Passano Family Foundation
- Assets
- $2.6m
- Revenue
- $245.7k
- Investments
- $2.4m
- Employees
- 0
- Location
- Baltimore, MD
- Founding
- 06/2014
- Data as of
- 12/2021
- EIN
- 46-1499872
Organization Overview
Passano Family Foundation is located in Baltimore, MD. The organization was established in 2014. 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. Passano 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, Passano Family Foundation generated $245.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (13.2%) each year. All expenses for the organization totaled $197.3k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Passano Family Foundation has awarded 29 individual grants totaling $437,500. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Catherine Passano Mcdonnell Trustee/chair | 1 | $0 | |
Tamara A Passano Wiggs Trustee | 1 | $0 | |
Sarah R Passano Meech Trustee/vice-Chair/secretary | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $46,402 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $199,317 |
| Capital Gain Net Income | $199,317 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $245,719 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $15 |
| Taxes | $560 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $257 |
| Total operating and administrative expenses | $24,783 |
| Contributions, gifts, grants paid | $172,500 |
| Total expenses and disbursements | $197,283 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $228,185 |
| 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 | $1,741,358 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $2,644,558 |
| 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, Passano Family Foundation has awarded $172,500 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
Baltimore, MD PURPOSE: GENERAL OPERATIONS. | $60,000 |
THE JOHNS HOPKINS UNIVERSITY SCHOOL OF MEDICINE PURPOSE: GENERAL OPERATIONS. | $25,000 |
Towson, MD PURPOSE: GENERAL OPERATIONS. | $20,000 |
Baltimore, MD PURPOSE: GENERAL OPERATIONS. | $20,000 |
JOHNS HOPKINS UNIVERSITY PURPOSE: GENERAL OPERATIONS. | $10,000 |
GREENLIGHT BALTIMORE PURPOSE: GENERAL OPERATIONS. | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Diana Davis Spencer Foundation Bethesda, MD | $1,510,145,435 | $31,448,274 |
Davis Family Foundation Hanover, MD | $1,302,672,743 | $64,475,559 |
Bedford Falls Foundation C/O Joanne Barkett Conway Washington, DC | $61,666,880 | $84,617,094 |
The Rosser Foundation A Pure Charitable Trust And Public Charit Hampton, VA | $12,195,900 | $36,359,396 |
Walder Family Foundation Wilmington, DE | $215,951,796 | $11,130,940 |
Maguire Foundation West Conshohocken, PA | $0 | $10,846,953 |
Mabel Pew Myrin Trust Philadelphia, PA | $417,886,148 | $39,075,922 |
Max Stenbeck Foundation Wilmington, DE | $3,203,232 | $39,728,528 |
Neubauer Family Foundation Philadelphia, PA | $348,008,962 | $28,614,405 |
Quantitative Foundation Philadelphia, PA | $101,541,098 | -$10,401,387 |
Wallace Global Fund Ii Washington, DC | $136,169,792 | $23,961,855 |
J N Pew Jr Charitable Trust Philadelphia, PA | $309,649,040 | $25,152,087 |