Irene P Sorbara Charitable Fdn
- Assets
- $2.6m
- Revenue
- $85.5k
- Investments
- $2.5m
- Employees
- 0
- Location
- Pittsburgh, PA
- Founding
- 12/2011
- Data as of
- 12/2022
- 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 12/2022, Irene P Sorbara Charitable Fdn generated $85.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (10.5%) each year. All expenses for the organization totaled $192.2k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Irene P Sorbara Charitable Fdn has awarded 16 individual grants totaling $1,020,799. 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
2022
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 | $65,802 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $19,723 |
| Capital Gain Net Income | $19,723 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $85,525 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $30,728 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $5,310 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $4,662 |
| Total operating and administrative expenses | $40,700 |
| Contributions, gifts, grants paid | $151,526 |
| Total expenses and disbursements | $192,226 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $103,873 |
| 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 | $1,544,207 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $1 |
| Total assets | $2,555,555 |
| 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 $151,526 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
DELAWARE TECHNICAL COMMUNITY PURPOSE: SCHOLARSHIPS | $114,526 |
Lewes, DE PURPOSE: SCHOLARSHIPS | $37,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Alfred P Sloan Foundation New York, NY | $2,105,880,634 | $192,527,982 |
Mastercard Impact Fund Purchase, NY | $207,268,769 | $96,050,288 |
Business Leadership Organized For Catholic Schools King Of Prussia, PA | $82,544,630 | $55,644,917 |
Central Pennsylvania Scholarship Fund Tyrone, PA | $42,508,819 | $45,167,381 |
Foundation For Advanced Education In The Sciences Inc Bethesda, MD | $54,757,501 | $41,367,941 |
Arcus Foundation New York, NY | $264,733,626 | $35,703,685 |
The Childrens Scholarship Fund New York, NY | $36,136,002 | $24,710,520 |
Math For America Inc New York, NY | $15,709,494 | $20,036,646 |
The Posse Foundation Inc New York, NY | $120,660,725 | $44,739,225 |
Inner-City Scholarship Fund Inc New York, NY | $115,829,957 | $24,751,034 |
Somerset Community Services Inc Marion Station, MD | $23,511,474 | $20,221,070 |
College Now Greater Cleveland Inc Cleveland, OH | $24,271,314 | $18,465,003 |