Tersigni Family Foundation
- Assets
- $5.0m
- Revenue
- $385.8k
- Investments
- $4.9m
- Employees
- 0
- Location
- Bruce Township, MI
- Founding
- 06/2014
- Data as of
- 12/2022
- 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 12/2022, Tersigni Family Foundation generated $385.8k 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 (18.0%) each year. All expenses for the organization totaled $510.9k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Tersigni Family Foundation has awarded 29 individual grants totaling $3,342,125. 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
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 | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $180,763 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $204,975 |
| Capital Gain Net Income | $204,975 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $93 |
| Total Revenue | $385,831 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,113 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $60,352 |
| Contributions, gifts, grants paid | $450,500 |
| Total expenses and disbursements | $510,852 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $103,822 |
| 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 | $5,013,059 |
| 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 $450,500 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
AUSTIN CATHOLIC HS PURPOSE: TUITION ASSISSTANCE FUND | $500 |
NATIONAL SHRINE OF ST ELIZABETH ANN SETON PURPOSE: BENEFIT EDUCATIONAL ACTIVITIES | $250,000 |
GLOBAL SOLIDARITY FUND PURPOSE: BENEFIT EDUCATIONAL ACTIVITIES | $100,000 |
CATHOLIC CHARITIES OF SOUTHEAST PURPOSE: BENEFIT EDUCATIONAL ACTIVITIES | $100,000 |