Prosource Foundation Inc

Manasquan, NJ
Tax-exempt since April 2002
EIN: 22-3842879

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Type of Nonprofit

Designated as a 501(c)(3) Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Category: Philanthropy, Voluntarism and Grantmaking Foundations / Private Grantmaking Foundations (NTEE)

Donations to this organization are tax deductible.

Revenue

$25.5k (2024)

Expenses

$40.1k (2024)

Total Assets

$726k (2024)

Total Liabilities

$0 (2024)

Source: Form 990 tax filings from 2011 to 2024

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Dec.
2024

Revenue

$25,535

Expenses

$40,064

Net Income

-$14,529

Net Assets

$725,573

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$22,074	86.4%
Dividends	$3,491	13.7%
Sales of Assets	-$30
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$33,996	84.9%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$725,573
Total Liabilities	$0
Net Assets	$725,573

Compensation

Key Employees and Officers	Compensation	Other
Robert Chinery Jr (Trustee)	$0	$0
Tracy Chinery (Trustee)	$0	$0
William R Hagaman Jr (Trustee)	$0	$0

990-PF

Filed on March 27, 2025

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2023

Revenue

$21,937

Expenses

$56,131

Net Income

-$34,194

Net Assets

$688,888

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$14,458	65.9%
Dividends	$3,774	17.2%
Sales of Assets	$3,705	16.9%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$51,418	91.6%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$688,888
Total Liabilities	$0
Net Assets	$688,888

Compensation

Key Employees and Officers	Compensation	Other
Robert Chinery Jr (Trustee)	$0	$0
Tracy Chinery (Trustee)	$0	$0
William R Hagaman Jr (Trustee)	$0	$0

990-PF

Filed on April 4, 2024

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2022

Revenue

$19,099

Expenses

$64,817

Net Income

-$45,718

Net Assets

$679,622

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$14,811	77.5%
Dividends	$4,160	21.8%
Sales of Assets	$128	0.7%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$59,102	91.2%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$679,622
Total Liabilities	$0
Net Assets	$679,622

Compensation

Key Employees and Officers	Compensation	Other
Robert Chinery Jr (Trustee)	$0	$0
Tracy Chinery (Trustee)	$0	$0
William R Hagaman Jr (Trustee)	$0	$0

990-PF

Filed on May 15, 2023

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2021

Revenue

$42,214

Expenses

$71,913

Net Income

-$29,699

Net Assets

$798,419

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$16,571	39.3%
Dividends	$3,292	7.8%
Sales of Assets	$22,293	52.8%
Other Income	$58	0.1%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$65,925	91.7%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$798,419
Total Liabilities	$0
Net Assets	$798,419

Compensation

Key Employees and Officers	Compensation	Other
Robert Chinery Jr (Trustee)	$0	$0
Tracy Chinery (Trustee)	$0	$0
William R Hagaman Jr (Trustee)	$0	$0

990-PF

Filed on Nov. 1, 2022

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2020

Revenue

$27,686

Expenses

$98,460

Net Income

-$70,774

Net Assets

$784,735

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$18,168	65.6%
Dividends	$3,070	11.1%
Sales of Assets	$6,448	23.3%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$90,716	92.1%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$784,736
Total Liabilities	$1
Net Assets	$784,735

Compensation

Key Employees and Officers	Compensation	Other
Robert Chinery Jr (Trustee)	$0	$0
Tracy Chinery (Trustee)	$0	$0
William R Hagaman Jr (Trustee)	$0	$0

990-PF

Filed on Aug. 4, 2021

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2019

Revenue

$23,868

Expenses

$54,168

Net Income

-$30,300

Net Assets

$819,047

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$20,612	86.4%
Dividends	$3,297	13.8%
Sales of Assets	$868	3.6%
Other Income	-$909

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$47,000	86.8%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$819,048
Total Liabilities	$1
Net Assets	$819,047

Compensation

Key Employees and Officers	Compensation	Other
Robert Chinery Jr (Trustee)	$0	$0
Tracy Chinery (Trustee)	$0	$0
William R Hagaman Jr (Trustee)	$0	$0

990-PF

Filed on Nov. 19, 2020

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2018

Revenue

$33,449

Expenses

$88,600

Net Income

-$55,151

Net Assets

$788,032

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$19,085	57.1%
Dividends	$3,657	10.9%
Sales of Assets	$10,707	32.0%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$81,115	91.6%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$803,032
Total Liabilities	$15,000
Net Assets	$788,032

Compensation

Key Employees and Officers	Compensation	Other
Robert Chinery Jr (Trustee)	$0	$0
Tracy Chinery (Trustee)	$0	$0
William R Hagaman Jr (Trustee)	$0	$0

990-PF

Filed on Nov. 11, 2019

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2017

Revenue

$22,965

Expenses

$108,815

Net Income

-$85,850

Net Assets

$877,357

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$16,451	71.6%
Dividends	$5,416	23.6%
Sales of Assets	$867	3.8%
Other Income	$231	1.0%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$100,860	92.7%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$922,357
Total Liabilities	$45,000
Net Assets	$877,357

Compensation

Key Employees and Officers	Compensation	Other
Robert Chinery Jr (Trustee)	$0	$0
Tracy Chinery (Trustee)	$0	$0
William R Hagaman Jr (Trustee)	$0	$0

990-PF

Filed on June 20, 2018

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2016

Revenue

$30,122

Expenses

$83,334

Net Income

-$53,212

Net Assets

$933,553

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$24,113	80.1%
Dividends	$5,151	17.1%
Sales of Assets	$858	2.8%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$76,140	91.4%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$933,553
Total Liabilities	$0
Net Assets	$933,553

Compensation

Key Employees and Officers	Compensation	Other
Robert Chinery Jr (Trustee)	$0	$0
Tracy Chinery (Trustee)	$0	$0
William R Hagaman Jr (Trustee)	$0	$0

990-PF

Filed on Aug. 8, 2017

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2015

Revenue

$26,105

Expenses

$118,980

Net Income

-$92,875

Net Assets

$960,073

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$25,793	98.8%
Dividends	$5,684	21.8%
Sales of Assets	-$5,372
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$114,463	96.2%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$960,073
Total Liabilities	$0
Net Assets	$960,073

Compensation

Key Employees and Officers	Compensation	Other
Robert Chinery Jr (Trustee)	$0	$0
Tracy Chinery (Trustee)	$0	$0
William R Hagaman Jr (Trustee)	$0	$0

990-PF

Filed on May 16, 2016

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2014

Revenue

$54,887

Expenses

$99,923

Net Income

-$45,036

Net Assets

$1,066,914

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$31,506	57.4%
Dividends	$5,919	10.8%
Sales of Assets	$17,462	31.8%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$94,309	94.4%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$1,066,914
Total Liabilities	$0
Net Assets	$1,066,914

Compensation

Key Employees and Officers	Compensation	Other
Robert Chinery Jr (Trustee)	$0	$0
Tracy Chinery (Trustee)	$0	$0
William R Hagaman Jr (Trustee)	$0	$0

990-PF

Filed on May 15, 2015

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2013

Revenue

$60,176

Expenses

$89,430

Net Income

-$29,254

Net Assets

$1,218,800

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$35,844	59.6%
Dividends	$7,682	12.8%
Sales of Assets	$16,650	27.7%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$84,805	94.8%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$1,218,800
Total Liabilities	$0
Net Assets	$1,218,800

Compensation

Key Employees and Officers	Compensation	Other
Robert Chinery Jr (Trustee)	$0	$0
Tracy Chinery (Trustee)	$0	$0
William R Hagaman Jr (Trustee)	$0	$0

990-PF

Filed on March 14, 2014

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2012

Revenue

$54,177

Expenses

$116,509

Net Income

-$62,332

Net Assets

$1,179,816

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$46,274	85.4%
Dividends	$6,257	11.5%
Sales of Assets	$1,465	2.7%
Other Income	$181	0.3%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$112,446	96.5%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$1,179,817
Total Liabilities	$1
Net Assets	$1,179,816

990-PF

Primary tax return for a private foundation's activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2011

Revenue

$53,465

Expenses

$109,185

Net Income

-$55,720

Net Assets

$1,243,385

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$56,247	> 100%
Dividends	$3,119	5.8%
Sales of Assets	$0
Other Income	-$1,788

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$104,324	95.5%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$1,243,386
Total Liabilities	$1
Net Assets	$1,243,385

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Prosource Foundation Inc

Organization summary

Type of Nonprofit

Summary charts: organization finances over time

Revenue $25.5k (2024)

Expenses $40.1k (2024)

Total Assets $726k (2024)

Total Liabilities $0 (2024)

Tax Filings by Year

Fiscal Year Ending Dec. 2024

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2023

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2022

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2021

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2020

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2019

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2018

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2017

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2016

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2015

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2014

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2013

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

Revenue

$25.5k (2024)

Expenses

$40.1k (2024)

Total Assets

$726k (2024)

Total Liabilities

$0 (2024)

Fiscal Year Ending Dec.
2024

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2016

Fiscal Year Ending Dec.
2015

Fiscal Year Ending Dec.
2014

Fiscal Year Ending Dec.
2013

Fiscal Year Ending Dec.
2012

Fiscal Year Ending Dec.
2011

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