Sam And Mary Palumbo Family Foundation
- Assets
- $3.2m
- Revenue
- $783.0k
- Investments
- $1.9m
- Employees
- 0
- Location
- Hillside, IL
- Founding
- 03/2008
- Data as of
- 12/2021
- EIN
- 26-1553720
Organization Overview
Sam And Mary Palumbo Family Foundation is located in Hillside, IL. The organization was established in 2008. 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. Sam And Mary Palumbo 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 12/2021, Sam And Mary Palumbo Family Foundation generated $783.0k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.7% each year. All expenses for the organization totaled $243.3k during the year ending 12/2021. While expenses have increased by 4.7% 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, Sam And Mary Palumbo Family Foundation has awarded 204 individual grants totaling $1,765,274. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Longi Director | 1 | $0 | |
Mary Palumbo President | 1 | $0 | |
Donald Aleo Vice President | 1 | $0 | |
Jessica Palumbo Director | 1 | $0 | |
Kaitlyn Palumbo Director | 1 | $0 | |
Samantha Palumbo Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $655,533 |
| Interest on Savings | $64,883 |
| Dividends & Interest | $19,204 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $43,316 |
| Capital Gain Net Income | $43,316 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $38 |
| Total Revenue | $782,974 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $946 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $6,922 |
| Total operating and administrative expenses | $16,839 |
| Contributions, gifts, grants paid | $226,500 |
| Total expenses and disbursements | $243,339 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $27,235 |
| Savings and temporary cash investments | $783,542 |
| 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 | $500,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $1,100,000 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $3,242,072 |
| 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, Sam And Mary Palumbo Family Foundation has awarded $226,500 in support to 22 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF ILLINOIS AT URBANA CHAMPAIGN PURPOSE: SCHOLARSHIP | $33,500 |
ILLINOIS STATE UNIVERSITY PURPOSE: SCHOLARSHIP | $25,000 |
Chicago, IL PURPOSE: SCHOLARSHIP | $25,000 |
BEAR NECESSITIES PCFI PURPOSE: GENERAL | $18,500 |
BOSTON COLLEGE PURPOSE: SCHOLARSHIP | $13,000 |
DEPAUL UNIVERSITY PURPOSE: SCHOLARSHIP | $11,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Sam And Mary Palumbo Family Foundation has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
The Bill Bass Foundation Chicago, IL PURPOSE: GENERAL FUNDS | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
International Childrens Fund Inc Neenah, WI | $1,153,019 | $79,562,043 |
Pritzker Family Foundation Chicago, IL | $156,116,781 | $25,309,600 |
James S Mcdonnell Foundation St Louis, MO | $496,119,714 | $80,243,658 |
Patterson Family Foundation Kansas City, MO | $1,526,002,008 | $1,174,628,172 |
Paul M Angell Family Foundation Chicago, IL | $1,816,327 | $24,997,411 |
Alfred And Isabel Bader 2014 Charitable Trust Milwaukee, WI | $88,717,556 | $62,553,918 |
Nina Mason Pulliam Charitable Tr Indianapolis, IN | $513,484,211 | $27,103,020 |
Anthony Pritzker Fam Foundation Chicago, IL | $0 | $37,184,888 |
Robert And Adele Schiff Family Foundation Inc Milwaukee, WI | $226,331,394 | $18,541,997 |
Paula And Rodger Riney Foundation St Louis, MO | $118,536,395 | $1,770,419 |
Pritzker Traubert Foundation Chicago, IL | $0 | $14,671,849 |
Fund For Wisconsin Scholars Inc Madison, WI | $273,321,225 | $22,010,196 |