James J Pallotta Charitable Trust
- Assets
- $8.3m
- Revenue
- $2.7m
- Investments
- $7.8m
- Employees
- 0
- Location
- Weston, MA
- Founding
- 03/1993
- Data as of
- 12/2022
- EIN
- 22-3208194
Organization Overview
James J Pallotta Charitable Trust is located in Weston, MA. The organization was established in 1993. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. James J Pallotta Charitable Trust 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, James J Pallotta Charitable Trust generated $2.7m in total revenue. All expenses for the organization totaled $2.1m during the year ending 12/2022. While expenses have increased by 228.5% per year over the past 4 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 2020, James J Pallotta Charitable Trust has awarded 47 individual grants totaling $8,841,526. 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 IS NOT INVOLVED IN ANY DIRECT CHARITABLE ACTIVITIES. IT'S PRIMARY PURPOSE IS TO SUPPORT, BY CONTRIBUTIONS,OTHER ORGANIZATIONS EXEMPT UNDER IRC 501(C)(3)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James J Pallotta Trustee | 1 | $0 | |
Kimberly S Pallotta Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,339,461 |
| Interest on Savings | $2,396 |
| Dividends & Interest | $82,009 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,272,923 |
| Capital Gain Net Income | $1,272,923 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | -$35,054 |
| Total Revenue | $2,661,735 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $2,247 |
| Taxes | $20,000 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $45,462 |
| Total operating and administrative expenses | $73,009 |
| Contributions, gifts, grants paid | $2,027,500 |
| Total expenses and disbursements | $2,100,509 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $523,082 |
| 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 | $2,515,047 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $8,327,404 |
| 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, James J Pallotta Charitable Trust has awarded $1,993,712 in support to 22 organizations.
| Grant Recipient | Amount |
|---|---|
3POINT FOUNDATION PURPOSE: GENERAL PURPOSE. | $25,000 |
THE MICHAEL J FOX FOUNDATION PURPOSE: GENERAL PURPOSE. | $400,000 |
MOTHER CAROLINE ACADEMY PURPOSE: GENERAL PURPOSE. | $25,000 |
THE BUONICONTI FUND TO CURE PARALYSIS PURPOSE: GENERAL PURPOSE | $25,000 |
NANTUCKET BOYS & GIRLS CLUB PURPOSE: GENERAL PURPOSE | $125,000 |
BLYTHEDALE CHILDREN'S HOSPITAL PURPOSE: GENERAL PURPOSE | $15,400 |