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Gem Foundation Inc. is a private corporation based in FAR HILLS, NJ. The foundation received its IRS ruling in 2007. The principal officer is Putnam L Crafts Jr. It holds total assets of $6.2M. Annual income is reported at $315K. Total assets have grown from $1.4M in 2011 to $5.9M in 2023. The foundation is governed by 4 officers and trustees. The foundation operates in the area of philanthropy & grantmaking. According to its most recent filing, the foundation only makes contributions to preselected charitable organizations. Tax records are available from 2016 to 2023. According to available records, Gem Foundation Inc. has made 4 grants totaling $750K, with a median grant of $200K. The foundation has distributed between $350K and $400K annually from 2022 to 2023. Individual grants have ranged from $150K to $200K, with an average award of $188K. The foundation has supported 3 unique organizations. Grants have been distributed to organizations in New Jersey and New York. Contributions to this foundation are tax-deductible.
No program descriptions are available for this foundation. Many private foundations report program activities in their annual 990-PF filings — check the Tax Filings section below for the most recent filing.
Gem Foundation Inc. primarily funds organizations in the area of philanthropy & grantmaking. Based on available records, the foundation has funded 4 grants. Its grantmaking reaches organizations primarily in NJ, NY.
Gem Foundation Inc. has distributed a total of $750K across 4 grants. The median grant size is $200K, with an average of $188K. Individual grants have ranged from $150K to $200K.
Gem Foundation Inc. typically selects its grantees rather than accepting unsolicited proposals.
Gem Foundation Inc. is headquartered in FAR HILLS, NJ. While based in NJ, the foundation distributes grants to organizations across 2 states.
| Name | Title | Compensation | Benefits | Total |
|---|---|---|---|---|
| Putnam L Crafts Jr | PRESIDENT, TREASURER, & DI | $0 | $0 | N/A |
| Marcia Zweig | V.P & DIRECTOR | $0 | $0 | N/A |
| Patricia Callan Crafts | SECRETARY & DIRECTOR | $0 | $0 | N/A |
| Martha S Sproule | DIRECTOR | $0 | $0 | N/A |
Total Giving
$353K
Total Assets
$5.9M
Fair Market Value
$5.9M
Net Worth
$5.9M
Grants Paid
$350K
Contributions
N/A
Net Investment Income
$292K
Distribution Amount
$286K
Total Grants
4
Total Giving
$750K
Average Grant
$188K
Median Grant
$200K
Unique Recipients
3
Most Common Grant
$200K
of 2023 grantees were first-time recipients
| Recipient | Location | Amount | Year |
|---|---|---|---|
| Kipp New JerseyEDUCATION | Newark, NJ | $200K | 2023 |
| Great Oaks Legacy Charter SchoolEDUCATION | Newark, NJ | $150K | 2023 |
| Uncommon SchoolsEDUCATION | New York, NY | $200K | 2022 |