Vita Nova Foundation Inc
- Assets
- $6.1m
- Revenue
- $128.3k
- Investments
- $0.0
- Employees
- 0
- Location
- West Palm Beach, FL
- Founding
- 03/2010
- Data as of
- 09/2021
- EIN
- 27-1020462
Organization Overview
Vita Nova Foundation Inc is located in West Palm Beach, FL. The organization was established in 2010. According to its NTEE Classification (L11) the organization is classified as: Single Organization Support, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Vita Nova 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 09/2021, Vita Nova Foundation Inc generated $128.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (11.3%) each year. All expenses for the organization totaled $610.9k during the year ending 09/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
A 509(A)(3) ORGANIZATION WHOSE MISSION IS TO HELP YOUNG ADULTS TRANSITION TO INDEPENDENCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
VITA NOVA FOUNDATION, INC. IS THE SUPPORTING ORGANIZATION FOR VITA NOVA, INC. THE MISSION OF VITA NOVA, INC. IS TO HELP YOUNG ADULTS TRANSITION TO INDEPENDENCE BY PROVIDING A STABLE, NURTURING ENVIRONMENT THAT INCLUDES HOUSING, COUNSELING, AND EDUCATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frank Gulisano President | OfficerTrustee | 2 | $0 |
Domenick Macri Sr Director | Trustee | 2 | $0 |
Anthony Marino Jr CPA Director | Trustee | 2 | $0 |
Alexandre Santos Director | Trustee | 2 | $0 |
David Scott Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $128,310 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $128,310 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $580,338 |
| Grants and other assistance to domestic individuals. | $0 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $900 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $29,623 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $50 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $610,911 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $6,061,526 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,061,526 |
| Accounts payable and accrued expenses | $67,668 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $67,668 |
| Net assets without donor restrictions | $5,993,858 |
| Net assets with donor restrictions | $0 |
| 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 | $6,061,526 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Vita Nova Foundation Inc has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Fidelity Investments Charitable Gift Fund Boston, MA PURPOSE: FOR GRANT RECIPIENT'S EXEMPT PURPOSES | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Florida Pace Centers Inc Miami, FL | $59,896,234 | $73,566,290 |
Vsu Auxiliary Services Real Estatefoundation Inc Valdosta, GA | $163,910,452 | $6,694,353 |
230 John Wesley Dobbs Boulevard Ventures Inc Atlanta, GA | $13,295,834 | $2,161,354 |
Lotus Endowment Fund Inc Miami Beach, FL | $47,005,317 | $1,449,247 |
Suncoast Manor Foundation Inc Orlando, FL | $5,520,358 | $1,508,546 |
University Plaza Properties Inc N Miami Beach, FL | $1,282,739 | $2,034,753 |
Ponce Plaza Properties Inc N Miami Beach, FL | $70,707 | -$7,840,527 |
Early Learning Property Management Inc Atlanta, GA | $26,441,881 | $2,751,537 |
Bright Community Trust Inc Clearwater, FL | $17,021,807 | $2,241,118 |
Arch Plaza Properties Inc N Miami Beach, FL | $36,348 | $836,763 |
Local Community Housing Corporation Tarpon Springs, FL | $1,361,837 | $599,108 |
Lhanc Real Estate Holdings Inc Miami, FL | $34,237 | $680,000 |