The Fruscione Foundation
- Assets
- $1.7m
- Revenue
- $341.2k
- Investments
- $1.7m
- Employees
- 0
- Location
- Trenton, NJ
- Founding
- 01/1987
- Data as of
- 12/2022
- EIN
- 22-2725198
Organization Overview
The Fruscione Foundation is located in Trenton, NJ. The organization was established in 1987. 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. Fruscione 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 12/2022, Fruscione Foundation generated $341.2k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 38.0% each year . All expenses for the organization totaled $188.8k during the year ending 12/2022. While expenses have increased by 12.4% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Fruscione Foundation has awarded 28 individual grants totaling $349,000. 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEMORIAL SLOAN KETTERING - CANCER RESEARCH
EDUCATION, SCHOLARSHIP AWARD STUART DAY SCHOOL
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ms Angela Fruscione Treasurer | 0 | $0 | |
Mr Mrs Sa Fruscione Founding Mgr | 0 | $0 | |
Mr Mrs J Hedden Founding Mgr | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $120,000 |
| Interest on Savings | $242 |
| Dividends & Interest | $52,319 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $168,617 |
| Capital Gain Net Income | $168,617 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $341,178 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $349 |
| Other expenses | $0 |
| Total operating and administrative expenses | $12,281 |
| Contributions, gifts, grants paid | $176,500 |
| Total expenses and disbursements | $188,781 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,657 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,677,825 |
| 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 Fruscione Foundation has awarded $176,500 in support to 23 organizations.
| Grant Recipient | Amount |
|---|---|
STUART COUNTRY DAY SCHOOL PURPOSE: EDUCATION | $88,000 |
CASSIDY COMFORT PURPOSE: GRADUATE STUDIES | $2,500 |
ST ANNS SCHOOL PURPOSE: EDUCATION | $2,500 |
MEMORIAL SLOAN KETTERING PURPOSE: MEDICAL RESEARCH | $15,000 |
PRINCETON ACADEMY OF THE SCARED HEART PURPOSE: EDUCATION | $3,500 |
SKI AND SNOWBOARD CLUB OF VAIL PURPOSE: SCHOLARSHIP | $1,500 |