Rudolph J Torello Foundation Inc
- Assets
- $1.2m
- Revenue
- $170.5k
- Investments
- $1.0m
- Employees
- 0
- Location
- Oakhurst, NJ
- Founding
- 08/2001
- Data as of
- 12/2022
- EIN
- 22-3727014
Organization Overview
Rudolph J Torello Foundation Inc is located in Oakhurst, NJ. The organization was established in 2001. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, 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. Rudolph J Torello 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, Rudolph J Torello Foundation Inc generated $170.5k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 14.2% each year . All expenses for the organization totaled $209.3k during the year ending 12/2022. While expenses have increased by 8.1% 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 2017, Rudolph J Torello Foundation Inc has awarded 70 individual grants totaling $725,245. 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
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Claudio Innocenti President | 20 | $0 | |
Douglas M Duritza Secretary | 1 | $0 | |
Frank J Collette Treasurer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $70,781 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $99,757 |
| Capital Gain Net Income | $99,757 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $170,538 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $2,602 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $861 |
| Total operating and administrative expenses | $32,664 |
| Contributions, gifts, grants paid | $176,675 |
| Total expenses and disbursements | $209,339 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $581 |
| Savings and temporary cash investments | $120,960 |
| 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 | $1,160,158 |
| 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, Rudolph J Torello Foundation Inc has awarded $176,675 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
BOSTON ANTHENAEUM PURPOSE: GENERAL | $2,000 |
EASTERN MONMOUTH AREA CHAMBER OF COMMERCE EDUCATIONAL FOUNDATION PURPOSE: GENERAL | $7,000 |
CHENOA MANOR PURPOSE: GENERAL | $2,000 |
DWIGHT-ENGLEWOOD SCHOOL PURPOSE: GENERAL | $85,000 |
JAJJAS KIDS INC PURPOSE: GENERAL | $10,000 |
MONMOUTH COUNTY CHILD ADVOCACY CENTER PURPOSE: GENERAL | $10,000 |