141,467 | $861,418 | $958,138 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
91 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
- Tina Carolan — President
- Richard Carolan — Executive Director and Vice President
- Kim Carolan — Secretary
- Alana Carolan — Director of Donor Relations
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| TINA CAROLAN | PRESIDENT | 0.25 | — |
| RICHARD C CAROLAN | VICE-PRESIDENT AND TREASURER | 0.5 | $50,000 |
| KIMBERLY CAROLAN-FAGA | VICE PRESIDENT AND SECRETARY | 0.25 | — |
| ALANA CAROLAN | DIRECTOR OF DONOR RELATIONS | 0.5 | $25,000 |
Contact Information
- Address: 88 E Main Street, Suite 507, Mendham, NJ 07945-1832
- Phone: 908-766-1040
- Email: carolanfoundation@gmail.com
- Website: www.carolanfoundation.com
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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