The Papitto Foundation
- Assets
- $11.4m
- Revenue
- $848.3k
- Investments
- $10.7m
- Employees
- 0
- Location
- Hope, RI
- Founding
- 04/1988
- Data as of
- 12/2020
- EIN
- 05-0426569
Organization Overview
The Papitto Foundation is located in Hope, RI. The organization was established in 1988. 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. Papitto Foundation 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 12/2020, Papitto Foundation generated $848.3k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 7.4% each year. All expenses for the organization totaled $2.8m during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Papitto Foundation has awarded 116 individual grants totaling $8,913,930. 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2020
Describe the Organization's Program Activity:
Part 3 - Line 4a
NONE
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Papitto Director | 10 | $0 | |
Barbara A Papitto President/director | 10 | $0 | |
John A Tarantino Director | 0 | $0 | |
Edward P Pieroni Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $146,166 |
| Dividends & Interest | $145,493 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $556,688 |
| Capital Gain Net Income | $556,688 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $848,347 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $71,816 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $3,856 |
| Total operating and administrative expenses | $133,595 |
| Contributions, gifts, grants paid | $2,692,415 |
| Total expenses and disbursements | $2,826,010 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $506,985 |
| 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 | $208,570 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $207,106 |
| Total assets | $11,396,957 |
| 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, The Papitto Foundation has awarded $5,384,830 in support to 48 organizations.
| Grant Recipient | Amount |
|---|---|
SAINT MARY ACADEMY BAY VIEW PURPOSE: GENERAL FUND | $1,563,900 |
SAINT MARY ACADEMY BAY VIEW PURPOSE: GENERAL FUND | $1,563,900 |
Smithfield, RI PURPOSE: GENERAL FUND | $400,000 |
Smithfield, RI PURPOSE: GENERAL FUND | $400,000 |
THE RI FOUNDATION PURPOSE: GENERAL FUND | $260,000 |
THE RI FOUNDATION PURPOSE: GENERAL FUND | $260,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Eastern Bank Charitable Foundation Lynn, MA | $286,575,476 | $18,352,628 |
Elms Foundation Providence, RI | $0 | -$22,907 |
Newmans Own Foundation Westport, CT | $226,904,846 | $19,666,525 |
Growald Climate Fund Inc Brookline, MA | $40,583,150 | $39,346,635 |
Peter And Ann Lambertus Family Foundation Inc Boston, MA | $280,283,227 | $22,807 |
F B Heron Foundation New Milford, CT | $412,823,233 | $28,288,660 |
Ralph R Papitto And Barbara A Papitto Private Family Foundation Hope, RI | $20,164,629 | $44,911,185 |
Diebold Foundation Inc Roxbury, CT | $15,650,779 | $11,297,446 |
Schooner Foundation Boston, MA | $234,086,951 | $101,845,887 |
Amelia Peabody Foundation Wellesley, MA | $142,407,971 | $16,470,894 |
Crimson Lion Foundation Boston, MA | $63,778,253 | $10,788,706 |
Hassenfeld Foundation Providence, RI | $69,706,667 | $3,941,296 |