Martino Family Foundation
- Assets
- $84.1m
- Revenue
- $1.2m
- Investments
- $83.6m
- Employees
- 0
- Location
- New Canaan, CT
- Founding
- 01/2013
- Data as of
- 12/2023
- EIN
- 45-6635594
Organization Overview
Martino Family Foundation is located in New Canaan, CT. The organization was established in 2013. 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. Martino 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 12/2023, Martino Family Foundation generated $1.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (16.5%) each year. All expenses for the organization totaled $4.8m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Martino Family Foundation has awarded 110 individual grants totaling $24,125,000. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael E Martino Director | 0 | $0 | |
Lisa Ferraro Director | 0 | $0 | |
John Grizzetti Treasurer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $504 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,187,649 |
| Capital Gain Net Income | $1,187,649 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,188,153 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $2,163 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $2,498 |
| Contributions, gifts, grants paid | $4,778,000 |
| Total expenses and disbursements | $4,780,498 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $419,961 |
| 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 | $84,061,506 |
| 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, Martino Family Foundation has awarded $4,778,000 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
THE FEDERALIST SOCIETY PURPOSE: CHARITABLE | $400,000 |
DANA-FARBER CANCER INSTITUTE PURPOSE: CHARITABLE | $1,000,000 |
INNER-CITY SCHOLARSHIP FUND PURPOSE: CHARITABLE | $800,000 |
CATO INSTITUTE PURPOSE: CHARITABLE | $150,000 |
ANNUAL CATHOLIC APPEAL PURPOSE: CHARITABLE | $100,000 |
BOYS AND GIRLS CLUB OF STAMFORD PURPOSE: CHARITABLE | $28,000 |