The Cestone Family Foundation Inc
- Assets
- $8.7m
- Revenue
- $829.2k
- Investments
- $8.5m
- Employees
- 0
- Location
- Pittsburgh, PA
- Founding
- 12/1996
- Data as of
- 12/2021
- EIN
- 22-6703196
Organization Overview
The Cestone Family Foundation Inc is located in Pittsburgh, PA. The organization was established in 1996. 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. Cestone 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 12/2021, Cestone Family Foundation Inc generated $829.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (9.6%) each year. All expenses for the organization totaled $630.5k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (6.6%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Cestone Family Foundation Inc has awarded 60 individual grants totaling $790,450. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
NOT APPLICABLE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michele J Cestone Treasurer/director | 35 | $75,000 | |
Maria A Cestone President/director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $316,672 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $509,266 |
| Capital Gain Net Income | $615,656 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $3,223 |
| Total Revenue | $829,161 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $75,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $12,000 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $173,459 |
| Contributions, gifts, grants paid | $457,000 |
| Total expenses and disbursements | $630,459 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $84 |
| Savings and temporary cash investments | $170,182 |
| Net Accounts receivable | $50,000 |
| 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 | $514,466 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $8,693,997 |
| 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 Cestone Family Foundation Inc has awarded $457,000 in support to 45 organizations.
| Grant Recipient | Amount |
|---|---|
Caldwell, NJ PURPOSE: MOUNT SAINT DOMINIC ACADEMY'S STUDENT FINANCIAL ASSISTANCE PROGRAM PROVIDES TUITION SUPPORT TO LOW- AND MIDDLE-INCOME FAMILIES WHO WANT TO PROVIDE THEIR DAUGHTERS WITH A CATHOLIC, COLLEGE-PREPARATORY EDUCATION THAT ALSO PREPARES THE YOUNG WOMEN TO BE GOOD GLOBAL CITIZENS. | $45,000 |
New York, NY PURPOSE: TO PROVIDE GENERAL OPERATING SUPPORT FOR CARNEGIE HALL'S ARTISTIC, EDUCATION, ARTIST TRAINING, AND SOCIAL IMPACT PROGRAMS DURING THE 2021-2022 SEASON. | $25,000 |
Los Angeles, CA PURPOSE: RELIEF EFFORTS FOR THE 2021 EARTHQUAKE AND SUBSEQUENT TROPICAL STORM IN HAITI. | $25,000 |
AMERICAN NATIONAL RED CROSS PURPOSE: AMERICAN RED CROSS WILL PROVIDE HELP AND HOPE TO PEOPLE AFFECTED BY DISASTERS. | $20,000 |
GREAT SWAMP WATERSHED ASSOCIATION PURPOSE: A GENERAL OPERATING SUPPORT GRANT FROM THE CESTONE FAMILY FOUNDATION WILL ENABLE GSWA TO CONTINUE EXPANDING & IMPROVING ITS IMPACTFUL WATER QUALITY MONITORING & STEM BASED ENVIRONMENTAL EDUCATION PROGRAMS & SERVICES & ENGAGE OUR URBAN COMMUNITIES FOR THE BENEFIT OF CURRENT & FUTURE GENERATIONS. | $20,000 |
Parsippany, NJ PURPOSE: ENABLING OUR NONPROFIT TO CONTINUE PROVIDING SHELTER, COUNSELING AND EMPLOYMENT TRAINING TO 1,000 HOMELESS AND DESTITUTE VETERANS AND THEIR FAMILY MEMBERS ANNUALLY THROUGHOUT NJ COMMUNITIES AND THE DEVELOPMENT OF A NEW HOUSING PROGRAM EXCLUSIVELY FOR FEMALE VETERANS TO MEET THEIR UNIQUE ISSUES. | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
S & G Foundation albany, NY | $1,180,089,159 | $294,936,683 |
Starr Foundation New York, NY | $1,351,331,495 | $187,314,215 |
Robertson Foundation New York, NY | $308,129,047 | $104,540,927 |
William Randolph Hearst Foundation New York, NY | $0 | $92,096,829 |
Foundation For A Just Society New York, NY | $0 | $262,120,919 |
Surdna Foundation Inc New York, NY | $0 | $71,392,126 |
Johnson & Johnson Foundation United States Inc New Brunswick, NJ | $130,108,063 | $92,858,448 |
Carson Fam Charitable Tr New York, NY | $302,357,968 | $144,716,166 |
Blavatnik Family Foundation 2020 New York, NY | $0 | $14,146 |
Diana Davis Spencer Foundation Bethesda, MD | $1,510,145,435 | $31,448,274 |
Davis Family Foundation Hanover, MD | $1,302,672,743 | $64,475,559 |
Henry Luce Foundation Inc New York, NY | $1,226,277,880 | $84,818,070 |