Torcivia Family Foundation
The Torcivia Family Foundation is a private foundation based in Red Bank, New Jersey. The foundation reflects the philanthropic interests of the Torcivia family, a prominent New Jersey business family with deep roots in the construction industry.
Financial Overview
From 2025 IRS Form 990-PF · View filing
Total Assets
$2.2M
-12.5% YoY
Annual Giving
$559K
+5.4% YoY
Grant Count
24
+41.2% YoY
Avg Grant Size
$23K
-25.4% YoY
Grantmaking
The foundation awarded a **$1 million grant to Seton Hall University**, demonstrating significant support for higher education institutions.
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Geographic Focus
Where this funder awards grants
The foundation operates primarily in New Jersey, with a particular connection to the Red Bank area and surrounding communities in Monmouth County.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
Based on the most recent IRS Form 990 filing (2024):
- Total Assets: $2,502,055
- Total Giving: $530,730
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | $2,189,698 | $2,502,055 | $2,811,685 |
| Revenue | $250,068 | $225,269 | $206,296 |
| Expenses | $562,425 | $534,899 | $609,953 |
| Qualifying Distributions | $560,125 | $532,065 | $601,500 |
| Net Investment Income | $247,945 | $222,435 | $203,846 |
| Distributable Amount | $142,341 | $147,860 | $165,595 |
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 2025
Grant Size Distribution
100 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
The foundation is connected to the Torcivia family, including:
Benedict J. Torcivia, Jr. – Co-President of Torcon, Inc. (the family's construction management and general contracting company). He was named one of Monmouth University's 2015 Distinguished Business Leaders and serves on the Riverview Medical Center Foundation Board of Trustees.
Joseph A. Torcivia – Co-President of Torcon, Inc., also named one of Monmouth University's 2015 Distinguished Business Leaders.
Benedict J. Torcivia Sr. (1930-2012) – Founder and chairman of Torcon, Inc., established in 1965. The foundation was established in his memory, with an endowed scholarship created at Monmouth University's Leon Hess Business School in his name.
Robert Torcivia & Michelle Torcivia Madsen – Family members involved in philanthropic planning and strategy.
Compensation Overview
From 2025 IRS filing
From 2025 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| BENEDICT TORCIVIA JR | CO-PRESIDENT & SECRETARY | 10 | — |
| JOSEPH TORCIVIA | CO-PRESIDENT & TREASURER | 10 | — |
Recent Grantmaking Activity
Recent developments and announcements
The foundation awarded a **$1 million grant to Seton Hall University**, demonstrating significant support for higher education institutions.
Seton Hall gets $1M grant from Torcivia Family Foundation - NJBIZRelated Funders
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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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