Milton Schamach Foundation Inc

Saddle Brook, NJ
Tax-exempt since Feb. 1970
EIN: 23-7051147

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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.

Donations to this organization are tax deductible.

Revenue

$64.1k (2024)

Expenses

$70.7k (2024)

Total Assets

$719k (2024)

Total Liabilities

$0 (2024)

Source: Form 990 tax filings from 2012 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 Aug.
2024

Revenue

$64,122

Expenses

$70,694

Net Income

-$6,572

Net Assets

$719,323

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$3,893	6.1%
Dividends	$14,544	22.7%
Sales of Assets	$45,685	71.2%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$46,300	65.5%
Compensation of Officers*	$8,400	11.9%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$719,323
Total Liabilities	$0
Net Assets	$719,323

Compensation

Key Employees and Officers	Compensation	Other
Gene Schamach (Senior Vice President/Trus)	$1,200	$0
Howard Schamach (President/Treasurer/Truste)	$1,200	$0
Michael Schamach (Third Vice President/Trust)	$1,200	$0
Nancy Freedman (Second Vice President/Trus)	$1,200	$0
Justin Schamach (Secretary/Trustee)	$1,200	$0
Mitch Freedman (Trustee)	$1,200	$0
Consuelo Schamach (Trustee)	$1,200	$0

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990-PF

Filed on Jan. 15, 2025

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

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Schedules ▼

XML

Fiscal Year Ending Aug.
2023

Revenue

$36,076

Expenses

$37,756

Net Income

-$1,680

Net Assets

$725,895

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$2,782	7.7%
Dividends	$12,965	35.9%
Sales of Assets	$20,329	56.4%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$17,128	45.4%
Compensation of Officers*	$1,500	4.0%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$725,895
Total Liabilities	$0
Net Assets	$725,895

Compensation

Key Employees and Officers	Compensation	Other
Gene Schamach (Senior Vice President/Trus)	$250	$0
Howard Schamach (President/Treasurer/Truste)	$250	$0
Rhoda Schamach (Asst Treasurer/Asst Secy/T)	$250	$0
Michael Schamach (Third Vice President/Trust)	$250	$0
Nancy Freedman (Second Vice President/Trus)	$250	$0
Justin Schamach (Secretary/Trustee)	$250	$0

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990-PF

Filed on Feb. 26, 2024

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

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Schedules ▼

PDF XML

Fiscal Year Ending Aug.
2022

Revenue

$52,766

Expenses

$50,617

Net Income

$2,149

Net Assets

$727,575

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$1,722	3.3%
Dividends	$12,322	23.4%
Sales of Assets	$38,722	73.4%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$23,628	46.7%
Compensation of Officers*	$13,500	26.7%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$727,575
Total Liabilities	$0
Net Assets	$727,575

Compensation

Key Employees and Officers	Compensation	Other
Gene Schamach (Senior Vice President/Trus)	$2,250	$0
Howard Schamach (President/Treasurer/Truste)	$2,250	$0
Rhoda Schamach (Asst Treasurer/Asst Secy/T)	$2,250	$0
Michael Schamach (Third Vice President/Trust)	$2,250	$0
Nancy Freedman (Second Vice President/Trus)	$2,250	$0
Justin Schamach (Secretary/Trustee)	$2,250	$0

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990-PF

Filed on Jan. 13, 2023

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

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XML

Fiscal Year Ending Aug.
2021

Revenue

$117,172

Expenses

$129,297

Net Income

-$12,125

Net Assets

$725,426

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$2,696	2.3%
Dividends	$13,146	11.2%
Sales of Assets	$101,330	86.5%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$98,000	75.8%
Compensation of Officers*	$36,000	27.8%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$725,426
Total Liabilities	$0
Net Assets	$725,426

Compensation

Key Employees and Officers	Compensation	Other
Gene Schamach (Senior Vice President/Trus)	$6,000	$0
Howard Schamach (President/Treasurer/Truste)	$6,000	$0
Rhoda Schamach (Asst Treasurer/Asst Secy/T)	$6,000	$0
Michael Schamach (Third Vice President/Trust)	$6,000	$0
Nancy Freedman (Second Vice President/Trus)	$6,000	$0
Justin Schamach (Secretary/Trustee)	$6,000	$0

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990-PF

Filed on Jan. 13, 2022

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

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XML

Fiscal Year Ending Aug.
2020

Revenue

$39,709

Expenses

$122,710

Net Income

-$83,001

Net Assets

$737,550

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$3,165	8.0%
Dividends	$15,210	38.3%
Sales of Assets	$21,334	53.7%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$92,500	75.4%
Compensation of Officers*	$30,000	24.4%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$737,551
Total Liabilities	$1
Net Assets	$737,550

Compensation

Key Employees and Officers	Compensation	Other
Gene Schamach (Senior Vice President/Trus)	$5,000	$0
Howard Schamach (President/Treasurer/Truste)	$5,000	$0
Rhoda Schamach (Asst Treasurer/Asst Secy/T)	$5,000	$0
Michael Schamach (Third Vice President/Trust)	$5,000	$0
Nancy Freedman (Second Vice President/Trus)	$5,000	$0
Justin Schamach (Secretary/Trustee)	$5,000	$0

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990-PF

Filed on Feb. 16, 2021

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

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PDF XML

Fiscal Year Ending Aug.
2019

Revenue

$104,048

Expenses

$122,967

Net Income

-$18,919

Net Assets

$820,551

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$4,215	4.1%
Dividends	$18,848	18.1%
Sales of Assets	$80,985	77.8%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$91,000	74.0%
Compensation of Officers*	$30,000	24.4%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$820,552
Total Liabilities	$1
Net Assets	$820,551

Compensation

Key Employees and Officers	Compensation	Other
Gene Schamach (Senior Vice President/Trus)	$5,000	$0
Howard Schamach (President/Treasurer/Truste)	$5,000	$0
Rhoda Schamach (Asst Treasurer/Asst Secy/T)	$5,000	$0
Michael Schamach (Third Vice President/Trust)	$5,000	$0
Nancy Freedman (Second Vice President/Trus)	$5,000	$0
Justin Schamach (Secretary/Trustee)	$5,000	$0

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990-PF

Filed on Feb. 13, 2020

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

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Fiscal Year Ending Aug.
2018

Revenue

$102,014

Expenses

$118,470

Net Income

-$16,456

Net Assets

$839,471

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$4,361	4.3%
Dividends	$28,215	27.7%
Sales of Assets	$69,438	68.1%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$87,378	73.8%
Compensation of Officers*	$28,500	24.1%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$839,471
Total Liabilities	$0
Net Assets	$839,471

Compensation

Key Employees and Officers	Compensation	Other
Gene Schamach (Senior Vice President/Trustee)	$4,750	$0
Howard Schamach (President/Treasurer/Trustee)	$4,750	$0
Rhoda Schamach (Asst Treasurer/Asst Secy/Trustee)	$4,750	$0
Michael Schamach (Third Vice President/Trustee)	$4,750	$0
Nancy Freedman (Second Vice President/Trustee)	$4,750	$0
Justin Schamach (Secretary/Trustee)	$4,750	$0

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990-PF

Filed on March 5, 2019

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

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Fiscal Year Ending Aug.
2017

Revenue

$95,028

Expenses

$117,113

Net Income

-$22,085

Net Assets

$855,927

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$3,949	4.2%
Dividends	$25,088	26.4%
Sales of Assets	$65,991	69.4%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$87,125	74.4%
Compensation of Officers*	$31,500	26.9%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$855,927
Total Liabilities	$0
Net Assets	$855,927

Compensation

Key Employees and Officers	Compensation	Other
Gene Schamach (President/Trustee)	$4,500	$0
Howard Schamach (Vice President/Trustee)	$4,500	$0
Jay Rubenstein (Secretary/Trustee)	$4,500	$0
Rhoda Schamach (Asst Treasurer/Trustee)	$4,500	$0
Michael Schamach (Vice President/Trustee)	$4,500	$0
Nancy Freedman (Vice President/Trustee)	$4,500	$0
Justin Schamach (Asst Treasurer/Trustee)	$3,000	$0
Barry Yucht (Treasurer/Trustee)	$1,500	$0

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990-PF

Filed on Dec. 20, 2017

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

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Fiscal Year Ending Aug.
2016

Revenue

$149,832

Expenses

$136,569

Net Income

$13,263

Net Assets

$878,012

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$4,162	2.8%
Dividends	$24,838	16.6%
Sales of Assets	$120,832	80.6%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$102,141	74.8%
Compensation of Officers*	$52,500	38.4%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$878,012
Total Liabilities	$0
Net Assets	$878,012

Compensation

Key Employees and Officers	Compensation	Other
Gene Schamach (President/Trustee)	$7,500	$0
Howard Schamach (Vice President/Trustee)	$7,500	$0
Jay Rubenstein (Secretary/Trustee)	$7,500	$0
Rhoda Schamach (Asst Treasurer/Trustee)	$7,500	$0
Michael Schamach (Vice President/Trustee)	$7,500	$0
Nancy Freedman (Vice President/Trustee)	$7,500	$0
Barry Yucht (Treasurer/Trustee)	$7,500	$0

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990-PF

Filed on Nov. 2, 2016

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

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Fiscal Year Ending Aug.
2015

Revenue

$143,033

Expenses

$152,346

Net Income

-$9,313

Net Assets

$864,749

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$4,567	3.2%
Dividends	$26,547	18.6%
Sales of Assets	$111,266	77.8%
Other Income	$653	0.5%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$115,812	76.0%
Compensation of Officers*	$52,500	34.5%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$864,749
Total Liabilities	$0
Net Assets	$864,749

Compensation

Key Employees and Officers	Compensation	Other
Gene Schamach (President/Trustee)	$7,500	$0
Howard Schamach (Vice President/Trustee)	$7,500	$0
Jay Rubenstein (Secretary/Trustee)	$7,500	$0
Rhoda Schamach (Asst Treasurer/Trustee)	$7,500	$0
Michael Schamach (Vice President/Trustee)	$7,500	$0
Nancy Freedman (Vice President/Trustee)	$7,500	$0
Barry Yucht (Treasurer/Trustee)	$7,500	$0

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990-PF

Filed on Nov. 23, 2015

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

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Fiscal Year Ending Aug.
2014

Revenue

$106,240

Expenses

$147,348

Net Income

-$41,108

Net Assets

$874,062

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$8,363	7.9%
Dividends	$25,175	23.7%
Sales of Assets	$72,702	68.4%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$109,180	74.1%
Compensation of Officers*	$52,500	35.6%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$874,062
Total Liabilities	$0
Net Assets	$874,062

Compensation

Key Employees and Officers	Compensation	Other
Gene Schamach (President/Trustee)	$7,500	$0
Howard Schamach (Vice President/Trustee)	$7,500	$0
Jay Rubenstein (Secretary/Trustee)	$7,500	$0
Rhoda Schamach (Asst Treasurer/Trustee)	$7,500	$0
Michael Schamach (Vice President/Trustee)	$7,500	$0
Nancy Freedman (Vice President/Trustee)	$7,500	$0
Barry Yucht (Treasurer/Trustee)	$7,500	$0

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990-PF

Filed on Nov. 11, 2014

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

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Fiscal Year Ending Aug.
2013

Revenue

$93,985

Expenses

$146,460

Net Income

-$52,475

Net Assets

$915,169

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$8,475	9.0%
Dividends	$28,288	30.1%
Sales of Assets	$57,222	60.9%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$108,888	74.3%
Compensation of Officers*	$52,500	35.8%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$915,170
Total Liabilities	$1
Net Assets	$915,169

990-PF

Filed on Jan. 3, 2014

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

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Schedules ▼

PDF XML

Fiscal Year Ending Aug.
2012

Revenue

$57,414

Expenses

$143,562

Net Income

-$86,148

Net Assets

$967,644

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$10,132	17.6%
Dividends	$27,950	48.7%
Sales of Assets	$19,332	33.7%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$105,182	73.3%
Compensation of Officers*	$52,500	36.6%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$967,645
Total Liabilities	$1
Net Assets	$967,644

990-PF

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

PDF

PDF (2 of 2)

Fiscal Year Ending Aug.
2002

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

990-PF

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

PDF

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Milton Schamach Foundation Inc

Organization summary

Type of Nonprofit

Summary charts: organization finances over time

Revenue $64.1k (2024)

Expenses $70.7k (2024)

Total Assets $719k (2024)

Total Liabilities $0 (2024)

Tax Filings by Year

Fiscal Year Ending Aug. 2024

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Aug. 2023

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Aug. 2022

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Aug. 2021

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Aug. 2020

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Aug. 2019

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Aug. 2018

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Aug. 2017

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Aug. 2016

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Aug. 2015

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Aug. 2014

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Aug. 2013

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Document Links

990-PF

Revenue

$64.1k (2024)

Expenses

$70.7k (2024)

Total Assets

$719k (2024)

Total Liabilities

$0 (2024)

Fiscal Year Ending Aug.
2024

Fiscal Year Ending Aug.
2023

Fiscal Year Ending Aug.
2022

Fiscal Year Ending Aug.
2021

Fiscal Year Ending Aug.
2020

Fiscal Year Ending Aug.
2019

Fiscal Year Ending Aug.
2018

Fiscal Year Ending Aug.
2017

Fiscal Year Ending Aug.
2016

Fiscal Year Ending Aug.
2015

Fiscal Year Ending Aug.
2014

Fiscal Year Ending Aug.
2013

Fiscal Year Ending Aug.
2012

Fiscal Year Ending Aug.
2011

Fiscal Year Ending Aug.
2010

Fiscal Year Ending Aug.
2009

Fiscal Year Ending Aug.
2008

Fiscal Year Ending Aug.
2007

Fiscal Year Ending Aug.
2006

Fiscal Year Ending Aug.
2005

Fiscal Year Ending Aug.
2004

Fiscal Year Ending Aug.
2003

Fiscal Year Ending Aug.
2002