The Margaret Foti Foundation
- Assets
- $1.1m
- Revenue
- $180.3k
- Investments
- $1.0m
- Employees
- 0
- Location
- Wilmington, DE
- Founding
- 04/2015
- Data as of
- 12/2023
- EIN
- 47-2400869
Organization Overview
The Margaret Foti Foundation is located in Wilmington, DE. The organization was established in 2015. 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. Margaret Foti 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, Margaret Foti Foundation generated $180.3k in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 12.8% each year . All expenses for the organization totaled $52.7k during the year ending 12/2023. While expenses have increased by 17.0% per year over the past 9 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peter A Certo Jr VP | 1 | $0 | |
Donna Certo-Mirabelli VP | 1 | $0 | |
Margaret Foti Pres, Dir, Sec, Treas | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $152,184 |
| Interest on Savings | $572 |
| Dividends & Interest | $28,647 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$1,095 |
| Capital Gain Net Income | $127,063 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | -$3 |
| Total Revenue | $180,305 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $605 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $7,550 |
| Total operating and administrative expenses | $17,669 |
| Contributions, gifts, grants paid | $35,000 |
| Total expenses and disbursements | $52,669 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $28,931 |
| 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 | $1,069,461 |
| 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, The Margaret Foti Foundation has awarded $21,161 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN ASSOCIATION FOR CANCER RESEARCH PURPOSE: SCHOLAR-IN-TRAINING AWARD FOR THE 2020 ANNUAL MEETING | $361 |
AMERICAN ASSOCIATION FOR CANCER RESEARCH PURPOSE: SCHOLASTIC CANCER RESEARCH PRIZES AND SCHOLAR-IN-TRAINING AWARDS | $15,300 |
MILLAY CLUB-SOUTHEAST CATHOLIC BISHOP NEUMAN ALUMN PURPOSE: SAINTS JOHN NEUMANN & MARIA GORETTI CATHOLIC HIGH SCHOOL STUDENT SCHOLARSHIPS FUND | $4,000 |
OLD SAINT JOSEPHS CHURCH PURPOSE: GENERAL & UNRESTRICTED | $1,500 |