Petit Family Foundation
- Assets
- $4.8m
- Revenue
- $944.4k
- Investments
- $0.0
- Employees
- 2
- Location
- Plainville, CT
- Founding
- 04/2009
- Data as of
- 06/2022
- EIN
- 26-0627813
Organization Overview
Petit Family Foundation is located in Plainville, CT. The organization was established in 2009. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 06/2022, Petit Family Foundation employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Petit Family 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 06/2022, Petit Family Foundation generated $944.4k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.0% each year. All expenses for the organization totaled $940.0k during the year ending 06/2022. While expenses have increased by 4.5% per year over the past 7 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 2015, Petit Family Foundation has awarded 213 individual grants totaling $4,117,920. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE PETIT FAMILY FOUNDATION HONORS THE MEMORIES OF JENNIFER HAWKE-PETIT, HAYLEY ELIZABETH PETIT, AND MICHAELA ROSE PETIT BY CONTINUING THE KINDNESS, IDEALISM AND ACTIVISM THAT DEFINED THEIR LIVES. THE FOUNDATION'S FUNDS ARE GIVEN TO FOSTER THE EDUCATION OF YOUNG PEOPLE, ESPECIALLY WOMEN IN THE SCIENCES; TO IMPROVE THE LIVES OF THOSE AFFECTED BY CHRONIC ILLNESS; AND TO SUPPORT EFFORTS TO PROTECT AND HELP THOSE AFFECTED BY VIOLENCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONTRIBUTIONS ARE PROVIDED TO CHARITABLE & EDUCATIONAL INSTITUTIONS TO FOSTER THE EDUCATION OF YOUNG PEOPLE, ESPECIALLY WOMEN IN THE SCIENCES; TO IMPROVE THE LIVES OF THOSE AFFECTED BY CHRONIC ILLNESSES; AND TO SUPPORT EFFORTS TO PROTECT AND HELP THOSE AFFECTED BY VIOLENCE.
SCHOLARSHIPS ARE PROVIDED TO CHILDREN AND YOUNG ADULTS IN NEED TO ASSIST WITH THEIR EDUCATION.
THE FOUNDATION SELLS VARIOUS MERCHANDISE INCLUDING FOUR O'CLOCK FLOWER SEEDS. THE SALE OF THE FLOWER SEEDS IS PART OF MICHAELA'S GARDEN PROJECT, WHICH WAS DESIGNED TO ENCOURAGE AREA FAMILIES AND YOUTH TO BECOME MORE INVOLVED IN COMMUNITY SERVICE. EACH YEAR THE FOUR OCLOCKS HAVE BEEN RE- PLANTED FROM HARVESTED SEEDS. THE SEEDS FROM THESE PLANTS WERE HARVESTED, PACKED AND ARE BEING SOLD IN SPECIALLY DESIGNED PACKS OF 25 SEEDS. THE OTHER MERCHANDISE SOLD ARE SHIRTS, JACKETS, HATS, BLANKETS, LUMINARIES, TOTES AND BAGS, DECALS, WRISTBANDS, CHARMS, AND PINS. THE FUNDS RAISED THROUGH THE SELLING OF THESE PRODUCTS ARE DISBURSED TO ORGANIZATIONS AND INDIVIDUALS TO HELP FOSTER THE EDUCATION OF YOUNG PEOPLE, ESPECIALLY WOMEN IN THE SCIENCES; TO IMPROVE THE LIVES OF THOSE AFFECTED BY CHRONIC ILLNESSES; AND TO SUPPORT EFFORTS TO PROTECT AND HELP THOSE AFFECTED BY VIOLENCE.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William A Petit Jr President | OfficerTrustee | 42 | $0 |
Johanna Chapman-Petit Vice Preside | OfficerTrustee | 7 | $0 |
Ronald A Bucchi Treasurer | OfficerTrustee | 20 | $0 |
Bernard J Lidestri Secretary | OfficerTrustee | 5 | $0 |
Joseph O Ierna Emeritus | Trustee | 1 | $0 |
Richard A Bucchi Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $1,600 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $390,836 |
| Noncash contributions included in lines 1a–1f | $106,264 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $392,436 |
| Total Program Service Revenue | $0 |
| Investment income | $157,369 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $221,324 |
| Net Income from Fundraising Events | $161,896 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $944,431 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $749,388 |
| Grants and other assistance to domestic individuals. | $17,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $54,958 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $4,733 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $44,979 |
| Fees for services: Other | $12,376 |
| Advertising and promotion | $4,132 |
| Office expenses | $19,424 |
| Information technology | $7,236 |
| Royalties | $0 |
| Occupancy | $6,900 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $786 |
| Insurance | $3,678 |
| All other expenses | $0 |
| Total functional expenses | $940,011 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $263,635 |
| Savings and temporary cash investments | $488,348 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,150 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $2,422 |
| Investments—publicly traded securities | $4,044,665 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,505 |
| Total assets | $4,809,725 |
| Accounts payable and accrued expenses | $6,716 |
| Grants payable | $0 |
| Deferred revenue | $26,925 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $33,641 |
| Net assets without donor restrictions | $4,013,032 |
| Net assets with donor restrictions | $763,052 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $4,809,725 |
Grants Awarded
Over the last fiscal year, Petit Family Foundation has awarded $749,388 in support to 45 organizations.
| Grant Recipient | Amount |
|---|---|
ALS ASSOCIATION CONNECTICUT CHAPTER PURPOSE: PROGRAMS | $10,000 |
BOYS & GIRLS CLUB AND FAMILY CENTEROF BRISTOL INC PURPOSE: PROGRAMS | $10,750 |
CIRCLE OF CARE FOR FAMILIES OFCHILDREN WITH CANCER INC PURPOSE: PROGRAMS | $10,000 |
CONNECTICUT BEARDSLEY ZOOCONNECTICUT ZOOLOGICAL SOCIETY INC PURPOSE: PROGRAMS | $10,000 |
CONNECTICUT COURT APPOINTED SPECIALADVOCATES FOR CHILDREN PURPOSE: PROGRAMS | $7,500 |
CONNECTICUT SCIENCE CENTER PURPOSE: PROGRAMS | $20,000 |