CAROLINE & JOSEPH S GRUSS LIFE MONUMENT FUNDS INC

EIN: 133573461 501(c)(3) Education

Brooklyn, NY

Total Revenue
$1,887,456
Total Expenses
$22,028,213
Total Assets
$6,238,298
Net Assets
$6,020,831
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1991
Legal Domicile
NY
Principal Officer
JASON CURY
Phone
2127571500
Tax Period
2023-01-01 to 2023-12-31

CAROLINE & JOSEPH S GRUSS LIFE MONUMENT FUNDS INC, founded in 1991, is a community nonprofit in the Education sector that reported $1.9M in total revenue in fiscal year 2023. Revenue surged 78% from the prior year, signaling strong growth momentum. Expenses of $22.0M exceeded revenue, resulting in a 1067% operating deficit.

Mission

SUPPORT JEWISH EDUCATION

Program Service Accomplishments

Program 1
Expenses: $630,175 Revenue: $0

BUILDING RENOVATION-FUNDING FOR FIXING HAZARDOUS CONDITIONS IN JEWISH SCHOOLS LOCATED IN NEW YORK CITY AND NEIGHBORING WESTCHESTER, NASSAU AND SUFFOLK COUNTIES. THE PROGRAM ACCEPTED OVER 45...

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BUILDING RENOVATION-FUNDING FOR FIXING HAZARDOUS CONDITIONS IN JEWISH SCHOOLS LOCATED IN NEW YORK CITY AND NEIGHBORING WESTCHESTER, NASSAU AND SUFFOLK COUNTIES. THE PROGRAM ACCEPTED OVER 45 APPLICATIONS SUBMITTED.

Program 2
Expenses: $2,568,913 Revenue: $0

SCHOLARSHIPS FUND-PROVIDE VARIOUS SCHOLARSHIPS TO STUDENTS FOR ACADEMIC STUDES. THE ELEMENTARY SCHOLARSHIP FUND WAS AWARDED TO 370 STUDENTS IN 28 SCHOOLS, 432JEWISH SCHOOLS STUDENTS IN 96 SCHOOLS...

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SCHOLARSHIPS FUND-PROVIDE VARIOUS SCHOLARSHIPS TO STUDENTS FOR ACADEMIC STUDES. THE ELEMENTARY SCHOLARSHIP FUND WAS AWARDED TO 370 STUDENTS IN 28 SCHOOLS, 432JEWISH SCHOOLS STUDENTS IN 96 SCHOOLS WERE AWARDED. IN ADDITION, 10 SCHOLARHIPS WERE AWARDED TO STUDENTS ATTENDING FASHION INSTITUTE OF TECHNOLOGY.

Program 3
Expenses: $17,304,000 Revenue: $0

MEDICAL PENSION AND LIFE INSURANCE BENEFIT PROGRAM-PROVIDE SUPPLEMENTAL HEALTH, LIFE INSURANCE AND PENSION PREMIUMS OF CAREER EDUCATORS AT JEWISH DAY SCHOOLS IN THE NEW YORK METROPOLITAN AREA. 1,957...

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MEDICAL PENSION AND LIFE INSURANCE BENEFIT PROGRAM-PROVIDE SUPPLEMENTAL HEALTH, LIFE INSURANCE AND PENSION PREMIUMS OF CAREER EDUCATORS AT JEWISH DAY SCHOOLS IN THE NEW YORK METROPOLITAN AREA. 1,957 EDUCATORS RECEIVED MEDICAL BENEFITS AND 1,153 RECEIVED PENSION BENEFITS FROM THIS PROGRAM. IN EXCESS OF 6,600 EDUCATORS RECEIVED LIFE INSURANCE BENEFITS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $500
Program Service Revenue $0
Investment Income $1,388,287
Other Revenue $498,669
TOTAL REVENUE $1,887,456

Expense Breakdown

Grants Paid $19,859,099
Salaries & Benefits $1,667,926
Fundraising Expenses $0
Program Expenses $20,503,088
Other Expenses $501,188
TOTAL EXPENSES $22,028,213

Year-over-Year Comparison

2023 2022 Change
Revenue $1,887,456 $1,062,332 +0.8%
Expenses $22,028,213 $8,633,535 +1.6%
Net Income $-20,140,757 $-7,571,203 +1.7%
Key Indicators
✓ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Governance

Voting Members
16
Independent Members
15
Employees
28
Volunteers
16

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
⚠ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$752,173
Total Directors
16
$752,173
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JASON CURY PRESIDENT 28.00
Officer Director
$704,396 $47,777 $752,173
MARTIN GRUSS CHAIRMAN 0.65
Officer Director
$0 $0 $0
MATHEW MARYLES TREASURER 0.50
Officer Director
$0 $0 $0
LILLIAN EISMAN SECRETARY 0.50
Officer Director
$0 $0 $0
DR ALISA DOCTORFF BOARD MEMBER 0.50
Director
$0 $0 $0
ERIC GOLDSTEIN BOARD MEMBER 0.50
Director
$0 $0 $0
DR EVELYN GRUSS LIPPER BOARD MEMBER 0.50
Director
$0 $0 $0
JOSHUA GRUSS BOARD MEMBER 0.50
Director
$0 $0 $0
BERNARD LATERMAN BOARD MEMBER 0.50
Director
$0 $0 $0
SCOTT SHAY BOARD MEMBER 0.50
Director
$0 $0 $0
DOROTHY TANANBAUM BOARD MEMBER 0.50
Director
$0 $0 $0
AMY BRESSMAN BOARD MEMBER 0.50
Director
$0 $0 $0
BILLIE GOLD BOARD MEMBER 0.50
Director
$0 $0 $0
SARENE SHANUS BOARD MEMBER 0.50
Director
$0 $0 $0
JEFFREY SCHOENFELD BOARD MEMBER 0.50
Director
$0 $0 $0
SARA NATHAN BOARD MEMBER 0.50
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $1,887,456 $22,028,213 $6,238,298 $-20,140,757
2022 $261,332 $8,662,798 $30,993,176 $-8,401,466
2022 $1,062,332 $8,633,535 $30,783,646 $-7,571,203
2021 $2,679,769 $10,793,722 $48,124,527 $-8,113,953
2020 $10,741,682 $9,151,220 $49,924,322 $1,590,462
2018 $7,258,965 $9,572,228 $54,424,394 $-2,313,263
2018 $7,164,425 $9,572,228 $54,424,394 $-2,407,803
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