Joe Garassino Foundation Inc
- Assets
- $409.6k
- Revenue
- $122.6k
- Investments
- $188.0k
- Employees
- 0
- Location
- Watertown, CT
- Founding
- 08/2013
- Data as of
- 12/2021
- EIN
- 46-2601479
Organization Overview
Joe Garassino Foundation Inc is located in Watertown, CT. The organization was established in 2013. According to its NTEE Classification (T12) the organization is classified as: Fund Raising & Fund Distribution, 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. Joe Garassino 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 12/2021, Joe Garassino Foundation Inc generated $122.6k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.4% each year . All expenses for the organization totaled $28.7k during the year ending 12/2021. While expenses have increased by 18.6% per year over the past 7 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE JOE GARASSINO FOUNDATION IS TO PROVIDE RESOURCES TO PERSONS CHALLENGED BY CHOLANGIOCARCINOMA AND OTHER CANCERS IN A WAY THAT BROADENS AWARENESS AND PROVIDES FUNDING FOR SHELTER, MEDICINE, AND TREATMENT, SO THAT THOSE AFFECTED MAY BE FOCUSED ON MUTUAL SUPPORT AND ENCOURAGEMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ANNUAL GOLF TOURNAMENT - PROCEEDS FROM THIS TOURNAMENT ALLOWS THE ORGANZATION TO CONTRIBUTE TO PERSONS CHALLENGED BY CHOLANGIOCARCINOMA AND OTHER CANCERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Garassino President | Officer | 15 | $0 |
Denise Benemerito Treasurer | Officer | 5 | $0 |
Robert Scott Vice President | Officer | 5 | $0 |
Paul Obear Secretary | Officer | 3 | $0 |
Karen Mcwhirt Director | Trustee | 2 | $0 |
Lisa Benemerito Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $18,065 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $18,065 |
| Total Program Service Revenue | $0 |
| Investment income | $15,668 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $5,279 |
| Net Income from Fundraising Events | $76,916 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $122,564 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $26,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,349 |
| All other expenses | $0 |
| Total functional expenses | $28,662 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,941 |
| Savings and temporary cash investments | $212,670 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $187,998 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $409,609 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $409,609 |
| Total liabilities and net assets/fund balances | $409,609 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Joe Garassino Foundation Inc has recieved totaling $5.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $5 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Clara Lionel Foundation New York, NY | $44,086,810 | $23,596,509 |
Visionspring New York, NY | $15,269,850 | $12,679,680 |
America Gives Inc New York, NY | $1,069,288 | $7,827,978 |
Foundations In Education Inc Bridgeport, CT | $36,181,181 | $11,526,982 |
Grant Recommendation Fund Spring Valley, NY | $460,055 | $4,767,095 |
The Catherine Jefferson Foundation Darien, CT | $18,987,801 | $13,741,460 |
Bikoff Foundation Whitestone, NY | $65,723,002 | $14,790,071 |
Giving Tuesday Inc Brooklyn, NY | $1,987,227 | $3,527,479 |
The Meringoff Family Foundation Inc New York, NY | $455,360 | $3,000,005 |
Island Outreach Foundation Inc Center Moriches, NY | $19,989,596 | $2,168,344 |
University Of The Andes Foundation Inc New York, NY | $11,245,685 | $2,158,813 |
Goodman-Lipman Family Foundation Inc Larchmont, NY | $13,467,092 | $1,080,767 |