Paul And Norma Facella Memorial Scholarship Foundation

Organization Overview

Paul And Norma Facella Memorial Scholarship Foundation is located in Malden, MA. 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. Paul And Norma Facella Memorial Scholarship 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 06/2022, Paul And Norma Facella Memorial Scholarship Foundation generated $540.5k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 23.8% each year . All expenses for the organization totaled $330.4k during the year ending 06/2022. While expenses have increased by 4.2% per year over the past 5 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.

Since 2017, Paul And Norma Facella Memorial Scholarship Foundation has awarded 94 individual grants totaling $1,060,000. 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.

Mission & Program ActivityExcerpts From the 990PF Filing

TAX YEAR

2022

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE TRUSTEES OF THE FOUNDATION AWARDED 13,000 TO WINTHROP HIGH SCHOOL, LOCATED IN WINTHROP MASSACHUSETTS. THE SCHOOL USED THE FUNDS TO HELP DEFRAY THE COST OF ADVANCED PLACEMENT EXAMS. THE TRUSTEES OF THE FOUNDATION AWARDED 247,000 TO VARIOUS COLLEGES AND UNIVERSITIES FOR SCHOLARSHIPS FOR THE BENEFIT OF 18 SELECTED GRADUATING STUDENTS OF WINTHROP HIGH SCHOOL FOR THE PURPOSE OF ENHANCING THE STUDENTS' POST-SECONDARY EDUCATION.


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Board, Officers & Key Employees

Name (title)Compensation
Marilyn A Censullo
Trustee
$12,000
Vincent Cavarretta
Trustee
$12,000

Financial Statements

Statement of Revenue
Contributions, Gifts, Grants & Similar $0
Interest on Savings $0
Dividends & Interest $226,252
Net Rental Income$0
Net Gain on Sale of Assets $313,510
Capital Gain Net Income $0
Net ST Capital Gain $0
Income Modifications $0
Profit on Inventory Sales $0
Other Income $716
Total Revenue $540,478

Grants Awarded

Over the last fiscal year, Paul And Norma Facella Memorial Scholarship Foundation has awarded $235,000 in support to 19 organizations.

Grant RecipientAmount

TOWN OF WINTHROP MA

PURPOSE: ADVANCED PLACEMENT EXAMS

$11,000

ADYANA BARBARISI

PURPOSE: COLLEGE SCHOLARSHIP

$25,000

BRYAN CONCEICAO

PURPOSE: COLLEGE SCHOLARSHIP

$10,000

COLLEEN WHITTAKE

PURPOSE: COLLEGE SCHOLARSHIP

$10,000

EMMA FOLEY

PURPOSE: COLLEGE SCHOLARSHIP

$10,000

CATHERINE ZUFFANTE

PURPOSE: COLLEGE SCHOLARSHIP

$10,000
View Grant Profile

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