Michael Racanelli Forever Young Foundation
- Assets
- $72.3k
- Revenue
- $97.0
- Investments
- $0.0
- Employees
- 0
- Location
- Brightwaters, NY
- Founding
- 08/2012
- Data as of
- 12/2020
- EIN
- 45-5216022
Organization Overview
Michael Racanelli Forever Young Foundation is located in Brightwaters, NY. The organization was established in 2012. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Michael Racanelli Forever Young 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 12/2020, Michael Racanelli Forever Young Foundation generated $97.0 in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (60.8%) each year. All expenses for the organization totaled $4.7k during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Barbara Racanelli Director | 0 | $0 | |
Michael Racanelli Trustee | 0 | $0 | |
Matthew Racanelli Director | 0 | $0 | |
Nicholas Racanelli Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $97 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $97 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,916 |
| Total operating and administrative expenses | $1,916 |
| Contributions, gifts, grants paid | $2,750 |
| Total expenses and disbursements | $4,666 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $72,266 |
| Savings and temporary cash investments | $0 |
| 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 | $72,266 |
| 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, Michael Racanelli Forever Young Foundation has awarded $2,750 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
MISSION BE PURPOSE: DONATION/CONTRIBUTION | $1,000 |
TRAIN FOR THE AM PURPOSE: DONATION/CONTRIBUTION | $1,000 |
ST PATRICKS PURPOSE: DONATION/CONTRIBUTION | $500 |
AMERICAN HEART ASSOCIATION PURPOSE: DONANTION/CONTRIBUTION | $250 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Richard K Lubin Family Foundation Boston, MA | $152,996,918 | $13,537,947 |
The Selz Foundation New York, NY | $142,395,054 | $24,456,334 |
Rita Allen Foundation Princeton, NJ | $219,012,203 | $23,878,841 |
The Derfner Foundation New York, NY | $158,472,968 | $13,106,656 |
Jill Roberts Charitable Foundation Inc Garden City, NY | $11,485 | $9,710,793 |
James And Merryl Tisch Foundation Inc New York, NY | $1,291,425 | $11,020,609 |
Tortuga Foundation New York, NY | $110,168,381 | $33,186,414 |
The Joseph H Flom Foundation New York, NY | $6,836,169 | $3,314,736 |
The Applebaum Foundation Inc New York, NY | $229,643,281 | $16,929,047 |
Deutsche Bank Americas Foundation New York, NY | $38,867,163 | $11,020,529 |
Charles A Dana Fdn Inc New York, NY | $248,257,333 | $20,769,847 |
The Powder Mill Foundation York, PA | $147,181,195 | $3,651,780 |