Vir Fidelis Fund
- Assets
- $3.8m
- Revenue
- $429.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Staten Island, NY
- Founding
- 02/2015
- Data as of
- 08/2023
- EIN
- 47-1968972
Organization Overview
Vir Fidelis Fund is located in Staten Island, NY. The organization was established in 2015. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Vir Fidelis Fund 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 08/2023, Vir Fidelis Fund generated $429.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (6.0%) each year. All expenses for the organization totaled $1.5m during the year ending 08/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Vir Fidelis Fund has awarded 17 individual grants totaling $3,188,663. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE VIR FIDELIS FUND, INC. IS TO SOLICIT, RAISE, AND DISTRIBUTE FUNDS FOR THE ACADEMIC, SOCIAL, AND SPORTS PROGRAMS AT MONSIGNOR FARRELL HIGH SCHOOL. FUNDS WILL BE RAISED THROUGH DONATIONS FROM ALUMNI, PARENTS, AND FRIENDS BY SOLICIATION, LETTERS, PHONE CALLS, DINNERS, SPORTING EVENTS, DANCES, LUNCHEONS, AND OTHER SIMILAR EVENTS. IN ADDITION, GRANTS TO MONSIGNOR FARRELL HIGH SCHOOL INCLUDE FOR TUITION SCHOLARSHIPS, FINANCIAL AID, BLOOMBERG TICKER, AND LOAN PRINCIPLE AND INTEREST.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS TO MONSIGNOR FARRELL HIGH SCHOOL - THE TOTAL AMOUNT OF GRANTS FOR THE YEAR ENDED AUGUST 31, 2023 EQUALED $1,422,936. TUITION SCHOLARSHIPS $ 500,000FINANCIAL AID $ 140,880BLOOMBERG TICKER $ 91,050LOAN PRINCIPLE AND INTEREST $ 691,006TOTAL GRANTS $1,422,936
THE PURPOSE OF THE CORPORATION IS TO SOLICIT, RAISE, AND DISTRIBUTE FUNDS FOR THE ACADEMIC , SOCIAL, AND SPORTS PROGRAMS AT MONSIGNOR FARRELL HIGH SCHOOL FUNDS WILL BE RAISED THROUGH DONATIONS FROM ALUMNI, PARENTS, AND FRIENDS BY SOLICITATION, LETTERS, PHONE CALLS, DINNERS, SPORTING EVENTS, DANCES, LUNCHEONS, AND OTHER SIMILAR EVENTS. EXPENSES INCLUDED BLACKBAUD MAINTENANCE, POSTAGE AND SHIPPING, DUES AND SUBSCRIPTIONS, TRAVEL AND MEALS, AND PRINTING EXPENSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
FR Louis Jerome Director | Trustee | 2 | $0 |
Lou Bergonzi Secretary | OfficerTrustee | 2 | $0 |
Frank Sinatra Sr Director | Trustee | 2 | $0 |
Philip Geraci Director | Trustee | 2 | $0 |
Brendan Cameron Treasurer | OfficerTrustee | 2 | $0 |
Jack Mcgowan 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 | $412,195 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $412,195 |
| Total Program Service Revenue | $0 |
| Investment income | $17,264 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $429,459 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,422,936 |
| Grants and other assistance to domestic individuals. | $0 |
| 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 | $5,990 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $16,000 |
| Advertising and promotion | $0 |
| Office expenses | $4,308 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $515 |
| 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 | $0 |
| All other expenses | $14,725 |
| Total functional expenses | $1,527,942 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $575,958 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $937,234 |
| Accounts receivable, net | $9,300 |
| 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 | $2,218,609 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $26,584 |
| Total assets | $3,767,685 |
| Accounts payable and accrued expenses | $39,329 |
| Grants payable | $0 |
| Deferred revenue | $3,004 |
| 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 | $42,333 |
| Net assets without donor restrictions | $3,354,068 |
| Net assets with donor restrictions | $371,284 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $3,767,685 |
Grants Awarded
Over the last fiscal year, Vir Fidelis Fund has awarded $1,422,936 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
MONSIGNOR FARRELL HIGH SCHOOL PURPOSE: Bloomberg Ticker | $91,050 |
MONSIGNOR FARRELL HIGH SCHOOL PURPOSE: Financial Aid | $140,880 |
MONSIGNOR FARRELL HIGH SCHOOL PURPOSE: Tuition Scholarships | $500,000 |
MONSIGNOR FARRELL HIGH SCHOOL PURPOSE: Loan Principle and Interest | $691,006 |