Tersigni Family Foundation
- Assets
- $5.1m
- Revenue
- $1.1m
- Investments
- $4.8m
- Employees
- 0
- Location
- Bruce Township, MI
- Founding
- 06/2014
- Data as of
- 12/2021
- EIN
- 45-4057678
Organization Overview
Tersigni Family Foundation is located in Bruce Township, MI. The organization was established in 2014. According to its NTEE Classification (Y99) the organization is classified as: Mutual & Membership Benefit N.E.C., under the broad grouping of Mutual & Membership Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tersigni 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, Tersigni Family Foundation generated $1.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (16.9%) each year. All expenses for the organization totaled $327.5k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (34.9%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Tersigni Family Foundation has awarded 25 individual grants totaling $2,891,625. 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
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE FUNDS TO ORGANIZATIONS OPERATING EXCLUSIVELY FOR RELIGIOUS, CHARITABLE, SCIENTIFIC, LITERARY AND EDUCATIONAL PURPOSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Tersigni President | 1 | $0 | |
Andrea Taravella Secretary/treasurer | 1 | $0 | |
Maria Tarrant Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,000,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $123,996 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$65,487 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $805 |
| Total Revenue | $1,059,314 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,048 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $50,937 |
| Contributions, gifts, grants paid | $276,600 |
| Total expenses and disbursements | $327,537 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $300,944 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $5,138,080 |
| 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, Tersigni Family Foundation has awarded $276,600 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
NATIONAL SHRINE OF ST ELIZABETH ANN SETON PURPOSE: BENEFIT EDUCATIONAL ACTIVITIES | $250,000 |
Washington, DC PURPOSE: BENEFIT STUDENT ACTIVITIES | $25,000 |
AUSTIN CATHOLIC HS PURPOSE: TUITION ASSISSTANCE FUND | $1,600 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
718 Atomic Credit Union Inc Piketon, OH | $496,858,759 | $31,070,949 |
18 Ohios First Class Credit Union Cleveland, OH | $56,539,673 | $3,337,058 |
Columbus Next Generation Corporation Columbus, OH | $5,604,972 | $4,073,729 |
Managing Partners Association Of The Nw Mutual Financial Network Milwaukee, WI | $542,015 | $1,286,082 |
Greater Cincinnati Golf Association Cincinnati, OH | $788,906 | $1,115,677 |
Union Club Two Inc Springfield, OH | $20,243 | $670,806 |
Catholic Community Connection Cleveland, OH | $751,287 | $668,373 |
Johnson Mutual Benefit Association Racine, WI | $1,414,067 | $586,399 |
Voiture Nationale La Societe Des 40 Hommes Et 8 Chevaux Indianapolis, IN | $1,618,722 | $634,814 |
Putnam Community Water Corp Marietta, OH | $3,974,964 | $507,120 |
First Farm Mutual Ins Co Seymour, IN | $1,212,592 | $390,601 |
Tersigni Family Foundation Bruce Township, MI | $5,138,080 | $1,059,314 |