Olivetti Foundation Inc
- Assets
- $1.1m
- Revenue
- $88.2k
- Investments
- $792.2k
- Employees
- 0
- Location
- Wilmington, DE
- Founding
- 03/1962
- Data as of
- 12/2021
- EIN
- 04-6043143
Organization Overview
Olivetti Foundation Inc is located in Wilmington, DE. The organization was established in 1962. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Olivetti Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Olivetti Foundation Inc generated $88.2k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.1% each year . All expenses for the organization totaled $67.9k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Olivetti Foundation Inc has awarded 52 individual grants totaling $382,000. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marc Olivetti Dir, Treas | 1 | $1,500 | |
Connie Olivetti Vp, Dir | 1 | $1,500 | |
Philip Olivetti Pres, Dir | 1 | $1,500 | |
Jaffray K Olivetti Mcmorrow Dir, Sec | 1 | $1,500 | |
Cristina Spencer Dir | 1 | $1,500 | |
Peter Olivetti Dir | 1 | $1,500 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $43 |
| Dividends & Interest | $22,959 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $65,224 |
| Capital Gain Net Income | $65,224 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $88,226 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $9,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $883 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $1,176 |
| Printing and publications | $0 |
| Other expenses | $10,408 |
| Total operating and administrative expenses | $31,878 |
| Contributions, gifts, grants paid | $36,000 |
| Total expenses and disbursements | $67,878 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $274,736 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,066,942 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Olivetti Foundation Inc has awarded $36,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
New York, NY PURPOSE: GENERAL & UNRESTRICTED | $25,000 |
Las Vegas, NV PURPOSE: CHARITABLE EVENT | $10,000 |
Charlotte, NC PURPOSE: CHARITABLE EVENT | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Rita Allen Foundation Princeton, NJ | $219,012,203 | $23,878,841 |
Jacob And Hilda Blaustein Foundation Inc Baltimore, MD | $130,688,531 | $27,779,767 |
Clark-Winchcole Foundation Bethesda, MD | $197,708,650 | $12,024,655 |
Head & Heart Foundation Tr Wilmington, DE | $258,907,072 | $16,871,801 |
The Powder Mill Foundation York, PA | $147,181,195 | $3,651,780 |
Joseph And Marion Wesley Family Foundation Philadelphia, PA | $658,173 | $9,365,078 |
Atlantic Foundation Hamilton, NJ | $71,880,730 | $9,586,711 |
Arete Foundation Philadelphia, PA | $69,704,325 | $5,927,114 |
Hyde And Watson Foundation Warren Township, NJ | $97,089,662 | $14,479,449 |
Horizon Charitable Foundation Inc Newark, NJ | $76,993,498 | $4,728,445 |
Margaret A@darrin Charitable Trust Florham Park, NJ | $119,124,221 | $14,435,367 |
Independence Blue Cross Foundation Philadelphia, PA | $149,853,954 | $24,274,350 |