The Gladys Krieble Delmas Foundation (the “Foundation”) is a New York charitable trust created by an Agreement of Trust dated May 5, 1976. The only donors to the Foundation were Gladys Krieble Delmas and Jean Paul Delmas. The assets of the Foundation may be employed by the Foundation’s Trustees without restriction for charitable purposes.
The Foundation has been recognized by the Internal Revenue Service as a tax exempt organization described in Section 501(c)(3) of the Internal Revenue Code, and, accordingly, is not subject to federal income tax. However, the Foundation is classified as a private foundation and, as such, is subject to an excise tax on net investment income including dividends, interest, and net realized gains on securities transactions reduced by related expenses.
For more financial information, see guidestar.org.