Michael & Margaret Picotte Foundation Inc
- Assets
- $4.0m
- Revenue
- $236.7k
- Investments
- $3.9m
- Employees
- 0
- Location
- Saratoga Springs, NY
- Founding
- 04/1992
- Data as of
- 12/2022
- EIN
- 06-1307349
Organization Overview
Michael & Margaret Picotte Foundation Inc is located in Saratoga Springs, NY. The organization was established in 1992. 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. Michael & Margaret Picotte 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.
Since 2016, Michael & Margaret Picotte Foundation Inc has awarded 87 individual grants totaling $695,326. 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
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
PLEASE NOTE, THE FOUNDATION IS NOT INVOLVED IN ANY DIRECT CHARITABLE ACTIVITIES. ITS PRIMARY PURPOSE IS TO SUPPORT, BY CONTRIBUTIONS, OTHER CHARITABLE ORGANIZATIONS
EXEMPT UNDER INTERNAL REVENUE CODE SECTION 501(C)(3).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael B Picotte Vice President; <1hr/week | 0 | $0 | |
Margaret L Picotte President; <1hr/week | 0 | $0 | |
Nicole L Smith Secretary; <1hr/week | 0 | $0 | |
Michelle H Picotte Treasurer; <1hr/week | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $3,396 |
| Dividends & Interest | $59,300 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $173,986 |
| Capital Gain Net Income | $173,986 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $236,682 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $13,874 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $330 |
| Other expenses | $2,459 |
| Total operating and administrative expenses | $22,046 |
| Contributions, gifts, grants paid | $295,000 |
| Total expenses and disbursements | $317,046 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $144,264 |
| 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 | $500,000 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $1,992 |
| Total assets | $4,023,714 |
| 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, Michael & Margaret Picotte Foundation Inc has awarded $187,500 in support to 22 organizations.
| Grant Recipient | Amount |
|---|---|
ALBANY MED PURPOSE: GENERAL CHARITABLE PURPOSES | $5,000 |
BOSTON HOUSE PURPOSE: GENERAL CHARITABLE PURPOSES | $2,500 |
CASA MYRNA PURPOSE: GENERAL CHARITABLE PURPOSES | $5,000 |
COLLEGE OF ST ROSE PURPOSE: GENERAL CHARITABLE PURPOSES | $30,000 |
BERKSHIRE SCHOOL PURPOSE: GENERAL CHARITABLE PURPOSES | $5,000 |
COMMUNITY FOUNDATION OF THE CAPITAL REGION PURPOSE: GENERAL CHARITABLE PURPOSES | $25,000 |