Verrecchia Family Foundation Inc
- Assets
- $991.5k
- Revenue
- $160.7k
- Investments
- $981.6k
- Employees
- 0
- Location
- Narragansett, RI
- Founding
- 03/2012
- Data as of
- 12/2022
- EIN
- 45-4067662
Organization Overview
Verrecchia Family Foundation Inc is located in Narragansett, RI. The organization was established in 2012. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Verrecchia Family 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 12/2022, Verrecchia Family Foundation Inc generated $160.7k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 19.0% each year . All expenses for the organization totaled $181.6k during the year ending 12/2022. While expenses have increased by 6.2% per year over the past 4 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Verrecchia Family Foundation Inc has awarded 153 individual grants totaling $439,165. 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
CHARITABLE ACTIVITIES CONSISTED OF MAKING GRANTS TO PUBLIC CHARITIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alfred Verrecchia President And Director | 0 | $0 | |
Geraldine Verrecchia Treasurer And Director | 0 | $0 | |
Michele Levy Secretary And Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $17,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $19,540 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $75,535 |
| Capital Gain Net Income | $77,829 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $48,657 |
| Total Revenue | $160,732 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,518 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $50 |
| Total operating and administrative expenses | $17,769 |
| Contributions, gifts, grants paid | $163,800 |
| Total expenses and disbursements | $181,569 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $935 |
| Savings and temporary cash investments | $7,465 |
| 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 | $1,528 |
| Total assets | $991,520 |
| 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, Verrecchia Family Foundation Inc has awarded $163,800 in support to 53 organizations.
| Grant Recipient | Amount |
|---|---|
ST ANDREW'S SCHOOL PURPOSE: GENERAL PURPOSES OF THE ORGANIZATION | $14,000 |
ADOPTION RHODE ISLAND PURPOSE: GENERAL PURPOSES OF THE ORGANIZATION | $12,600 |
BRADLEY HOSPITAL PURPOSE: GENERAL PURPOSES OF THE ORGANIZATION | $25,000 |
WOLF SCHOOL PURPOSE: GENERAL PURPOSES OF THE ORGANIZATION | $30,000 |
GABRIELLE DINSMORE HEART & HOPE FUND PURPOSE: GENERAL PURPOSES OF THE ORGANIZATION | $0 |
WOMEN'S & INFANTS FOUNDATION PURPOSE: GENERAL PURPOSES OF THE ORGANIZATION | $7,500 |