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Nonprofit · EIN 52-2384603

GERALD AND CAROL GALGANO FOUNDATION INC

Tax-exempt · BELMAR, NJ 07719

Financials

$26K$117K2023$67K$63K2024
Revenue Expenses · by fiscal year end
Financials of GERALD AND CAROL GALGANO FOUNDATION INC by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990-PF$67,136$62,554$4,582$185,405$0$185,405
December 31, 2023990-PF$25,636$117,368-$91,732$180,696$0$180,696
Financial details: 990-PF for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$39,964
Dividends
$5,612
Net gain from sales of assets
$21,560

Expenses

Grants and similar amounts paid
$55,014
Compensation of officers, directors and key employees
$0
Disbursements for charitable purposes
$57,594
Excise tax on investment income
$309

Balance sheet and other

Total assets, start of year
$180,696
Total assets, end of year
$185,405
Total liabilities, end of year
$0
Net assets, end of year
$185,405
Fair market value of assets
$289,731
Qualifying distributions
$57,594
Net investment income
$27,172

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990-PF for the year ended December 31, 2024, highest compensation first.

NameTitleHours / weekCompensation
CAROL L GALGANO
308 4TH AVENUE, BELMAR, NJ 077192105
TRUSTEE1$0
GERALD A GALGANO
308 4TH AVENUE, BELMAR, NJ 077192105
TRUSTEE1$0
JIM GALGANO
497 CRANKSHAW PLACE, WYCKOFF, NJ 07480
TRUSTEE1$0
CHERYL GALGANO
497 CRANKSHAW PLACE, WYCKOFF, NJ 07480
TRUSTEE1$0
990-PF for the year ended December 31, 2023: 4 people
NameTitleHours / weekCompensation
CAROL L GALGANO
30 TALMADGE LANE, BASKING RIDGE, NJ 079202986
TRUSTEE1$0
GERALD A GALGANO
30 TALMADGE LANE, BASKING RIDGE, NJ 079202986
TRUSTEE1$0
JIM GALGANO
497 CRANKSHAW PLACE, WYCKOFF, NJ 07480
TRUSTEE1$0
CHERYL GALGANO
497 CRANKSHAW PLACE, WYCKOFF, NJ 07480
TRUSTEE1$0

Address and contacts

Address (IRS master file)
308 4TH AVE, BELMAR, NJ 07719-2105
In care of
% GERALD GALGANO
Signed the 990-PF
GERALD A GALGANO, TRUSTEE
Phone
(908) 451-7028
Return prepared by
HUNRATHNAPOLITANOQUIGLEY & TAYLORLLC

What it must file and when

IRS records say it files Form 990-PF. Private foundations file every year. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990-PF on file
2023December 31, 2023May 15, 2024990-PF on file

IRS record

EIN
52-2384603
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Private non-operating foundation
Donations deductible (Pub 78)
Private foundation, 30% limit
Exempt since
2004
Accounting year ends
December
Files
Form 990-PF
Assets (IRS master file)
$185,405
Income (IRS master file)
$104,649

Filing history

FormYear endedRevenueExpensesAssetsReturn
990-PFDecember 2024$67,136$62,554$185,405IRS
990-PFDecember 2023$25,636$117,368$180,696XML
990-PFDecember 2022–––IRS
990-PFDecember 2021–––IRS
990-PFDecember 2020–––IRS
990-PFDecember 2018–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 52-2384603).

Questions about GERALD AND CAROL GALGANO FOUNDATION INC

What is the EIN of GERALD AND CAROL GALGANO FOUNDATION INC?
The employer identification number (EIN) of GERALD AND CAROL GALGANO FOUNDATION INC is 52-2384603.
Is GERALD AND CAROL GALGANO FOUNDATION INC tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2004.
Are donations to GERALD AND CAROL GALGANO FOUNDATION INC tax-deductible?
Yes. It is listed in IRS Publication 78 (Private foundation, 30% limit).
Which annual return does GERALD AND CAROL GALGANO FOUNDATION INC file?
Form 990-PF. Private foundations file every year.
When is the next return of GERALD AND CAROL GALGANO FOUNDATION INC due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did GERALD AND CAROL GALGANO FOUNDATION INC last file with the IRS?
The latest return in the IRS public files is the 990-PF for the year ended December 2024.
Who are the officers and directors of GERALD AND CAROL GALGANO FOUNDATION INC?
The 990-PF for the year ended December 31, 2024 lists 4 people; 0 received compensation from the organization.
How much revenue does GERALD AND CAROL GALGANO FOUNDATION INC have?
On its 990-PF for the year ended December 31, 2024 it reported revenue of $67,136, expenses of $62,554 and total assets of $185,405 at year end.

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