Irene P Sorbara Charitable Fdn
- Assets
- $2.5m
- Revenue
- $148.1k
- Investments
- $2.4m
- Employees
- 0
- Location
- Pittsburgh, PA
- Founding
- 12/2011
- Data as of
- 12/2023
- EIN
- 27-4154999
Organization Overview
Irene P Sorbara Charitable Fdn is located in Pittsburgh, PA. The organization was established in 2011. 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. Irene P Sorbara Charitable Fdn 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 12/2023, Irene P Sorbara Charitable Fdn generated $148.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (3.6%) each year. All expenses for the organization totaled $167.1k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Irene P Sorbara Charitable Fdn has awarded 18 individual grants totaling $1,157,653. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE SCHOLARSHIP ASSISTANCE TO 42 STUDENTS FOR STUDY AT TWO INSTITUTIONS
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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $72,135 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $74,771 |
| Capital Gain Net Income | $74,771 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,200 |
| Total Revenue | $148,106 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $30,553 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,105 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,481 |
| Total operating and administrative expenses | $33,139 |
| Contributions, gifts, grants paid | $133,968 |
| Total expenses and disbursements | $167,107 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $93,492 |
| 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 | $2,443,432 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $1 |
| Total assets | $2,536,925 |
| 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, Irene P Sorbara Charitable Fdn has awarded $133,968 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
BEEBE MEDICAL CENTER PURPOSE: SCHOLARSHIPS | $21,600 |
DELAWARE TECHNICAL COMMUNITY PURPOSE: SCHOLARSHIPS | $112,368 |