Petrucci Family Foundation Inc
- Assets
- $18.6m
- Revenue
- $315.9k
- Investments
- $17.3m
- Employees
- 0
- Location
- Asbury, NJ
- Founding
- 04/2006
- Data as of
- 12/2022
- EIN
- 20-1601999
Organization Overview
Petrucci Family Foundation Inc is located in Asbury, NJ. The organization was established in 2006. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Petrucci Family 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 12/2022, Petrucci Family Foundation Inc generated $315.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (29.8%) each year. All expenses for the organization totaled $1.2m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Petrucci Family Foundation Inc has awarded 217 individual grants totaling $3,824,859. 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
THE FOUNDATION DOES NOT MAINTAIN A PROGRAM OF CHARITABLE ACTIVITIES AS DEFINED IN THE INSTRUCTIONS FOR FORMS 990-PF. THE FOUNDATION DOES INCUR NOMINAL EXPENSES TO AID DONEES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James G Petrucci Trustee - P/t | 5 | $0 | |
Jeanne Petrucci Trustee - P/t | 5 | $0 | |
Emilia Rose Sochovka Trustee - P/t | 5 | $0 | |
Joseph Ronald James Petrucci Trustee - P/t | 5 | $0 | |
Michael Petrecca Trustee - P/t | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $20,000 |
| Interest on Savings | $26,972 |
| Dividends & Interest | $285,765 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$16,859 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $315,878 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $27,132 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $59,862 |
| Total operating and administrative expenses | $86,994 |
| Contributions, gifts, grants paid | $1,106,256 |
| Total expenses and disbursements | $1,193,250 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,226,718 |
| Savings and temporary cash investments | $0 |
| 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 | $6,543,547 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $23,667 |
| Total assets | $18,587,547 |
| 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, Petrucci Family Foundation Inc has awarded $1,106,256 in support to 39 organizations.
| Grant Recipient | Amount |
|---|---|
BRIGHT HOPE PURPOSE: CONTRIBUTION | $10,000 |
DELBARTON SCHOOL PURPOSE: CONTRIBUTION | $607,000 |
COMMUNITY ACTION COMMITTEE PURPOSE: CONTRIBUTION | $15,000 |
CONTRIBUTIONS UNDER 1000 PURPOSE: CONTRIBUTION | $4,590 |
DIVERSITY IN DIETETICS PURPOSE: CONTRIBUTION | $57,500 |
EMPOWER THE VILLAGE PURPOSE: CONTRIBUTION | $5,000 |