Cullen Family Foundation

## Approach Strategy

The Cullen Family Foundation is a family-run private foundation with no public application process and no website. Access requires a direct personal relationship with James G. Cullen or family members, or through trusted mutual connections.

Key Background: James G. Cullen served as President and Chief Operating Officer of Bell Atlantic Corporation, a role he held through the landmark merger with GTE Corporation that created Verizon Communications in 2000. He was a key architect of modern American telecommunications infrastructure. The foundation was established in 2001, immediately following the Verizon merger — a common pattern where senior executives establish philanthropic vehicles after major corporate transitions.

Recommended Approach:

1. Identify shared board connections. Organizations with board members who have Verizon, Bell Atlantic, or New Jersey telecommunications sector ties may have natural alignment. Cullen's professional network includes senior telecom executives, New Jersey corporate leadership, and Cape May County civic leaders.

2. Stone Harbor/Cape May County local organizations. Stone Harbor is a barrier island community in Cape May County, NJ. Local organizations serving Cape May County (beach preservation, environmental, civic, educational) may have natural access to the Cullens as local summer residents.

3. No unsolicited approaches. Do not send unsolicited grant requests to the foundation address. This will be ineffective and potentially counterproductive for a family foundation of this type.

4. Leverage NJ nonprofit networks. The New Jersey Center for Nonprofits and NJ philanthropic networks may have insight into the foundation's giving history and appropriate approach channels.

5. Realistic grant size expectations. Annual grantmaking of $73,000–$94,000 spread across multiple recipients suggests typical grants of $5,000–$20,000. Multi-year grants are possible but not documented.

## Funding Patterns

Based on IRS 990-PF filings from fiscal years 2011–2023 (calendar year, December 31 fiscal year-end):

Grantmaking History:

• FY2023: $73,000 in grants paid ($73,349 qualified distributions)
• FY2022: $94,000 in grants paid ($77,759 qualified distributions) — peak recent year
• FY2021: $89,500 in grants paid ($85,076 qualified distributions)
• FY2020: $81,500 in grants paid ($75,326 qualified distributions)
• FY2019: $80,250 in grants paid ($76,990 qualified distributions)
• FY2015: $55,000 in grants paid ($73,427 qualified distributions)
• FY2014: $44,905 in grants paid ($74,960 qualified distributions)
• FY2013: $37,000 in grants paid ($71,015 qualified distributions)
• FY2012: $55,000 in grants paid ($67,767 qualified distributions)
• FY2011: $15,000 in grants paid ($68,296 qualified distributions)

Key Observations: - Grantmaking increased substantially from 2011–2022: from $15,000 to $94,000 per year - The jump from $55,000 in 2015 to $80,000+ in 2019 suggests a deliberate increase in charitable commitment - FY2022 was a peak year ($94,000) with a slight pullback in FY2023 ($73,000) — potentially reflecting market conditions - Revenue has been strong ($82,874 in FY2023, $135,964 in FY2021) suggesting active investment management - Total assets have been relatively stable ($1.26M–$1.40M) over 13 years despite growing distributions, indicating positive investment returns

Distribution Mechanics: - Fiscal year: January 1 – December 31 - NTEE code: T22 (Private Independent Foundations) - Foundation code 4: Private non-operating (makes grants, does not conduct programs) - Individual grant count (estimated): 4–10 grants per year at $5,000–$20,000 each - No program-related investments or loans documented

## Peer Comparison

Comparable New Jersey private family foundations with similar asset base (~$1.33M) and grantmaking profiles:

Analysis:

• The Cullen Family Foundation's distribution rate (~6.5% of assets in FY2022, ~5.5% in FY2023) is notably higher than the IRS-required 5% minimum, reflecting a generous philanthropic commitment.
• Among the closest NJ peers, the Anbinder Family Foundation ($100,020 annual distributions) distributes at a slightly higher rate, but Cullen's payout is within the upper range for this asset tier.
• All peer foundations are private independent foundations with no public websites, consistent with the family foundation model at this asset level.
• Cullen's total grantmaking growth trajectory (from $15K in 2011 to $94K in 2022) significantly outpaces most same-size peers, suggesting an actively engaged founding donor increasing philanthropic commitment over time.
• Stone Harbor, NJ is an affluent shore community — consistent with a retired corporate executive's primary or secondary residence.

## Recent Activity

FY2023 (calendar year ending December 31, 2023): - Grants paid: $73,000 (pullback from FY2022 peak of $94,000) - Qualified distributions: $73,349 - Total assets: $1,297,460 (slight decline from $1,289,125 in FY2022) - Revenue: $82,874 - Asset level stable in the $1.26M–$1.40M range

FY2022 (calendar year ending December 31, 2022): - Grants paid: $94,000 — highest in available filing history - Qualified distributions: $77,759 - Total assets end of year: $1,289,125

FY2021 (calendar year ending December 31, 2021): - Grants paid: $89,500 - Revenue: $135,964 (strong investment year) - Assets: $1,302,613

Trend Analysis: The foundation has maintained consistent grantmaking in the $73,000–$94,000 range since FY2019, a step-change from the earlier $37,000–$55,000 range. This suggests a deliberate decision around 2018–2019 to significantly increase the foundation's charitable footprint. The FY2023 pullback to $73,000 may reflect the founder taking a more conservative distribution approach given market conditions or personal circumstances.

Note: The foundation's latest 990-PF (for FY2024, tax period ending December 2024) has an object_id in the IRS system (202513219349108811) but the XML has not yet been indexed publicly. IRS financial data current through FY2023.

## Application Tips

1. No public application exists. The Cullen Family Foundation has no website, no published guidelines, and no grant application portal. Standard prospecting approaches are ineffective.

2. Personal connections are essential. This foundation's grantmaking reflects James G. Cullen's personal charitable interests and relationships. A personal referral from someone who knows Cullen directly — a mutual board member, civic leader, or professional colleague — is the only realistic pathway to a grant.

3. Identify board or professional connections to Bell Atlantic / Verizon. Cullen's most durable professional network comes from his telecom career (Bell Atlantic, Verizon). Organizations with board members who worked at Bell Atlantic or Verizon in the 1990s–2000s, or who serve on the same boards as Cullen, may have natural access.

4. Target Cape May County organizations. Stone Harbor is in Cape May County, NJ. Local environmental, educational, community, or civic organizations in the Cape May area may receive grants given their proximity to the Cullens' residence. Stone Harbor-based charities are prime candidates.

5. Align with general charitable purposes. Without public guidelines, approach with broad charitable framing: education, community development, environmental stewardship (appropriate for a shore community), youth programs, or healthcare. Avoid highly specialized or niche proposals.

6. Grant size realism. Total annual grantmaking is $73,000–$94,000. A reasonable first-time grant request would be $5,000–$15,000. Repeat relationships may grow to $20,000–$30,000 over time.

7. Timing. The fiscal year runs January–December. Outreach in Q1 or Q2 (January–June) positions you for potential Q3–Q4 distribution decisions.

8. Patience. Family foundations of this type move on their own timeline. Do not expect rapid responses or formal acknowledgment. Build the relationship before making any formal request.