1898 Foundation INC EIN 82-3903009 Form 990 (PDF) Claim this org

1898 Foundation INC

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Provides financial aid, scholarships, and grants to those in need. For fiscal year 2024 it reported $280K in revenue, $73K in expenses, and $1.6M in net assets.Pt I

Type
Public charity (501(c)(3)) · Education
Location
Purchase, NY
Filings
5 on file (2020–2024)
Revenue
$280KFY2024
Expenses
$73K
Net assets
$1.6M
People
17
Filings
5
Updates
0
More identity details & actions ⌄
EIN  82-3903009 Public charity (501(c)(3)) Purchase, NY
Form 990 (PDF)
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Size
$100K–1M
What they do
Provides financial aid, scholarships, and grants to those in need.
Leadership
Alan M Klein · Chairperson
Money in and out
$280K revenue, $73K expenses
Bottom line
88% program efficiency
Where the money goes · FY2024
Total revenue
$280K
Pt VIII · Ln 12
Total expenses
$73K
Pt IX · Ln 25
Net assets
$1.6M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $206K
Where spending went · Part IX cols B–D
Program services $0.88 Management & general $0.12
Program efficiency
88%
of spending reaches programs
Operating runway
267.8mo
months of highly liquid reserves at operating expense rate
Surplus margin
+74%
revenue over expenses, this year▼ -19% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$280K
FY2024▼ -76%
Expenses
$73K
FY2024▼ -30%
Total assets
$1.6M
FY2024▲ +15%
Total liabilities
$15K
FY2024▲ +131%
Total revenue
$280K
Pt VIII · Ln 12
Total expenses
$73K
Pt IX · Ln 25
Net assets
$1.6M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$206K
Total assetsPt X · Ln 16$1.6M
Program-expense ratioPt IX · col B88%
Voting members of governing bodyPt I · Ln 317
Independent voting membersPt I · Ln 417

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item C1898 Foundation INC
EINHdr · item D82-3903009
Principal addressHdr · item CPurchase, NY
WebsiteHdr · item Jnone reported
Year of formationHdr · item Lpending
State of legal domicileHdr · item MNY
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B82)
Ruling yearIRS BMFJan 2026

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a17
Independent voting membersPt VI · Ln 1b17
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Chairperson
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
See 1898 Foundation INC executive salaries →

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Mission & Programs · Part III

Where the work happens

3 program services account for $64K of program spending, described in the organization's own filed words · FY2024.
01

Scholarships. The foundation provides for educational assistance to individuals in need.

$31Kprogram expense
02

The foundation provides grants to charotable organizations.

$22Kprogram expense
03

Emergency medical hardship assistance. The foundation provides for emergency medical hardship assistance to individuals in need.

$11Kprogram expense

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Statement of Revenue

Part VIII
Contributions & grants$216K · 77%
Investment income$64K · 23%
Contributions & grants77%$216K
Investment income23%$64K
Total revenueLn 12$280K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.88 Management & general $0.12
Program services88%$64K
Management & general12%$9K
Total functional expensesLn 25$73K

Balance Sheet

Part X · end of year
CashLn 1$274K
Total assetsLn 16$1.6M
Total liabilitiesLn 26$15K
Total net assetsLn 32$1.6M
Months of cash on handcomputed44.8

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $1.6M · Operating expenses/yr $73K
267.8 months
Where the money goes
Program services
Program services $64K · Total expenses $73K
88%
Management & General
Management & general $9K · Total expenses $73K
12%
Fundraising
Fundraising $0 · Total expenses $73K
0%
Cost to raise $1
Fundraising expense $0 · Solicited contributions $216K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $216K · Total revenue $280K
77%
Government reliance
Government grants — · Total revenue $280K
Earned-income share
Program service revenue $0 · Total revenue $280K
0%
Investment reliance
Investment income $64K · Total revenue $280K
+23%
Program self-sufficiency
Program service revenue $0 · Total expenses $73K
0%
Growth & trend
Revenue growth (YoY)
This year $280K · Prior year $1.2M
-76%
Revenue CAGR
FY2020 $63K · FY2024 $280K
+45%
Net-asset trend (YoY)
End of year $1.6M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $280K · Expenses $73K
+74%
Liabilities-to-Assets
Total liabilities — · Total assets $1.6M
Net-asset ratio
Net assets $1.6M · Total assets $1.6M
99%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $1.4M · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $1.6M
83%
People & payroll
Highest Reported Total Compensation
Individual Alan M Klein · Reported title CHAIRPERSON · Highest reported compensation $0 · Total expenses $73K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $73K
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 88%
Overhead ratio 12%
Fundraising cost ratio 0%
Revenue growth -76%
Accounting fee ratio 12%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 3 funders$26K
See all 3 funders →
Grants paid · 35 grants · $183K · 2020–2024
Unitemized GrantFY2024$31,220
Unitemized GrantFY2024$11,200
Scholarship America INCFY2023$25,000
Mga FoundationFY2023$5,000
Caddie Scholarship FundFY2023$5,000
Feeding Westchester INCNY · FY2023$2,500
Metro Club FoundationFY2023$2,000
Harrison Food PantryFY2023$2,000
Scholarship America INCFY2022$14,727
Harrison Food PantryFY2022$1,000
Ethan TiengFY2021$8,000
Justin ReevesFY2021$6,000
Feeding Westchester INCNY · FY2021$5,000
The Club FoundationFY2021$5,000
Westchester Caddie Scholarship FundFY2021$5,000
Zachary HassenbalgFY2021$4,000
Patricia TiengFY2021$4,000
Pamela RamirezFY2021$4,000
See all 35 grants →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$280K revenue · viewing · ⤓ 990 PDF
FY2023$1.2M revenue · ⤓ 990 PDF
FY2022$19K revenue · ⤓ 990 PDF
FY2021$129K revenue · ⤓ 990 PDF
FY2020$63K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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