Ave Maria Foundation Of Memphis Inc
- Assets
- $6.5m
- Revenue
- $353.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Bartlett, TN
- Founding
- 10/2000
- Data as of
- 06/2021
- EIN
- 62-1826162
Organization Overview
Ave Maria Foundation Of Memphis Inc is located in Bartlett, TN. The organization was established in 2000. According to its NTEE Classification (T30) the organization is classified as: Public 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. Ave Maria Foundation Of Memphis 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 06/2021, Ave Maria Foundation Of Memphis Inc generated $353.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (12.8%) each year. All expenses for the organization totaled $344.4k during the year ending 06/2021. 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
SUPPORT OF AVE MARIA HOME, INC., A NOT-FOR-PROFIT HEALTH CARE COMPLEX CONSISTING OF A 100 BED INTERMEDIATE CARE NURSING HOME AND A 61 BED ASSISTED LIVING FACILITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORT OF AVE MARIA HOME, INC., A NOT-FOR-PROFIT HEALTH CARE COMPLEX CONSISTING OF A 100 BED INTERMEDIATE CARE NURSING HOME AND A 61 BED ASSISTED LIVING FACILITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frank J Gattuso Jr Executive Director | 28 | $97,810 | |
Joe Evangelisti President | Officer | 1 | $0 |
Maurice Buring Director | Trustee | 1 | $0 |
Greg Costa Director | Trustee | 1 | $0 |
Bill Lucchesi Director | Trustee | 1 | $0 |
James T Mcmahon Treasurer | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $55,136 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $123,818 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $178,954 |
| Total Program Service Revenue | $0 |
| Investment income | $24,161 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $71,135 |
| Net Income from Fundraising Events | $79,251 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $353,501 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $97,810 |
| Compensation of current officers, directors, key employees. | $97,810 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $133,808 |
| Pension plan accruals and contributions | $3,005 |
| Other employee benefits | $0 |
| Payroll taxes | $17,007 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $48,000 |
| Fees for services: Investment Management | $10,618 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,224 |
| Office expenses | $5,442 |
| Information technology | $4,340 |
| 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 | $9,693 |
| All other expenses | $0 |
| Total functional expenses | $344,417 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,062 |
| Savings and temporary cash investments | $78,670 |
| Pledges and grants receivable | $14,800 |
| 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 | $360 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,637,585 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,794,830 |
| Total assets | $6,528,307 |
| Accounts payable and accrued expenses | $12,000 |
| 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 | $12,000 |
| Net assets without donor restrictions | $6,438,545 |
| Net assets with donor restrictions | $77,762 |
| 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 | $6,528,307 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Ave Maria Foundation Of Memphis Inc has recieved totaling $13,048.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $10,500 |
Rose Foundation Santa Monica, CA PURPOSE: UNRESTRICTED CONTRIBUTION FOR THE FURTHERANCE OF THE QUALIFIED CHARITY'S MISSION | $2,500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $48 |
Endowment Analysis
| Beg. Balance | $1,063,581 |
| Earnings | $246,110 |
| Net Contributions | $73,280 |
| Ending Balance | $1,382,971 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ninth District Opportunity Inc Gainesville, GA | $20,597,568 | $53,356,026 |
Nema Foundation Inc Tallulah Falls, GA | $40,863,488 | $61,480,995 |
Gary Sinise Foundation Nashville, TN | $79,715,180 | $58,070,139 |
Veterans United Foundation Columbia, MO | $54,107,159 | $30,165,811 |
Jefferson Scholars Foundation Charlottesville, VA | $761,742,846 | $36,629,374 |
The Pauley Family Foundation Richmond, VA | $2,022,061,315 | $1,899,350,410 |
College Foundation Of The University Of Virginia Charlottesville, VA | $252,362,262 | $51,045,128 |
Philanthropic Impact Foundation Nashville, TN | $919,847 | $18,241,201 |
University Of Louisville Real Estate Foundation Louisville, KY | $156,388,720 | $20,770,834 |
Stifel Charitable Inc St Louis, MO | $132,307,100 | $94,589,551 |
Aston Park Health Care Center Inc Asheville, NC | $17,105,214 | $12,530,764 |
James Family Charitable Foundation Charlottesville, VA | $171,150,056 | $16,638,935 |